Family and Small Business

Family business is good for America! Family businesses:

  • Employ 67% of the workforce
  • Are responsible for 78% of all new job creation
  • Drive $8.3 trillion of GDP

I am proud of our family business!

Business gets a bad rap these days. Business owners are called:

  • Greedy
  • Selfish
  • Getting rich on the backs of their workers

Most of the family businesses are small businesses. And, the last thing I would call those business owners, that I know, is greedy or selfish. In fact, many of their workers actually out-earn them because they are continually investing back into their businesses.

So, what would happen if small business and family business owners decided to take their toys and go home? What would happen if they decided to cash out and invest their money in the stock market instead of in their business? Where would the new job creation come from? Who would fill in the gap for the $8.3 trillion loss of GDP? Who would employ the 67% of workers who would suddenly be unemployed?

Small and family business owners take lots of risk with their money. Most often they have pledged their homes to secure the loans they need to start and grow their businesses. So, why would anyone begrudge the small and family owned business owners a fair return on the money they are risking? In fact, why would we begrudge any business owner, large or small, a fair return on their investment?

Business is what drives America! It’s why we have the highest standard of living in the world. It’s why our poor are rich, in comparison to those in other countries. Business is good for America and America should support businesses with a fair tax structure, sensible legislation and laws that help, not hamper, growth.

That growth means more jobs for more people. It means higher GDP for our country. It means fewer people on unemployment and other public assistance. It means self-respect. A good day’s work is rewarding, not only for our checking account, but for our self-esteem. We know we gave our best and we’re proud of our contribution to our company’s success. Our children see our efforts and our willingness to work hard to support our families. They grow up knowing the value of a job well done!

So, the next time you’re complaining about all the money these rich business owners make, stop for a reality check! Thank you, to all of the family and small business owners! I appreciate your entrepreneurial spirit and willingness to risk it all while providing jobs and income.

About Debbie Simpson

President of Multi-Craft in Newport, Kentucky.
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