WASHINGTON - As vice chairman of the House Small Business Committee, I hear daily from folks struggling to navigate crippling federal regulations and other forms of government interference that are hampering small businesses' success, growth, and hiring capabilities. In the wake of National Women's Small Business Month in October, I wanted to take a moment to recognize those female small business owners that put in the long hours and hard work that it takes to make a business a success.
There are several enlightening facts regarding women and small businesses. First, the U.S. ranks among the top nations in the world when it comes to female entrepreneurship. In fact, according to the U.S. Census Bureau's 2007 Survey of Business Owners, women owned 7.8 million businesses and accounted for almost 30 percent of all businesses nationwide. And a study by the National Women's Business Council found that patent and trademark ownership by women has increased by approximately 34.72 percent from 2009 to 2010.
I have said time and again that America's small businesses are the engines of job creation, employing about half of all private sector employees. From 1999-2000, small businesses accounted for 75 percent of all new jobs created and have generated 65 percent of net new jobs over the past 17 years. In this economic climate, it is crucial that we support these businesses, which continue to create jobs and serve as the backbone of our economy, rather than place obstacles before them.
I have heard from numerous small business owners, including those run by women, which support efforts to streamline the tax code and reduce the bureaucracy that small business owners have to deal with. I am proud to co-sponsor of the Tax Code Termination Act which would terminate the Internal Revenue Code after December 31, 2017 and would also declare that any new federal tax system should be a fair and simple system that applies a low rate to all Americans. Additionally, as the House Committee on Ways and Means moves forward with its tax reform efforts, particularly those that directly affect small businesses and those that file as pass-through entities, I remain engaged and active in supporting their efforts while voicing the concerns of small businesses.
I also would encourage folks to remember that Small Business Saturday takes place this year on Nov. 30. First observed in 2010, Small Business Saturday encourages holiday shoppers to patronize brick and mortar businesses that are small and local, many of which are run by very capable women.
As vice chairman of the Small Business Committee, I will continue to protect the livelihoods of business owners and employees including those women who continue to fight the odds and succeed as small business owners. Having seen first-hand the hard work and dedication of my wife, daughters, and female employees, I know that these ladies and the millions of others in America are vital to the success of our economy and communities. That is why I am happy to recognize occasions such as National Women's Small Business month and remain committed to supporting the successes of women in any profession they choose.
U.S. Rep. Blaine Luetkemeyer, R-Mo., represents the state¹s 3rd District, which includes Jefferson City. His local office can be reached at 573-635-7232.
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