HELP SMALL BUSINESSES
Business Growth Is Key to Sustainable Economic Growth and Job Growth
In March of this year, the
President noted that nationally small businesses accounted for
two-thirds of job growth.
In the same speech, the
President said that nine out of ten women owned small businesses
nationally employ fewer than ten people.
The U.S. Small Business
Administration indicated in a recent report that small businesses
accounted for nearly half of the United States’ greater than $9
The only net job growth
since the 1989 recession has been new jobs created by businesses
with fewer than 20 employees in Harlem and the South Bronx.*
In Harlem, 75% of for
profit companies are businesses with less than five employees.*
In Harlem, an estimated
70% of local residents shop outside of the community due to a dearth
of high quality goods and services—an estimated $1 billion in
retail sales is lost.*
Last, many businesses are
isolated and only sell to the local community.
Little is exported. Growth
prospects for profits, payrolls and W-2s are dim.*