| Small Businesses and Entrepreneurs Make a Difference |
Our economy relies on small businesses to create jobs which will sustain our country's recovery. Small businesses and the entrepreneurs behind them create most of the nation's new jobs, and they are the source of tomorrow's ideas, innovations, and new products for the marketplace.
Small businesses comprise more than 95 percent of all employers in the United States - nearly 27 million businesses in all. They employ more than half of the total private sector workforce and are responsible for the creation of two-thirds of all new jobs each year.
In Nebraska, small businesses are just as important to our economy. In 2007, Nebraska had an estimated 158,624 small businesses, employing more than 50 percent of our state's non-farm private labor force. Small businesses accounted for $6.4 billion in income for our state.
It is essential we support entrepreneurs' efforts to grow and do what they do best - create new jobs.
Recently, Congress took up the reauthorization of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (SBTT) programs which fund nearly $2.3 billion in support of innovation and technology development.
The SBIR and SBTT programs were established with the intention of attracting more forward-thinking entrepreneurs to participate in federally funded research and development.
These programs have been successful examples of public/private partnerships which have met congressional mandates of promoting the growth of cutting-edge, high-tech small business in this country.
Rural areas, such as the Third Congressional District, tend to have low participation in the SBIR and STTR, even though we are home to innovative small business owners who would benefit from increased consideration. In order to increase rural participation, I authored language in the bill requiring priority consideration be given to applicants from rural areas.
Nebraska, now more than ever, needs entrepreneurs and innovators. Unfortunately, many rural states like ours have seen a "brain drain" in recent years. As the depletion occurs, we lose our most vital economic assets to more populated areas.
As a way to draw attention to those working to stem this tide, I established the inaugural Third District Excellence in Economic Development Award. In May, I called for nominations for individuals, businesses, and organizations which - through innovation, hard work, and entrepreneurship - have helped strengthen Nebraska communities.
The response was overwhelming.
The entries I received define Nebraska's spirit. These entrepreneurs do more than just build successful businesses. They host charity events, serve on local chambers of commerce, and shape the character of our towns and cities.
The operators of these businesses - and other businesses just like them throughout our state - work tirelessly and often operate on razor thin margins just to earn a living. Nominations ranged from a teenager who started his own lawn-mowing business to a mainstay in the Nebraska business community.
I must admit I received more nominations than I was expecting. Interest was so high I even extended the deadline to allow all interested parties an opportunity to participate. It was tough to narrow down the selection, but I am proud to recognize 10 entries which not only exemplify Nebraskan's dedication to their community, but also serve as foundations on which our economic future will be built.
Some of the honorees are individuals and some are organizations; some are non-profits, some are businesses. All have shown they are striving to help their hometowns succeed into the future.
Small businesses and entrepreneurs deserve our support and recognition as they work to rebuild our economy. All too often, there is a tendency to overlook the fact that government does not create wealth and prosperity. These are created in the private sector, by risk-taking, entrepreneurial Americans with ideas, innovation and their own hard work.
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