President Obama’s Budget Priorities for Small Businesses

By Marianne Markowitz The Obama Administration has made small businesses a priority since the day the president stepped into office. He has cut taxes for small businesses 18 times and has raised the position of SBA administrator to Cabinet-level. Under President Obama, SBA has improved opportunities for small businesses to start and grow. SBA has supported over $130 billion in lending to more than 225,000 businesses and nearly $380 billion in federal contracts went to small business over the past five years. Small businesses are a big part of this economic recovery. President Obama wants to build on that solid foundation. The FY 2015 federal budget submission builds on SBA’s proven track record of assisting America’s small businesses by increasing and improving access to capital, federal contracting opportunities, entrepreneurial development, and disaster assistance. The budget submission also focuses on America’s long-term competitiveness by improving the entrepreneurial ecosystem to ensure small business owners and entrepreneurs are well positioned to take advantage of new opportunities and new markets as the economy improves. President Obama’s budget submission will give SBA the capacity to: support more than $32.5 billion in small business financing; deploy nearly $4 billion in long-term investment capital; provide over $1 […]

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