Category Archives: Barack Obama, Economy and Job Creation, Small Business Community,

The SBA 100: Small Businesses that Created 100 Jobs

Since taking office, President Obama has cut taxes for small businesses more than 17 times and issued more than 70,000 loans to these kinds of entrepreneurs.

And this week, the administration is showcasing some small business success.

Yesterday, the Small Business Administration announced the SBA 100, an effort to feature 100 small companies that have created 100 jobs since receiving SBA assistance. From construction to shipping to food and beverage, these operations have received support in the “form of capital, contracting, counseling or investment before going on to create at least 100 jobs.”

Together, these firms have created more than 10,000 jobs total.

One example from the SBA 100 is a business called Outdoor Venture from Stearns, Kentucky, which is located in one of the poorest counties in America. JC Egnew, co-founder of Outdoor Venture, started his company in 1974 with two employees, and now has more than 250:

Through all his business endeavors, Egnew is responsible for the startup of 4 manufacturing facilities and the creation of more than 1000 jobs in this area. Since 1984, Outdoor Venture delivered more than $260 million worth of military tents on over 140 government contracts. They have received numerous awards for innovative design changes resulting in thousands of dollars of savings to the United States military tent procurement program.

Historically, small businesses have generated two thirds of all American jobs. That’s why President Obama has made the success of innovators and entrepreneurs, like the businesses featured in the SBA 100, central to his efforts to rebuilding our economy.

Scroll through the SBA 100 and read the story of these businesses. There might even be a business featured from your community…

Small Business Week at the White House

Today kicks off Small Business Week at the White House – the beginning of a week-long focus on the 27 million American small businesses, their economic footprint, and the administration’s efforts to help them grow. 

Setting the stage for the week’s discussion, Small Business Administrator Karen Mills laid out seven areas in which the administration has helped small businesses:

  • 17 tax breaks for small businesses through the Recovery Act, the Small Business Jobs Act and other laws;
  • $53 billion in SBA lending support for 113,000 small businesses at a time when traditional lending was frozen;
  • Nearly $100 billion in federal contracting dollars annually going to small businesses, with a new tool to help women-owned firms;
  • Support for small businesses to export their products and help meet the National Export Initiative’s goal to double exports in coming years;
  • Free and low-cost counseling to more than 2 million entrepreneurs and small business owners;
  • Targeted mentoring and growth capital for high-growth small businesses – the biggest job creators – through new efforts like Startup America; and
  • More stability and protection in financial markets as well as work to reduce regulatory barriers and costs.

Click here to learn about Small Business Week events, and be sure to check back in the days ahead for further updates and interesting information. Also, you can check out progress.democrats.org to learn about the dramatic affect President Obama’s policies have had on small businesses in your community.