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Want To Serve Your Country? Start A Business

Rhett Buttle • July 2, 2020

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Today is a great day to be an American entrepreneur. It might seem counterintuitive, with much of the country slowly re-emerging from months of physical and economic lockdown, businesses shuttered across the U.S. and some industries poised to never fully recover. At the same time, the attention of policymakers, advocates and lenders has never been more focused on small business owners. 

Entrepreneurs should make the most of this moment—not only for their own advancement, but to advance our nation as a whole.

Whatever our economic recovery looks like, small businesses will lead the way. For that, we not only need existing businesses to survive the pandemic—through PPP and other support—we also need new businesses to be created. Despite the current downturn, this isn’t as crazy as it might seem. According to a 2009 study by the Kauffman Foundation, more than half of the companies on that year’s Fortune 500 list were started during a recession or bear market. Big name companies like GE, IBM, Disney, Hewlett Packard—even Internet-age firms like Uber, Slack and Venmo—were all founded at a time when our economy was in dire straits.

At the moment, there are good reasons to follow in the footsteps of these businesses. The Fed indicated last week that it plans to keep interest rates near zero through 2022, in part to support struggling businesses. Many of the upfront costs of starting a business—equipment, supplies and office/retail space—may be cheaper right now due to a lack of demand. As businesses shutter or downsize, their former customers will be looking for new sources of reliable goods and services. Their former employees will be looking for jobs. And there are opportunities to create new industries and markets based on our current moment, as changes to the ways we work, consume and entertain solidify into our new normal. 

If you’re looking to start a business right now, it’s probably out of grim necessity. Maybe you’re one of the 21 million Americans who are now unemployed and looking for a viable income. The good news is that small business ownership is a proven path to building household wealth and financial security. 

But despite all of the incentives to start a small business, there are still risks. Given the role that Main Street will play in pulling the country out of this recession, policymakers have a patriotic duty to encourage American entrepreneurship right now—and to ensure entrepreneurial opportunities are accessible to all. 

How can policymakers incentivize new business creation? A number of bipartisan proposals have already been put on the table. For example, Senators Cory Booker (D-NJ), Patty Murray (D-WA) and Steve Daines (R-MT) introduced the Recharge and Empower Local Innovation and Entrepreneurs Fund (RELIEF) for Main Street Act, and a group has worked across the aisle to introduce the same legislation in the House. This $50 billion fund would build on what’s already working at the city-, county- and state-levels by providing cash to seed and scale small business relief funds. While the fund is focused on relief to existing businesses, experts are calling for some of the funding to create “Main Street Regenerators” that would be responsible for speeding the overall recovery of local business districts. These Regenerators would fulfill a number of critical roles, including seeding new entrepreneurship to revitalize vacant business spaces. To do so, Regenerators would need flexible capital, which Congress could appropriate either through the RELIEF for Main Street Act or other legislation. 

Another example: Before COVID-19 hit in full force, Democrats in both the House and Senate introduced the New Business Preservation Act, which proposed a Treasury-administered program to incentivize venture capital investment in innovative and promising start-ups. This legislation would allocate $2 billion for states to attract private venture capital to promising start-ups by offering a one-to-one match of federal investment. According to the Center for American Entrepreneurship, which supports the bill, thousands of start-ups have been shut out of the PPP and other pandemic relief. The New Business Preservation Act would help ensure that innovative start-ups are a core part of America’s resurgence post-COVID-19. 

Finally, policymakers need to ensure that capital and other support is equitably distributed to new business creators. The Start Us Up Coalition (of which my organization is a member) has proposed a number of policy solutions for every level of government, focused on both short- and long-term support for entrepreneurs. Among them is a call for Congress to make substantial funding available to states to expand access to capital for new businesses, especially for female, minority, immigrant, and rural entrepreneurs. But the plan also goes beyond access to capital. Recognizing that personal financial obligations—such as student loan payments and retirement contributions—make it even harder to start a new business, the plan proposes tax deferrals and incentives that would strengthen the social safety net. It also proposes including information and tools on entrepreneurship in workforce development programs to help young Americans take the leap into business ownership. These types of comprehensive, non-capital support would provide critical incentives for would-be entrepreneurs.

The bottom line is that some businesses will not weather the current crisis. We can’t let our economy suffer a war of attrition, with no new businesses to replenish those that fail. Policymakers have always played a vital role in supporting American entrepreneurship, and they have a duty to step up once again. 

And for the would-be business owners out there: The future of our country depends on you.

This piece originally appeared in Forbes on June 16, 2020. You can view it online here.

Rhett Buttle is the founder of Public Private Strategies, Executive Director of the Small Business Roundtable, Founder of the NextGen Chamber of Commerce, a Senior Fellow at The Aspen Institute, and a contributor for Forbes.

