By Adoria Doucette
The rapid pace and paradigm changing effects of globalization are overwhelmingly determined by American business, finance, and entrepreneurism. Small businesses make up more than 99.7% of all employers, account for more than 50 percent of the nonfarm private GDP, and create 75 percent of the net new jobs in our economy. In effect, small business is the heart and soul of American life and the US Senate Committee on Small Business & Entrepreneurship has chief responsibility of overseeing the Small Business Administration and issues related to small business and entrepreneurship in the US. Over the past year under the administrative responsibility of Mr. Cravins the US Senate wrote, debated, and passed a monumental bill including the Small Business Lending Fund, which will beginning in April inject $30 Billion into small community banks for lending to veterans, minorities, women and other small business owners.
The daily actions of Mr. Cravins and his staff are at the vital point where business and government come together to foster and create meaningful industrial growth. As the White House and Congress come together in a new political season to make lives better for all Americans, Power Source recognizes and commends the crucial role that Mr. Cravins will continue to play to ensure that the US Senate does all that it can to protect and expand the fundamental American ideal of free enterprise.