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 Sachsin collaboration with the Bipartisan Policy Center, unveiled a new small business policy playbook with the goal of providing a “road map” on the best ways to spur small business growth during the incoming Trump administration.
The world investment bank Giant, along with bipartisan think tank and Fox Sports NFL reporter Erin Andrews, are rolling out the small business growth playbook “Winning Strategies for Driving Economic Growth,” which, according to a press release, “offers a playbook practical for developing the United States. economy by tackling 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 concrete policy solutions to help level the playing field for small businesses,” said John FW Rogers, Vice President executive chairman of Goldman Sachs. “Small businesses are the backbone of the American economy and will help fuel economic opportunity, growth and prosperity.”
The roadmap includes recommendations in three “crucial areas”: labor, cost of doing business, and innovation and opportunities that “integrate information gathered directly from small business owners through in-depth research.
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Goldman Sachs this week released a small business roadmap for the new Trump administration. (Getty Images/Getty Images)
The plan promotes social benefits for employees of small businesses, including changing the Retirement Credit, improving the Paid Family Leave Tax Credit, updating child care tax credits, and strengthening programs that “support parents who work” by expanding the child care labor market.
The plan also calls for job training that will “encourage partnerships between Small Business Administration (SBA) resource partners and workforce programs to offset training costs and upskill workers.”
According to the plan, “eliminating financial barriers” will play a key role in reducing the “cost of doing business,” and Goldman Sachs highlights the importance of access to capital through the expansion of investment firms for small businesses and the reorganization of technical assistance for microcredits and fintech financing. solutions.
“At a time when America is seeking common-sense, bipartisan victories in Washington, lawmakers should look no further than the Small Business Policy Playbook for strategies to help small businesses revive the American economy ” said Jessica Johnson-Cope, president and director. of Johnson Security Bureau, Inc., a third-generation, family-owned security services company based in the Bronx, said in the press release. “This guide provides a roadmap for how policymakers can support small business owners so we can thrive, grow, and create jobs and opportunities in our communities. »
Additionally, the plan addresses tax policy reform and regulatory relief.
The roadmap also describes how “innovation and opportunity” can drive growth in the economy by allowing “SBA 7(a) loans to cover technology upgrades and ensuring resource providers can support adoption of AI and other digital tools” and by simplifying “certification processes to help small businesses”. companies compete for public contracts.
In terms of manufacturing, the roadmap calls on the government to “expand access to capital for manufacturers and improve investment opportunities in small manufacturers through small business investment trusts.”
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Fox Sports reporter Erin Andrews broadcasts from the sidelines before the NFC Championship Game between the San Francisco 49ers and the Detroit Lions at Levi’s Stadium in Santa Clara, California on January 28, 2024. (Kevin Sabitus/Getty Images / Getty Images)
“Republicans and Democrats agree that significant 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 Playbook provides the 119th Congress and the incoming Trump Administration with clear legislative recommendations for bipartisan policies they can adopt to enable small businesses to access capital, innovate, and remain competitive in the marketplace rapidly evolving today. »
As part of the rollout, Goldman Sachs and the Bipartisan Policy Center are partnering with Andrews on an ad campaign.
“His message to policymakers is simple: make small businesses win,” Goldman Sachs said. “The ad, which can be viewed online, will air on Connected Television (CTV) as part of a broader campaign to draw attention and support to small businesses in Washington.”