Thank you for writing.  I have heard from men and women across our country about America’s small businesses, and I am committed to creating an environment where these engines of job creation can grow and prosper.

When credit markets froze before I took office in 2008, small businesses felt the combined effects of diminished access to capital and falling sales.  Over the past few years, we have seen extremely difficult conditions for small businesses and the American families that depend on them.

Providing small businesses with the capital they need to grow remains a priority for keeping our recovery on track, as small businesses create two-thirds of new private sector jobs in the United States.  In September of 2010, I signed into law the Small Business Jobs Act—the most significant small business legislation in over a decade.  Through new programs like the Small Business Lending Fund and the State Small Business Credit Initiative, we are working with community banks and state capital support programs to help better serve small businesses.  In 2011, loans supported by the Small Business Administration (SBA) hit an all-time high of $30 billion, largely due to loan enhancements enacted through the Small Business Jobs Act.  And we have expanded support for Community Development Financial Institutions and micro-lending programs.

The Affordable Care Act also plays an important role in supporting small business owners and employees.  It makes small businesses with fewer than 25 employees eligible for tax credits up to 35 percent of their premium contributions for employee coverage.  Now, they no longer have to choose between hiring and health care.  In 2014, the credit will increase to up to 50 percent.  Also in 2014, small businesses with up to 100 employees will have access to state-based Small Business Health Options Program Exchanges where they can purchase affordable, quality insurance, giving them the same purchasing power as large companies.

In January 2012, on the one-year anniversary of both the White House Startup America Initiative and the private-sector Startup America Partnership, I sent a Startup America Legislative Agenda to Congress.  The Agenda will expand tax relief and unlock capital for startups and small businesses that are creating jobs.  It will also institute visa reforms that remove undue obstacles for high-skilled immigrants and recent graduates that contribute to our economic competitiveness.  To learn more, I encourage you to visit www.WhiteHouse.gov/economy/business/startup-america.

Additionally, I have asked Congress to reinstate the authority that past presidents have had to streamline the Executive Branch and create a leaner, more efficient Federal Government.  Instead of forcing small businesses to navigate the six departments and agencies that focus on business and trade, I am proposing one department, with one website, one phone number, and one mission:  helping American businesses succeed.  With this authority, we could help small businesses grow, save businesses time, and save taxpayer dollars.  In the meantime, I have elevated the SBA to a Cabinet-level agency and announced a new website called BusinessUSA—a platform that consolidates information and services from across the government into a single, integrated network for American business owners and entrepreneurs.  To learn more, please visit www.BusinessUSA.gov.

I have also called on Congress to pass more tax cuts—in addition to the 17 small business tax cuts I have already signed into law—that put money back in the hands of working families and provide a boost to goods and services purchased from small businesses.  But I will not wait for Congress to act to help out small employers.  The SBA is moving forward with a $1 billion Early Stage Innovation Fund targeting early-stage small businesses seeking capital.  Moreover, the SBA is working closely with the private sector on the Supplier Connection initiative, which links small businesses with commercial supply chain opportunities—15 companies with $300 billion in purchasing power have already committed.

To ensure our economy is built to last while upholding our commitment to our Nation’s heroes, I have expanded entrepreneurship training opportunities for service members and veterans who want to start businesses.  In August 2011, my Administration established a 2-day course in entrepreneurship, and the SBA also offers an 8-week online training program that teaches the fundamentals of small business ownership to more than 10,000 veterans every year.

I will continue to do everything in my power to ensure America remains the best place on earth to turn a great idea into a successful business.  I encourage you to take advantage of the on-the-ground counseling resources available through SBA District Offices, a local Small Business Development Center, or Women’s Business Center.  We have provided funding for those organizations to help businesses connect with the resources they need.  You can also learn more about assistance available in your area or securing Government loans or grants by calling the SBA at 1-800-827-5722, or by visiting www.SBA.gov. 

Thank you, again, for writing.