![]() Unfortunately, conservatives have misidentified the challenges facing small businesses and are misrepresenting their needs to advance an ideological agenda in favor of large corporations and the wealthy. In fact, startup rates are on a 20-year downward trend that has only worsened since the financial collapse. The lack of capital access was exacerbated by the Great Recession, but stagnating middle-class incomes and rising wealth inequality caused a decline in small-business ownership starting in the early 2000s. Small businesses have faced tough challenges in recent years, from the increasing difficulty of competing in monopolistic markets to the collapse in demand caused by the Great Recession. Rather than employing thousands of lobbyists looking to gain an unfair competitive advantage through special interest loopholes and tax giveaways, small businesses must compete for their customers on a daily basis. Whether Main Street shops or family farms, they provide a counterbalance to the economic power of the increased concentration of large corporations, bolstering the middle class and ensuring political vibrancy. And small businesses are essential to dispersed economic power. They provide a career ladder of opportunity to being one’s own employer and encourage the innovation of products and services they also enrich communities across America and act as a bulwark of democracy. Small businesses are often cited as the backbone of the American economy.
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