The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
January 22, 2003

Fact Sheet: Taking Action to Strengthen Small Businesses

Today's Presidential Action

President Bush traveled to St. Louis to discuss how his plan for jobs and economic growth will benefit small business owners. The President called on Congress to move quickly and act on his economic proposals to encourage our Nation’s entrepreneurs, speed up economic growth and generate new jobs for American workers.

By reducing taxes, encouraging investment, and removing obstacles to growth, the President’s plan would strengthen our prosperity – so small business can flourish, and every American who seeks work can find a job. The President’s proposal helps small businesses by:

The President’s Plan to Strengthen Small Businesses

Small businesses represent more than 99 percent of all employers, and employ more than half the private work force. Small business entrepreneurs create more than two out of every three new jobs and generate about 50 percent of the nation's gross domestic product.

Nearly 40 percent of small businesses are owned by women. Close to 15 percent of America’s small business owners are minorities – and the trend of minority ownership is accelerating. More than three million minority-owned small businesses are providing job opportunities for millions of Americans in thousands of communities across America. The President is committed to creating an environment where small businesses can flourish. Under the President’s economic plan, entrepreneurs will be able to devote more resources to developing products, growing businesses, and hiring more employees.

For more information on the President’s initiatives, please visit


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