On the recordMay 5, 2022
Mr. President, it is National Small Business Week, a week that is set aside to honor the contributions that small businesses make to this Nation. Small businesses are an essential part of our economy. Ninety-nine percent--99 percent--of South Dakota's businesses are small businesses, and almost 60 percent of South Dakota employees work for small businesses. Nationally, small businesses make up most of the businesses in this country and are responsible for 62 percent of net new job creation. And small businesses are not only an essential part of our economy, they are also an essential part of our communities--doing everything from creating gathering spaces for community members to supporting local charities and sponsoring local sports teams. During National Small Business Week, I would like to be able to report that small businesses around the country are thriving. But the truth is, while some are doing well, a lot of small businesses are having a difficult time right now, not because of COVID, as Democrats might like you to think, but because of inflation. Inflation, which has hit American families hard, is also creating major difficulties for small businesses. Now, when I talk to small business owners in South Dakota, one of the first things they tell me is how inflation is affecting their businesses.…





