Business-owning Households More Likely Than Others to Have Higher Income and Wealth

WASHINGTON, D.C. –  Does small business ownership help increase a household’s overall well-being? One way to look at this is to examine how the income and wealth of households owning small businesses changed in the most recent economic expansion and recovery period. That task was undertaken in a study just released by the U.S. Small Business Administration’s Office of Advocacy.

“The report released today finds that households owning small firms in the 1998-2007 period were more likely than other households to be in the top 50 percent in income and wealth,” said Susan M. Walthall, Acting Chief Counsel for Advocacy. “It will be important to continue to examine this data series to assess the well-being of small businesses in the current economic environment.”  Read more...

 

President Obama Outlines Latest in a Series of New Small Business Proposals - Successful SBA programs Expanded To Increase Working Capital, Help Businesses Refinance

WASHINGTON - Today in Lanham, Maryland, President Obama proposed the expansion of two critical Small Business Administration (SBA) lending programs, aimed at allowing small businesses to refinance and increasing limits for working capital. These are both legislative proposals designed to help small businesses through what continues to be a difficult period in credit markets.

 

President Obama said, "The true engine of job creation will always be businesses. What government can do is fuel that engine: by giving entrepreneurs and companies the support to open their doors, expand, and hire more workers. Today, we're taking another step towards assisting small business owners get the capital they need to grow and hire." Read more...