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A group of small business owners discuss their outlook for a second Trump administration during an appearance on “The Big Money Show.”
FIRST ON FOX: Goldman Sachsalong with the Bipartisan Policy Center, have unveiled a new policy handbook for small businesses that aims to provide a “roadmap” on the best ways to boost small business growth during the next Trump administration .
The global investment bank The giant, along with the bipartisan think tank and Fox Sports NFL reporter Erin Andrews, are launching the small business growth playbook “Winning Strategies to Drive Economic Growth,” which, according to a press release , “offers a useful playbook for growing the US.” economy by addressing the most pressing challenges facing our nation’s small businesses.”
“We are proud to partner with the Bipartisan Policy Center to provide lawmakers on both sides of the aisle with actionable policy solutions to help level the playing field for small businesses,” said John FW Rogers, executive vice president of Goldman Sachs. “Small businesses are the backbone of the American economy and will help fuel economic opportunity, growth and prosperity.”
The roadmap includes recommendations in three “crucial areas” — labor, cost of doing business, and innovation and opportunity — that “incorporate insights gleaned directly from small business owners through extensive research.”
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Goldman Sachs released a small business roadmap for the incoming Trump administration this week. (Getty Images/Getty Images)
The plan promotes benefits for employees of small businesses, including modifying the early retirement credit, improving the tax credit for paid family leave, updating child care tax credits, and strengthening programs that “support working parents ” by expanding the child care labor market.
The plan also calls for skills training that will “foster partnerships between Small Business Administration (SBA) resource partners and workforce programs to offset training costs and skilled workers.”
According to the plan, “removing financial barriers” will play a key role in addressing the “cost of doing business,” with Goldman Sachs stressing the importance of access to capital by expanding small business investment firms and the renewal of technical assistance for microloans and fintech financing. solutions
“At a time when America is looking for common sense, bipartisan wins in Washington, lawmakers should look no further than the Small Business Policy Playbook for strategies to help small businesses drive America’s economy.” , Jessica Johnson-Cope, President and Director. of Johnson Security Bureau, Inc., a third-generation family-owned security services company based in the Bronx, said in the press release. “This playbook provides a road map for how policymakers can support small business owners so we can thrive, grow and create jobs and opportunities in our communities.”
In addition, the plan looks at fiscal policy reform and regulatory relief.
The roadmap also describes how “innovation and opportunity” can drive economic growth by enabling “SBA 7(a) loans to cover technology upgrades and ensure that resource providers can support adoption of AI and other digital tools” and streamlining “certification processes to help small businesses compete for government contracts.”
On manufacturing, the roadmap calls for the government to “expand access to capital for manufacturers and improve investment opportunities in small manufacturers through small investment companies.”
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Fox Sports reporter Erin Andrews broadcasts from the sideline before the NFC Championship NFL football game against the Detroit Lions at Levi’s Stadium on January 28, 2024 in Santa Clara, California. (Kevin Sabitus/Getty Images/Getty Images)
“Republicans and Democrats agree that meaningful economic growth requires a thriving small business sector,” Margret Spellings, president and CEO of the Bipartisan Policy Center, said in the press release. “The Small Business Policy Playbook provides the 119th Congress and the incoming Trump administration with clear legislative recommendations for bipartisan policies they can enact to empower small businesses to access capital, innovate, and remain competitive in today’s rapid evolution”.
As part of the launch, Goldman Sachs and the Bipartisan Policy Center are teaming up with Andrews on an ad campaign.
“His message to policymakers is simple: deliver a win for small business,” the press release states. “The ad, which can be viewed online, will run on Connected TV (CTV) as part of a broader push to bring attention and support to Washington’s small businesses.”
