Why Vote for Joe? Real Support for Small Businesses and Entrepreneurs

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“We cannot and will not accept an economic equation that only favors those who’ve already got it made. Everybody deserves a shot at prosperity.” – Joe Biden

The Biden economic plan tackles inequality through investment, support and training. And the plan outlines specifics for strengthening small businesses and bolstering entrepreneurs.

Because of the urgency presented by the pandemic, Biden and Democrats would act immediately to provide financial relief to all Americans, along with state and local governments, so that consumers will have the income they need to be able to support themselves and their local small businesses.

Biden also plans to establish a true small business fund that reserves at least 50 percent of all relief for businesses employing 50 people or fewer. He would expedite the loan process so that hard-hit small businesses can get funds more quickly.

Biden also plans to increase oversight to make sure individuals are not able to take funds for personal enrichment. He would increase the amount of funding available for PPP protection and would guarantee funds for every qualifying small business rather than capping the fund and forcing small businesses to compete for needed relief.

Biden also plans to reform anti-competitive licensing practices so that more people can enter industries that require a license. Additionally, his proposal would allow people to transfer professional licenses from one state to another. While Joe served with the Obama administration, the federal government began offering grants to encourage reductions in licensing laws at the state level because it considered occupational licensing barriers economically damaging.

The Biden plan also provides additional support for those caring for children or aging parents, to ensure entrepreneurs and business owners will be able to continue to care and provide for their families and their businesses.

Joe Biden recognizes that America cannot be strong if its small businesses are suffering. He will work to ensure businesses and entrepreneurs have the support and freedom they need to come out of the pandemic and prosper.

Fact Quotes

Matthew Yglesias of Vox noticed at the time that the administration’s push against occupational licensing laws, which are government regulations, after all, was out of synch with liberal orthodoxy.

Yet Biden wasn’t afraid to connect these state laws to his broader fight for economic opportunity and human dignity. For Biden to point out the harmful and demeaning effects of some government regulations in his campaign kick-off speech is both noteworthy and praiseworthy.