Rural small business owners from 16 states have gathered in Washington, D.C., to advocate for policy changes that could drive economic growth. Organized by Goldman Sachs 10,000 Small Businesses Voices, the group of 60 entrepreneurs aims to address challenges such as access to capital, workforce issues, affordable child care, and regulatory burdens.
These business owners are set to participate in over 35 meetings on Capitol Hill alongside Small Business Administration Administrator Kelly Loeffler and various policymakers. Their goal is to present actionable proposals that prioritize growth and innovation.
David Solomon, chairman and CEO of Goldman Sachs, emphasized the importance of understanding the unique challenges faced by rural businesses. "Rural small businesses are engines of economic growth and job creation," he stated. "If we can create a favorable operating environment and policy landscape, small businesses will thrive and communities across America will benefit."
Jenny Steffensmeier, President of Steffensmeier Welding and Manufacturing in Iowa, highlighted the distinct needs of rural enterprises. "Small businesses are the backbone of America’s economy," she said. "While many small businesses face similar challenges, the solutions can’t be one-size-fits-all."
Goldman Sachs has committed $100 million to support rural communities through its 10,000 Small Businesses initiative. This program has already launched educational programs in ten states with significant rural populations and provided $37 million for Community Development Financial Institutions.
The gathering in Washington is part of an ongoing effort by Goldman Sachs 10,000 Small Businesses Voices to promote policies that enhance economic vitality in rural areas. Radio personality Bobby Bones also joined the event to discuss advocacy efforts.
Earlier this year, Goldman Sachs partnered with the Bipartisan Policy Center to release a report offering strategies for legislative efforts aimed at supporting small businesses.