Minnesotan on frontline of fight to level playing field for small businesses
GOLDEN VALLEY, Minn. — Small businesses are the backbone of the economy in Minnesota, accounting for 99.5% of businesses statewide, according to the U.S. Small Business Administration. But the economy hasn't been kind to small businesses.
Berek Awend runs American Drapery Systems in Golden Valley, his family's 47-year-old business. They also supply commercial window coverings and blackout curtains.
"Things cost more and that means I have to charge more and I have to sell more just to stay flat," Awend said.
He says to remain competitive and also grow the business, major help is needed from policymakers.
Awend is a member of Goldman Sach's 10,000 Small Business Voices. The group partnered with the Bipartisan Policy Center to ask Congress and the White House to level the playing field for small businesses.
"It would be really helpful to simplify the tax code and we need help to be able to grow our staff," Awend said.
They've developed a "Policy Playbook" with three key recommendations:
Competing for qualified workers: Offer tax credits for retirement, paid family leave, affordable child care and skills training to help smaller businesses compete with larger corporations.
Removing financial barriers: Increase access to capital, provide small business tax incentives and reduce red tape.
Sparking growth: Investment in technology and AI to help small businesses compete for federal contracts and access capital for manufacturing and exports.
Awend says these common sense solutions would give him the resources and access to capital to thrive.
"Then I can help develop employees. I can help make sure that they enjoy coming to work. I can help make an environment where we can innovate and find new tools so that we can sell different products online so that we can grow," he said.
Goldman Sachs announced a separate expansion of its 10,000 Small Businesses program in Minnesota back in October.
The program is run in partnership with St. Cloud Technical & Community College and focuses on rural entrepreneurs.
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