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December 13, 2024
Rhett Buttle, Founder and CEO of Public Private Strategies, joined Fox Live Now to talk about the state of the economy and the outlook for 2024. Watch the full interview here or below.
October 7, 2024
*This article was written by Scripps News Staff. President Joe Biden announced that the government will cover 100% of Hurricane Helene cleanup costs for the next several months to pay for the urgent work to clear the mud, remove downed trees and provide temporary housing. The federal support comes as residents in multiple Southeastern states are still struggling to return to normal following last week’s storm that killed over 200 people. Katie Vlietstra Wonnenberg, a small business advocate and political strategist, said it is going to take a significant amount of time to finish the cleanup, no matter how hard the federal government works. Read the entire piece on Scripps News.
October 1, 2024
WASHINGTON, D.C. – This month marks the anniversary of two pivotal pieces of legislation that are helping fuel a small business boom, the CHIPS & Science Act and the Inflation Reduction Act. Over the past four years, there has been a historic growth of American entrepreneurship across the country, with over 18 million new business applications filed, each one an act of hope and optimism in our economic future. This small business boom is fueled by investments like the Inflation Reduction Act and the CHIPS & Science Act. Rhett Buttle, Founder and CEO of Public Private Strategies, released the following statement: “As we mark the two-year anniversaries of the CHIPS & Science Act and the Inflation Reduction Act, the positive impact across the business landscape, and particularly for entrepreneurs, is unmistakable. The CHIPS & Science Act is fueling entrepreneurship opportunities by dedicating over $50 million to help develop new ideas and technologies to strengthen domestic semiconductor production and supply chain. “The Inflation Reduction Act has helped lower costs for workers and consumers, driving up demand for small businesses across the country. The healthcare provisions of the Inflation Reduction Act alone are saving millions Americans an average of $800 per year on health insurance premiums. These investments have helped fuel America’s small business boom, including a record 18 million new small business applications filed over the past four years. “We have more work to do to address the issues that business owners have consistently said are their top priorities, from lowering health care and prescription drug costs to expanding and streamlining contracting opportunities for small employers to strengthening and protecting American democracy . We remained committed to working with business leaders to address these challenges and ensure these investments are implemented effectively to grow economies and support communities all across the country.” ### About Rhett Buttle Founder & CEO, Public Private Strategies President, Public Private Strategies Institute Senior Fellow, The Aspen Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. He has worked for President Biden, Vice President Harris, President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger in government and campaign roles. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policy makers, foundations, nonprofits, and corporations. In addition to PPS and PPSI, he has helped found the Small Business Roundtable, Small Business for America’s Future, and the Next Gen Chamber of Commerce. He is also a Senior Fellow at the Aspen Institute and a regular contributor to Forbes, where he writes on the intersection of business, policy, and politics. Rhett has also been featured in The New York Times, CNN, The Wall Street Journal, and several other business publications. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com .
August 21, 2024
Rhett Buttle, Founder and CEO of Public Private Strategies, joined LiveNOW Fox to talk about Night 3 of the Democratic National Convention.
August 20, 2024
Rhett Buttle, Founder and CEO of Public Private Strategies, joined LiveNOW Fox to talk about Night 2 of the Democratic National Convention.
August 19, 2024
Rhett Buttle, Founder and CEO of Public Private Strategies, joined Scripps News to discuss Night 1 of the Democratic National Convention.
August 15, 2024
Rhett Buttle, Founder and CEO of Public Private Strategies, joined Scripps News to discuss what a Kamala Harris Presidency could mean for small businesses. Watch the interview below
August 9, 2024
WASHINGTON, D.C. – This month marks the anniversary of two pivotal pieces of legislation that are helping fuel a small business boom, the CHIPS & Science Act and the Inflation Reduction Act. Over the past four years, there has been a historic growth of American entrepreneurship across the country, with over 18 million new business applications filed, each one an act of hope and optimism in our economic future. This small business boom is fueled by investments like the Inflation Reduction Act and the CHIPS & Science Act. Rhett Buttle, Founder and CEO of Public Private Strategies, released the following statement: “As we mark the two-year anniversaries of the CHIPS & Science Act and the Inflation Reduction Act, the positive impact across the business landscape, and particularly for entrepreneurs, is unmistakable. The CHIPS & Science Act is fueling entrepreneurship opportunities by dedicating over $50 million to help develop new ideas and technologies to strengthen domestic semiconductor production and supply chain. “The Inflation Reduction Act has helped lower costs for workers and consumers, driving up demand for small businesses across the country. The healthcare provisions of the Inflation Reduction Act alone are saving millions Americans an average of $800 per year on health insurance premiums. These investments have helped fuel America’s small business boom, including a record 18 million new small business applications filed over the past four years. “We have more work to do to address the issues that business owners have consistently said are their top priorities, from lowering health care and prescription drug costs to expanding and streamlining contracting opportunities for small employers to strengthening and protecting American democracy . We remained committed to working with business leaders to address these challenges and ensure these investments are implemented effectively to grow economies and support communities all across the country.” ### About Rhett Buttle Founder & CEO, Public Private Strategies President, Public Private Strategies Institute Senior Fellow, The Aspen Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. He has worked for President Biden, Vice President Harris, President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger in government and campaign roles. