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While our small businesses
often lead the nation out of recession, that has not been the case this time — and least not so far.
The national unemployment rate jumped to 10.2 percent in October from 9.8 percent in September, and economists say a big reason is that small businesses continue to struggle.
Small businesses are the life-blood of our economy and are key to leading us on the path toward recovery. Businesses with fewer than 20 employees account for 25 percent of all jobs but generated about 40% of the job growth in the last recovery, according the U.S. Small Business Administration.
While Congress took unprecedented action last fall to help stabilize big business and big banks on Wall Street, we should do more to support the small and independent business owners on Main Street who will create the jobs that fuel recovery beyond the stock market.
In dozens of discussions with hundreds of entrepreneurs and hometown bankers across Virginia, I have learned of their significant frustration Over the
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