https://www.realclearpolitics.com/articles/2021/04/17/small_businesses_are_key_to_economic_recovery___145606.html
Alfredo Ortiz is the president and CEO of the Job Creators Network.
American small businesses are the key to unlock our national economic recovery. Small businesses account for two-thirds of all new jobs and drive much of the annual economic growth Americans take for granted. Given the ongoing economic and labor-market turmoil, small businesses are more important now than perhaps in any other time in American history.
We have both seen firsthand how small businesses can help poor, minority, and immigrant Americans live the American Dream. We want all Americans – regardless of their background – to have the opportunity to follow in our footsteps by creating successful businesses, especially now when they are so desperately needed.
Unfortunately, small businesses are suffering. They were some of the most impacted by the COVID-19 pandemic and associated restrictions on activity. More than 100,000 small businesses closed permanently in 2020. By one estimate, more than 110,000 restaurants alone have shut their doors for good. In California, 40,000 small businesses have closed, with nearly half of those closures being permanent. Ordinary Americans can view this carnage with their own eyes walking down Main Street or driving past any suburban strip mall and seeing shops boarded up and bankrupt.
Traditionally, America’s small business engine has been unbreakable, with new entrepreneurs constantly replenishing and growing the national stock. Yet bringing small businesses back this time may not be a given. With many of them barely keeping their doors open after a year of unprecedented turmoil, bad government policies like proposed tax increases and regulations threaten to put them out of business for good.