During the second Presidential debate both candidates will talk about small businesses, but they should understand that the desires of businesses owned by African Americans Latinos, whites and women are not the same.
To sustain US employment growth more attention must be given to minority-owned businesses. The government’s small business policies must put more attention on minority businesses.
The slowdown has implications for minority businesses because it is caused by reductions in government spending and business fixed investment.
Presidential campaign messages should be tailored to specific small business demographic group and employment sizes. Capital is important, but it not a cure all.
Black unemployment is 14.1% and Latino unemployment is 10.7%. One way the government can help reduce unemployment among blacks and Latinos is by promoting business development among the groups.
The President’s State of the Union address should focus on how to resolve the housing crisis, make home loans more accessible, encourage corporations to pay small biz suppliers more quickly and establish a National Commission on Black Unemployment.
According to the Gazelle Index, more than twice as many small businesses plan to hire workers than to lay off workers over the next three months. This is true for businesses owned by blacks, whites, men and women–but not for Hispanic/Latinos.