The U.S. State Department would like to give thanks on Small Business Saturday for the important role small businesses play in contributing to the strength of the U.S. economy. We stand ready to open markets and level the playing field for American small businesses to compete around the globe.
U.S. small businesses are a job creation engine that creates U.S. wealth and prosperity and a key driver of the lowest unemployment rate in 50 years. According to the U.S. Small Business Administration’s 2019 Small Business Profile, America’s 30.7 million small businesses employ 47.3 percent of the U.S. private workforce. New businesses create between 2-3 million new jobs a year, according to the U.S. Bureau of Labor Statistics.
The Department of State advances the United States’ economic agenda worldwide, leveraging a network of over 2,000 Economic Officers working at our diplomatic posts overseas and at the Economic and Business Affairs Bureau in Washington. The primary responsibility of every economic officer is to advocate for increased U.S. business opportunities and job growth.The State Department offers tools for U.S. small businesses, many in coordination with other U.S. government agencies, and stands ready to help U.S. businesses succeed. We encourage small businesses to take advantage of our commercial advocacy. We also provide market intelligence opportunities through investment climate statements and direct line calls.
Again, we would like to take time to give thanks for what makes small business and the overall U.S. economy strong and prosperous:
–our market-based economy that rewards risk, allows for failure, and minimizes government involvement;
–our developed financial system which provides access to capital;
–our strong rule of law, including intellectual property rights protection; and
–our excellent educational and research institutions.
Please support your local small businesses on Small Business Saturday. If you’re a small business looking to expand, keep the State Department in mind. We’re here to help broaden your market and opportunities. To find out more ways the State Department can help small businesses visit the Office of Commercial and Business Affairs webpage on state.gov.
About the Author: Dan Negrea is a Special Representative for the Office Commercial and Business Affairs.