On Feburary 22, 2011, Barack Obama spent his 12th visit to the state of Ohio speaking to small business owners. Addressing the entrepreneurs and new independent professionals, the President claimed that “The big companies generally get most of the attention in our economy…” further remarking that “it’s small businesses like yours that help drive America’s economic growth”
Speaking at a promotional event at Cleveland State University, Obama’s visit follows on the heels of an exclusive private dinner last week. Steve Jobs, Mark Zuckerberg and Eric Schmidt were in attendance, among other huge US technology executives. Whether the President’s subsequent switch to playing to the needs of small business owners will be well-received is yet to be seen. His pro-education, pro-infrastructure, pro-research plans are intended to provide these small American companies with advantages that will boost them ahead of stiff foreign competition.
The Ohio visit was not an entirely solo affair, members of the administration accompanied the President. Tim Geithner, Treasury Secretary, along with other officials, led smaller sessions with the small business owners. Giethner spoke of different advantages the administration has promoted to help small businesses, including tax cuts and easy access to capital. Small Business Administrator Karen Mills talked about helping entrepreneurs, while the Commerce and Energy Secretaries also held specific sessions.
Obama did focus on the fact that it was harder for smaller firms to borrow money, a problem that has only compounded the plight of Ohio businesses. The state has been hit hard by the poor economy, with a 9.6% unemployment rate, higher than the Labor Department’s reported national average of 9%.
During the individually led sessions, Obama attended some, and it was announced that eight future round table meetings are in the works. As part of the Startup America Partnership campaign, these discussions in cities from Boston to Silicon Valley, California will provide entrepreneurs with a forum to discuss ways to make their work easier.
Ideally, these meetings and initiatives will all come together as large companies like Facebook, Hewlett-Packard Co. and IBM Corp. invest more in startups. If, as Obama claims, small businesses are the key players in the economy of the future, rerouting cash to them from larger industries should promote increased prosperity.
