SMALL BUSINESS SPOTLIGHT
Washington, December 20, 2022
Small businesses make up 99.9 percent of businesses across the United States, accounting for nearly 50 percent of all American employees. The small business community is comprised of our nation's hardest working individuals. Their tireless dedication to running a small business does not go unnoticed.
On Tuesday, December 6, 2022, Mr. Scott Lockard – President of Hampton Enterprises – testified in front of the Small Business Subcommittee on Oversight, Investigations, and Regulations. Throughout this hearing, Lockard highlighted the difficulties his small business is experiencing under these tough economic headwinds:
“My name is Scott Lockard of Hampton Enterprises located in Lincoln, Nebraska. We are a nearly 75-year-old small business that has two main focuses: Commercial construction and leasing and development. With just over 70 employees, we own and lease out nearly 900,000 square feet of commercial property which we have built out, leased, and maintained with our own employees. Since the majority of our tenants are also small businesses, we have the unique perspective of seeing how small businesses are being impacted and affected due to the current economy.
“At the end of the day, we still have hope that things can and will improve. We must have hope, but to us small businesses, inflation is not a political word made up to win elections. It is a real issue that we face every day. We continue to look for ways to overcome these challenges and keep moving forward. However, we need to see policies that will reduce these challenges, not more restrictions that will add costs and frustration to how we operate.”
“Small businesses are the lifeblood of Nebraska’s economy, making up over 99% of private sector job creators. As any entrepreneur or small business owner knows, running a small firm can be challenging. Our recent hearing provided a great opportunity for Washington to hear directly from Nebraskans grappling with the effects of the inflation that President Biden’s policies have inflicted on our economy and working American families,” said Rep. Flood.