A panel of small business owners discuss their prospects for a second Trump administration during an appearance on ‘The Big Money Show.’
FIRST ON FOX: Goldman Sachs, along with the Bipartisan Policy Center, has unveiled a new small business policy playbook aimed at providing a “roadmap” on the best ways to spur small business growth during the incoming Trump administration. .
The global investment banking giant, along with bipartisan think tank and Fox Sports NFL reporter Erin Andrews, are releasing the small business growth book “Winning Strategies to Drive Economic Growth,” which, according to a press release press, “offers an actionable playbook. to grow the American economy by addressing the most pressing challenges facing our nation’s small businesses.”
“We are proud to partner with the Bipartisan Policy Center to provide lawmakers on both sides of the aisle with actionable policy solutions to help level the playing field for small businesses,” said John FW Rogers, executive vice president of Goldman Sachs. “Small businesses are the backbone of the American economy and will help drive economic opportunity, growth and prosperity.”
Included in the guide are recommendations in three “core areas”: workforce, cost of doing business and innovation and opportunities that “incorporate knowledge gathered directly from small business owners through extensive research.”
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Goldman Sachs released a small business roadmap this week for the incoming Trump administration. (Getty Images/Getty Images)
The plan promotes benefits for small business workers, including changes to the early retirement credit, an increase in the family leave tax credit, updates to child care tax credits and strengthening programs that “support working parents ” expanding the childcare labor market.
The plan also calls for skills training that would “encourage partnerships between Small Business Administration (SBA) resource partners and workforce programs to offset the costs of training and skilled workers.”
According to the plan, “removing financial barriers” will play a key role in addressing the “cost of doing business” and Goldman Sachs emphasizes the importance of access to capital through the expansion of Small Business Investment Companies and the renewal of the technical assistance of microcredit and fintech financing. the solutions.
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“At a time when America is looking for common sense, bipartisan wins from Washington, lawmakers should look no further than the Small Business Policy Book for strategies to help small businesses lift the American economy ,” Jessica Johnson-Cope, president and director. of Johnson Security Bureau, Inc., a third-generation family security services firm based in the Bronx, said in the press release. “This book provides a roadmap for how policymakers can support small business owners so we can thrive, grow and create jobs and opportunity in our communities.”
Additionally, the plan discusses tax policy reform and regulatory relief.
The roadmap also outlines how “innovation and opportunity” can drive growth in the economy by allowing “SBA 7(a) loans to cover technology upgrades and ensure resource providers can support AI and the adoption of other digital tools ” and simplifying “certification processes to help small businesses compete for government contracts.”
In terms of manufacturing, the roadmap calls for the government to “expand access to capital for manufacturers and improve investment opportunities in small manufacturers through Small Business Investment Companies.”
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Fox Sports reporter Erin Andrews broadcasts from the sidelines before the NFL’s NFC Championship game against the Detroit Lions at Levi’s Stadium on January 28, 2024 in Santa Clara, California. (Kevin Sabitus/Getty Images/Getty Images)
“Republicans and Democrats alike agree that meaningful economic growth requires a thriving small business sector,” Margret Spellings, President and CEO of the Bipartisan Policy Center, said in the press release. “The Small Business Policy Book provides the 119th Congress and the incoming Trump administration with clear legislative recommendations for bipartisan policies they can adopt to empower small businesses to access capital, innovate and remain competitive in today’s fast-paced market.”
As part of the rollout, Goldman Sachs and the Bipartisan Policy Center are teaming up with Andrews on an ad campaign.
“Her message to policymakers is simple: win a win for small business,” the press release said. “The ad, which can be viewed online, will appear on Connected TV (CTV) as part of a broader push to bring attention and support to small businesses in Washington.”
