Federal Policies Are Unleashing Small Business Growth

0:00 Speaker 1 What is today is Kelly Laufer, the former US Senator from the state of Georgia and now the administrator or small Business Administrator illustration and doing so many good things around our country and funding small businesses. And you know small businesses always need help. Well, Administrator Lalfort, tell us about it, tell us about all the good things you’re doing. Well.

0:25 Speaker 2 Great to be hones with you, John. Look, small business is big business, as President Trump always says, and I see it as I go around the country. I was in the great state of New York last month, got to see an incredible sheet metal fabricator, a small business that is punching way above their weight. And thanks to

0:41 President Trump’s Working family tax cuts, they now have the incentive to invest with one hundred percent immediate expensing, and then their employees have no tax on overtime. So he’s able to take on more of those work orders that are just flooding in. Thanks to the Trump economy tailwinds of low regulation, low taxes, fair trade. Those small businesses

1:04 are doing well. We’ve got more work to do, but I see it everywhere I go. We’re starting to see a lot of sign to growth.

1:11 Speaker 1 Well, thank you and tell us that. You know, when President Trump has gotten triggions and dollars worth of new business to come into the United States. And the way I understand it is when major companies open up a a factory or whatever, there’s a need for small businesses around it to do for support services. Tell us that,

1:36 and you’ve been helping those people tell us about it.

1:40 Speaker 2 Yeah, John, you’re exactly right. Look, your business man, you built big businesses. Small businesses turn them into big ones. And big businesses tell me all the time they cannot do it without the services, the hard work to know how a small business. And that’s true whether you’re in the food space, or the energy or space or any

2:01 kind of manufacturing. Our defense industrial complex is made up of many small innovative businesses. In fact, I was just at a manufacturer of defense precision defense equipment. And some of the big federal contractors rely on those small businesses because they have the expertise, the nimbleness, the innovation that they can plug into the supply chain. And that’s why

2:26 when President Trump brings eighteen trillion dollars into this economy, that’s really a rocket fuel for main street for small businesses because it’s not a zero sum game. It doesn’t mean when a big business wins a small business loses.

2:39 It really grows the entire opportunity set, and we see it everywhere we go across every industry.

2:46 Speaker 1 Now, we have such a low unemployment in the United States right now, and when we need small businesses to open up, people open up small businesses and you’re helping them. Tell us, tell us your experience dealing with those people.

3:02 Speaker 2 Yeah, you know, what’s critical right now is having that skilled workforce. There’s certainly a need for more workers in the skilled trades. We’re really supporting that we have an MoU with a Department of Labor to advance the million worker target of having those apprenticeships filled. These are great paying jobs. This is going to be another blue collar boom.

3:26 I mean, these are students that can come out of these apprentice programs right into doing electrical work, HVAC plumbing, home building, contracting, manufacturing. The factory floor has become really the convergence of technology and building again, like we are a nation of builders. That’s what President Trump wants us to get back to. But there’s a lot of opportunity

3:48 and small businesses, most small businesses today, over half are hiring, and so this is another good sign. You saw the employee the unemployment rate ticked down again month when we announced one hundred and seventy eight thousand new private sector jobs, blowing away the estimates by threefold. So this boom is coming and we need to get people back into the workforce.

4:14 Speaker 1 Understood. Now, is there any particular area that’s doing better than others? Is it the northeast, northwest, southeast, southwest?

4:25 Speaker 2 Well, John, I just got back from Texas. I was this week. I was in Houston, Austin, Fort Worth. That date is booming. It’s low tax, low regulation, energy dominance, and you see these policies drawing businesses relocating. There a lot of innovation. And that’s what’s so important is that these states we have fifty laboratories of democracy, fifty different

4:53 experiments going on. And you can see the California experience not going well. The experiment is bad because companies are fleeing, people are fleeing. They lost a quarter million people last year because of the high tax environment. And I know you’ve got the threat of that in New York now with the Pado tear tax that the mayor wants to

5:13 put on and drive more people out of the city.

5:16 Speaker 1 Well, more taxation people, you know what they’re doing. They’re going to the states where there’s low taxation and low cost of doing business versus being overtaxed. And right now I see the big states as Texas and in Florida and Tennessee and Carolinas. There there, I guess a lot of people are flocking towards them.

5:42 Speaker 2 You’re exactly right, and you know what they say, If you want less of something, tax it, and that certainly has worked in many cases. And when you tax individuals based on success, you’re driving out small businesses, job creation, the ability for people to have incentives to grow their opportunity set, not to shrink from it. And so those

6:07 are engines of prosperity that are taking place, and it really affects everyone, regardless of your politics. If your state is declining and opportunities, it’s going to hurt everyone.

6:20 Speaker 1 Well. SBA Small Business Administration Administrator Kelly Laufer, thank you for everything you’re doing. God bless you, and God bless America. And please thank Donald Trump putting you in a President Trump or putting you in that position to make a difference.

6:38 Speaker 2 Thank you John, God bless you, God, bless