Small business lending can rev America’s economic engine

By David Hirschmann

Published March 7, 2018 5:01am ET

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Small business lending can rev America’s economic engine — Following the 2008 financial crisis, policymakers focused solely on stability while forgetting that we need both stability and economic growth. (AP Photo/Manuel Balce Ceneta) | Manuel Balce Ceneta

Small businesses are the great engine of U.S. job creation and economic growth, and that engine has been sputtering. Fortunately, a bill under consideration in the U.S. Senate can help put some gas in the tank.

In September, the Census Bureau reported that only 414,000 small businesses were founded in 2015, a 26 percent decline from the 558,000 small businesses that were founded in 2006. What explains this dramatic decline? Americans are no less driven, entrepreneurial, or creative than they were a decade ago.

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2008 Financial Crisis Census Bureau Commentary Dodd-Frank Act Finance Jobs