Emphasis on Small and Self-Employed Businesses

The 20 by 20 goal for small, emerging and self-employed is 10 million.  This sector is currently under-exploited.  With government hiring incentives, low cost loans, tax deductions, and other support, this sector should flourish.

 

Small business is the US economic backbone.   There are 6 million US small businesses and 21.7 million self employed businesses that:

• Employ 70 million US citizens
• Represent 99% of US firms
• Generate 90+% of all new jobs
• Pay 45% of total US payroll
• Produce 13 times more patents than large firms
• Produce 30% of all exports

 

These small businesses and self employed businesses produce $6 trillion annual revenues, which equates to the 2nd largest economy in the world.

 

The Jobenomics top initiatives in this important category are: establishing community-based business incubators, incentivizing the growth of women-owned businesses, developing a national direct-care program, developing a real estate owned (REO) private equity/property management initiative, and encouraging the establishment of business ministries.