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policy makers, foundations, nonprofits, and corporations. In addition to PPS and PPSI, he has helped found the Small Business Roundtable, Small Business for America’s Future, and the Next Gen Chamber of Commerce. He is also a Senior Fellow at the Aspen Institute and a regular contributor to Forbes, where he writes on the intersection of business, policy, and politics. Rhett has also been featured in The New York Times, CNN, The Wall Street Journal, and several other business publications. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com .
July 21, 2024
WASHINGTON, D.C. – Today, President Joe Biden announced his decision to withdraw from the presidential race. Rhett Buttle, National Business Advisor to Biden for President in 2020, CEO of Public Private Strategies & Co-Founder of the Business & Democracy Initiative , released the following statement: “President Joe Biden showed us what selfless leadership in support of democracy looks like. “Through his work with policymakers across the aisle, President Biden and Vice President Harris led the country back from the brink during a pandemic and delivered bipartisan historic investments that will continue to ripple across our economy for generations, fueling strong job growth. The American Rescue Plan, Bipartisan Infrastructure Law, CHIPS & Science Act, and Inflation Reduction Act are some of the most significant economic achievements in modern American history. “This has led to record numbers of new business starts—more than 17.2 million—each one an act of hope and optimism for our future. We look forward to working with the Biden-Harris Administration over the next few months to continue strengthening our economy in support of businesses and workers all across the country.” ### About Rhett Buttle, Founder, Public Private Strategies and President, Public Private Strategies Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. Most recently, Rhett served as National Business Advisor to President Joe Biden’s 2020 campaign. He has worked for President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policymakers, foundations, nonprofits, and corporations. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com . As the United States marks the 14th anniversary of the AffordableCare Act (ACA), more Americans now have health care coverage than ever before. Since its enactment in 2010, the ACA has been a vital tool for Main Street, providing access to affordable healthcare options and fostering a healthier, more productive workforce.
April 29, 2024
WASHINGTON, D.C. – Today, the Bureau of Labor Statistics released its March jobs report, showing the US economy added 303,000 jobs in March while the unemployment rate fell to 3.8%. CNN characterized US job growth in March as “whopping,” with gains far outpacing economists' expectations. In response to the strong jobs report, Rhett Buttle, Founder of Public Private Strategies, released the following statement: “The labor market continues to exceed economists’ expectations, with over 300,000 jobs added in March – 50% more than economists anticipated. Bipartisan investments like the Bipartisan Infrastructure Law, CHIPS & Science Act, and Inflation Reduction Act are fueling broad-based economic growth that is strengthening the labor market, increasing consumer confidence , and leading to over 16 million new small business applications in the past three years – the most ever in that period and a reflection of deep optimism among American entrepreneurs about our economic future.” “Lawmakers must continue to double down on America’s economic momentum, and that starts with addressing the issues that business owners say are their top priorities, from lowering health care and prescription drug costs to strengthening and protecting American democracy .” ### About Rhett Buttle, Founder, Public Private Strategies and President, Public Private Strategies Institute Rhett Buttle is an entrepreneur, advocate, and one of the most trusted leaders at the intersection of business and policy in Washington, DC. Most recently, Rhett served as National Business Advisor to President Joe Biden’s 2020 campaign. He has worked for President Barack Obama, Secretary of State Hillary Clinton, and Governor Arnold Schwarzenegger. Rhett is the founder of Public Private Strategies (PPS) and President of the Public Private Strategies Institute (PPSI), which works to bring together the public and private sectors to build coalitions, activate campaigns, and create strategic partnerships to drive policy and market outcomes. In these roles, he advises leading policymakers, foundations, nonprofits, and corporations. About Public Private Strategies Public Private Strategies (PPS) creates opportunities where the public and private sectors meet. We bring together diverse allies including foundations, associations, corporations, small businesses, and entrepreneurs to solve pressing societal challenges. By harnessing the power of the private sector, we build coalitions, activate campaigns, and create strategic partnerships to drive desired policy and market outcomes. Learn more at www.publicprivatestrategies.com . As the United States marks the 14th anniversary of the AffordableCare Act (ACA), more Americans now have health care coverage than ever before. Since its enactment in 2010, the ACA has been a vital tool for Main Street, providing access to affordable healthcare options and fostering a healthier, more productive workforce.
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