Trump looks to cut funding to Small Business Administration, Lakewood businesses concerned

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Trump looks to cut funding to Small Business Administration, Lakewood businesses concerned

By James Gherardi
ABC News 5 Cleveland
March 28, 2017

LAKEWOOD, Ohio - The Trump administration is looking to cut more than $43million in funding to the Small Business Administration.

Among the programs being eliminated include grants for entrepreneurs,resources to help startup companies and the entire Minority BusinessDevelopment Agency; all are resources that helped spots like The Root Café andTease Hair parlor in Lakewood succeed.

"It's very challenging to do that if you don't have the support of someonebigger," said Emily Bobbitt, an employee at Tease Hair and BodyParlor.

"There should be support from the federal government for organizations likethe SBA because they need to be there in order to provide resources for smallbusinesses and if anything we should be strengthening them and not taking moneyaway," said Julie Hutchison, Owner of The Root Café.

"If you want to create jobs you got to do it with small businesses," saidLloyd Chapman, President of the American Small Business League.

Chapman's concerned that the President, who ran on the promise of creatingjobs, will inadvertently stunt job growth with budget cuts to the SBA.

"The number one issue to voters is jobs and the economy and the US CensusBureau data shows that small businesses create over 98 percent of all net new jobs.The Small Business Administration is the only agency in government to helpthose small businesses," he said.

Lakewood has a high concentration of small businesses. In reaction to thecuts, Ian Andrews, Executive Director of Lakewood Alive provided thisstatement:

"Lakewood is a community of entrepreneurs and small businesses. These folkshave put everything on the line to open the restaurant or store or firm oftheir dreams and the support of the Small Business Administration has helpedmany of them to make their dream a reality. We urge our elected officials tosupport the work of the Small Business Administration and safeguard theprograms that have supported businesses like Melt Bar & Grilled to bring anincredible business idea to fruition in Lakewood in 2006, now with multiplelocations across the state."

"Small businesses, not only are they giving service to the entire city, butthey're employing and giving a life to the people that are working for them,"said Hutchinson.

The Trump administration says they're making cuts to programs they considerredundant, or would be better provided by the private sector.

Congress will vote on the budget proposal likely sometime next month.

For the full story, click here: http://www.newsnet5.com/news/e-team/trump-looks-to-cut-funding-to-small-business-administration

 

 


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