Top Wall Street bank unleashes small business playbook for Trump admin to ‘fuel economic opportunity’
A panel of small business owners discuss their outlook for a second Trump administration during an appearance on “The Big Money Show.”
FIRST on FOX. Goldman SachsThe Bipartisan Policy Center has released a new small business policy playbook that aims to offer a “road map” of the best ways to promote small business growth during the incoming Trump administration.
Global: investment bank giant, along with the bipartisan think tank and Fox Sports NFL reporter Erin Andrews, presents Winning Strategies to Drive Economic Growth, a small business growth playbook that, according to a press release, “offers an actionable playbook for growing the U.S. 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 effective policy solutions to help level the playing field for small businesses,” said Goldman Sachs Executive Vice President John F.W. Rogers: “Small business is the backbone of the American economy and will help drive economic opportunity, growth and prosperity.”
The roadmap includes recommendations for three “critical areas”—labor, costs of doing business, and innovation and opportunity—that “incorporate insights from small business owners through extensive research.”
SMALL BUSINESS OPTIMISM FOLLOWS TRUMP’S VICTORY TO 6-YEAR HIGH.
Goldman Sachs this week released a small business roadmap for the incoming Trump administration. (Getty Images/Getty Images)
The plan benefits employees small businesses including changing the newly created pension credit, expanding the paid family leave tax, updating childcare tax credits and strengthening programs that “support working parents” by expanding the childcare job market.
The plan also calls for skills training that will “encourage collaboration between Small Business Administration (SBA) resource partners and workforce programs to offset training costs and attract highly skilled workers.”
Under the plan, “removing financial barriers” will play a key role in addressing the “cost of doing business,” and Goldman Sachs emphasizes access to capital by expanding Small Business Investment Firms and improving technical support for microloans and fintech financing. solutions.
“At a time when America is looking for common sense, looking for bipartisan wins from Washington, lawmakers should look no further than the Small Business Policy Guide for strategies to help small businesses boost the American economy,” President and CEO Jessica Johnson-Cope According to a press release from Johnson Security Bureau, Inc., a third-generation family-owned security services company based in the Bronx The playbook provides a roadmap for how policymakers can support small business owners so we can thrive, grow and create jobs and opportunities in our communities.”
In addition, tax policy reform and regulatory easing are discussed in the plan.
The roadmap also outlines how “innovation and opportunity” can drive economic growth by allowing “SBA 7(a) loans to cover technological upgrades and ensuring resource providers can support the adoption of AI and other digital tools” and simplifying ” certification processes to help small” businesses compete for government contracts.”
In terms of manufacturing, the roadmap calls for the government to “expand access to capital for manufacturers and improve investment opportunities for small manufacturers through Small Business Investment Companies.”
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Fox Sports’ Erin Andrews broadcasts 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,” Margaret Spellings, president and CEO of the Bipartisan Policy Center, said in a press release offers clear legislative proposals for bipartisan policies they can adopt to help small businesses access capital, innovate and compete to stay in today’s fast-paced market.”
As part of the rollout, Goldman Sachs and the Bipartisan Policy Center are teaming up with Andrews on an ad campaign.
“His message to policymakers is clear: win for small business,” the press release said. “The ad, which can be viewed online, will air on Connected TV (CTV) as part of a broader push to bring attention and support to small businesses in Washington.”
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