According to the Small Business Administration more than 65 percent of all jobs are created by small businesses. With that, it should be no surprise that there are events designed to celebrate and contribute to their success.
While hard work and persistence allowed me to achieve my American Dream, there are many small businesses that have the same potential, but similar to my experience, are viewed as too risky by traditional lenders.
Hurricane Sandy hit our area of the Jersey Shore pretty bad, and I am worried about people overlooking the importance of helping local businesses rebuild. We face an economic decline if we don't support our greatest asset: small businesses.
When I was in graduate school at the University of Michigan, I got to work with the "Michigan Model," a statistical model of the U.S. economy that had gained national recognition for its accuracy and simulation capabilities.
The Obama administration's current proposed programs are incompatible with the dynamism that enables small business job growth. But with a more flexible approach, President Obama could deliver a winner.
The reality is that firms are starting smaller and staying smaller and that more people want to be their own boss. We need good strategies to help these businesses start and thrive. We need good strategies to help the unemployed create their own jobs.