I have often said that there is nothing small about small business in
America. These firms account for nearly one-half our gross national
product; over half of new technology; and much more than half of the jobs
created by industry.
Because this sector of the economy is the very lifeblood of our National
economy, we have done much together to improve the competitive climate for
smaller firms. These concerted efforts have been an integral part of my
program to revitalize the economy.
They include my campaign to shrink substantially the cash and time
consuming red tape burden imposed on business. They include my
personally-directed policy of ambitiously increasing the Federal
contracting dollars going to small firms, especially those owned by women
and minorities. And they include my proposals to reinvigorate existing
small businesses and assist the creation of new ones through tax reform;
financing assistance; market expansion; and support of product innovation.
Many of my initiatives to facilitate the creation and growth of small
businesses were made in response to the White House Conference on Small
Business, which I convened. My Administration began the implementation of
most of the ideas produced last year by that citizen's advisory body;
others need to be addressed. I have proposed the reconvening of the
Conference next year to review progress; reassess priorities; and set new
goals. In the interim I hope that the incoming Administration and the new
Congress will work with the committee I have established to keep these
business development ideas alive and help implement Conference
recommendations.