WASHINGTON – According to a recent report from the Pepperdine Graziadio Business School and Dun & Bradstreet Q3 2018 Private Capital Access Index, small businesses are finding it easier to acquire capital. More specifically, 53 percent of the small businesses surveyed said they were successful in securing a loan in the past three months. “Access to capital is critical for small businesses to start and grow their companies. This new report is yet more proof that the economic climate, due to fewer...
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WASHINGTON – Last week, the House Committee on Small Business held a full committee hearing on how the opioid crisis is affecting small business, specifically the decline in the labor force participation rate. The discussion included Katie Van Dyke, Director of Cleveland State University’s Ohio Small Business Development Center, as outlined by Cleveland.com below: “The opioid crisis poses major challenges to small businesses in Ohio as employers in rural and urban areas alike have trouble findin...
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WASHINGTON – According to a new study by Bank of America, women entrepreneurs are optimistic about their future. More specifically, 58 percent of women surveyed believe their revenues will increase next year, up from 44 percent last year. Meanwhile, more than half of women business owners plan to grow their company in the next five years, while 21 percent plan on hiring more workers. “Every week it seems there is a new survey showing that small business owners are optimistic about their company,...
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WASHINGTON – This week, the Small Business Administration (SBA) Great Lakes Regional Administrator Rob Scott wrote an op-ed for the Pike County News Watchman sharing how the Tax Cuts and Jobs Act has directly benefited the almost one million small businesses in Ohio. “Thanks to the recent federal tax cut, local business owners are making investments in their businesses and employees by raising wages, increasing benefits and purchasing equipment to grow their businesses and create new jobs. The o...
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WASHINGTON – Recently, the President signed into law the John S. McCain National Defense Authorization Act (NDAA) for Fiscal Year 2019, which included several small business provisions. “Our nation demands a vital small business industrial base: it is fundamental to the health of our nation as a whole. I am grateful to the House Armed Services Committee for working with the Small Business Committee and I look forward to continuing that relationship to ensure that small businesses provide the Dep...
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WASHINGTON - Last week, U.S. Small Business Administrator Linda McMahon wrote an op-ed in the Cincinnati Enquirer to highlight the monumental impact the Tax Cuts and Jobs Act is having on local small businesses after hosting a small business roundtable on July 27 with the House Committee on Small Business Chairman Steve Chabot (R-OH) in Cincinnati, Ohio. "When I visited Cincinnati in September of last year, small business owners who joined a roundtable I hosted were clear on one thing – taxes we...
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WASHINGTON – This week, Wells Fargo/Gallup released a survey touting the record-high optimism U.S. small business owners’ are experiencing, the highest in 15 years. According to the report: Cash flow and positive financial situation are strong drivers of optimism. 78 percent of small business owners rate their current financial situation as very or somewhat good, compared with 73 percent in the second quarter of 2018. 69 percent of small business owners rate their cash flow in the past 12 months...
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Cincinnati, OH – Congressman Steve Chabot (R-Westwood) made the following statement today regarding the announcement that the U.S. Small Business Administration (SBA) is opening a Women’s Business Center in Cincinnati: “The announcement that the SBA is opening a Women’s Business Center in Cincinnati is tremendous news. Women-owned small businesses have had a remarkable impact on our nation’s economy. With an estimated 11.6 million women-owned businesses employing nearly 9 million Americans, it’s...
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WASHINGTON – This week, the National Federation of Independent Business (NFIB) announced that its small business optimism index rose in February to its second-highest reading in the 45-year history of the monthly survey. According to the report: Taxes received the fewest votes as the #1 business problem since 2006 Reports of improved earnings trends were the highest since 1987 Inventory investment was the strongest since 2000, fueling GDP growth Reports of actual capital outlays rose to the high...
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WASHINGTON – This week, House Committee on Small Business Chairman Steve Chabot (R-OH) spoke on the House floor in support of H.R. 4607, the Comprehensive Regulatory Review Act. This follows a hearing the Committee held last week to examine a Government Accountability Office (GAO) report that identified a number of financial regulations that burden community banks and credit unions. On the floor, Chairman Chabot said: “I want to thank Chairman Hensarling, and the entire Financial Services Commit...
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