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Suzanne P. Clark, president and CEO of the U.S. Chamber of Commerce, spoke Thursday on “The State of American Business,” emphasizing the local impact of businesses and the importance of small businesses.
Small businesses employ nearly half of the U.S. workforce and are responsible for driving about 43.5% of the nation's gross domestic product, according to a Chamber of Commerce report released last year. Mr. Clark's speech emphasized the importance of small businesses to the local economy, including businesses that some people may not consider small businesses, such as franchises.
“The American business landscape is local because companies serve people where they are. And if you think about it, that makes every business local,” Clark explained. . “That of course applies to the small businesses that line Main Street and the locally headquartered businesses that employ hundreds, even thousands, of people in our communities and drive their economic ecosystems.”
“That's true even for the national chain restaurant you first worked at. The technology company that makes the equipment and internet service providers that allow you to work from your kitchen table or home office. The energy that powers your car. It's a production company. It's an institution that will give you a loan so you can drive across town. You can start a business in your basement.”
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In her speech, Suzanne Clark, president and CEO of the U.S. Chamber of Commerce, emphasized the importance of small businesses and the impact that all businesses have on their communities. (David Kawai/Bloomberg via Getty Images/Getty Images)
“No matter where a company, service, product or solution originates, its impact is always local, because local is where we live,” she added.
The chamber's president and CEO also discussed the importance of global trade, not only to the U.S. economy as a whole, but also to local small businesses.
“To foster economic growth, the United States must participate in the global economy,” Clark said. “There is an opportunity to increase trade, which already supports 40 million American jobs, expand exports, help small businesses access global markets, and increase consumer choice and keep prices low. We welcome imports to make the goods and services we all need more affordable.”
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Small businesses employ nearly half of U.S. workers, according to a Chamber of Commerce report last year. (Lane Turner/Boston Globe via Getty Images/Getty Images)
Speaking in Dallas, Texas, Clark noted that the Dallas-Fort Worth Metroplex has several similarities with other economically vibrant regions of the country.
Among its characteristics include a diverse industrial base, low unemployment rates, and an abundant talent pool, as well as “small businesses that contribute to and enrich local communities, and large businesses that provide jobs, economic activity, and tax revenue.” A healthy combination. It also includes infrastructure, access to global markets, and an innovation ecosystem.
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Mr. Clark spoke from Dallas, Texas, noting the qualities that make the Dallas-Fort Worth metropolitan area an economic powerhouse. (Kirby Lee/Getty Images/Getty Images)
He went on to say that while many communities have not experienced that level of growth, the United States should work to ensure that communities are not left behind economically by ensuring favorable conditions for commerce. He pointed out that it depends on whether they can secure it.
“We all know there are too many places and communities that don't feel energized and don't see growth,” Clark said. “We must be a country where no community is left behind, where there are no food deserts, where crime does not crowd out commerce, where private investment is welcomed and where young people stay and come back to build businesses and careers. It has to be a country that we want to build,” where people can get ahead and raise families. ”
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“While not every community can, should, or wants to be the next booming metropolis, every community has the economic opportunity to provide the promise of quality of life and opportunity that all Americans desire. “I hope,” she added.
