Democrat candidate for the US presidency, Hillary Clinton, has said in the past that she wants to be known as the “Small Business President”. During her impressive performance on Monday’s extraordinary Presidential Debate, she made it clear that she was determined to make to small business a priority, should she be elected to office. Clinton vowed to make “starting a small business in the United States as easy as opening a lemonade stand”, which certainly spoke to a wide economic sector and a significant voting body.
Clinton has a personal affinity with the small business owner, afterall, her father was one. He owned as small printing business, and it provided for the family. “ When my dad ran his small printing business—he printed drapery fabrics in Chicago—it put food on the table; it gave us a good, solid, middle-class home and lifestyle. And I don’t think it’s old-fashioned to say that’s what I want for every family that wants to work for that here in our country today.”
If she takes over the reigns from Obama, Hillary Clinton’s strategy for promoting the growth and support of small business in the USA will be made up of several exciting features, many of which the UK government can relate to. (see http://www. great business.gov.uk/).
Her strategy includes, briefly: more accessible funding; streamlining the process of the licensing startups; revising taxes for small business; and incentivising healthcare benefits for small business employees; opening up new markets and promoting trade; providing recourse for small businesses that get “stiffed” – or aren’t paid by their dues (Trump is famous for not paying his contractors); by providing incubators and training and support for business owners; and making the government more user-friendly, making a 24-hour response time to small businesses with questions about federal regulations and access to capital programs, standard.
Back on this side of the ocean, Theresa May has been vocal in her support of small business since becoming the UK PM. She recognises that Britain’s 5.4 million small and medium sized businesses provide people with jobs, put food on families’ tables and underpin the strength of our economy and listening to, and working with smaller firms is the answer to building an economy.
Like Clinton, May is keen to promote the global expansion of UK small business elsewhere, and Brexit provides UK small business with a golden opportunity to do just this. “I also want those firms, across all the sectors of our economy, to be able to take advantage of the opportunities presented by Brexit, such as exporting to new destinations.”
The British Prime Minister has recently disbanded the business advisory group, which was set up by Cameron during the 2010 coalition, with a view to making the body more representative. The new members, Number 10 has said, will come from business big and small. This is another example of May showing her support of SMEs, and has been welcomed by small business leaders including the Federation of Small Businesses, saying that they hope for a larger voice now that the Brexit negotiations are taking place.
According to a recent new study, a third of British women in business have felt that they had been positively affected by strong women leaders. Clinton, along with PM Theresa May, Scotland’s Nicola Sturgeon and Germany’s adept Angela Merkel, amongst others, are having a marked effect on women worldwide – and on business in the UK. Crunch’s operations director, Justine Cobb, said “It’s fascinating to see that the female business community in the UK is feeling buoyed by the rise in female political leaders.”
This group of political heroines are leading by example and this is translating into economic growth in the UK. Backed up by the data collected, Crunch found that the number of women starting their own businesses had grown 42 per cent since 2010, and almost a third of all the new businesses are now founded by women. Obviously, a third is still someway to half, but at least the progress is in an upward direction.
In times of economic uncertainty, it is clear to see how valuable competent role models are, and how they can become catalysts for change in society. With inspired examples of what is possible in one’s sight, it is easier to set positive changes in our personal lives motion. The sooner that female leadership is normalised in society, the better for young girls around the world. Let’s hope that the “Small Business President” becomes just that. The small business community is watching the race for the Oval Office in hope – and with bated breath.