PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Frank the Entrepreneur: White House “Gig” May Help Boost Entrepreneurship

By at 15 September, 2017, 5:36 pm

President Trump Sends “Powerful” Message, Says Advocate for Entrepreneurs

Washington, D.C. – Whether he knows it or not, Frank Giaccio, the young entrepreneur who asked President Trump in a letter if he could mow the White House lawn, is a member of the “gig economy” – those self-employed entrepreneurs making a living or bringing in extra cash to support themselves or their families.  Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan applauded Frank for his audacious “bid” to mow the White House lawn and said his action, along with President Trump’s agreement to give him the job, helps to showcase America’s entrepreneurial spirit. That spirit, according to Kerrigan, needs a big boost as entrepreneurship has been on the decline for some time.

“Entrepreneurship, especially among young people and millennials, is very weak. I applaud Frank for his initiative and thinking big by asking President Trump for the chance to mow the White House lawn. It just shows you that risk-taking has its rewards, and our nation needs more risk-takers who are willing to start businesses,” said Kerrigan

According to a gap analysis produced by SBE Council, there are 3.4 million “missing businesses” in the U.S. economy. Other government and private sector reports support this worrisome trend, including the SBA Office of Advocacy, which reported that millennials were the least entrepreneurial generation. We are not quite sure about Generation Z, Frank’s generation, but Kerrigan said his example is very powerful and can influence others.

“Frank’s work at the White House today is a celebration of entrepreneurship. And President Trump’s support and engagement with Frank is a powerful signal about the value of all entrepreneurs in our economy. I am positive this will drive more more discussion about entrepreneurship, and hopefully more action by people to take that next big step. When President Trump was in the private sector he used to say ‘if you are going to be thinking, you may as well think big’ and Frank lived those words today,” Kerrigan observed.

Kerrigan added that the U.S. environment for starting and growing a business needs some work. Some of the key policy areas that the White House and Congress are working on – such as tax reform, regulatory relief and affordable health care, among other issues – will encourage more risk-taking, capital formation and investment which will help fuel startups and small business growth.   Kerrigan also pointed to a bipartisan bill that was just released by the House Small Business Committee that will especially help micro-entrepreneurs and “gig” economy participants of any age – H.R. 3717, the Small Business Owners’ Tax Simplification Act The bipartisan bill includes important reforms that update thresholds and dates for reporting, clarifies items in the tax code, and allows small business owners to both participate in and offer health cafeteria plans.

See Kerrigan’s recent testimony before the House Small Business Committee: Reversing the Entrepreneurship Decline.

CONTACT:
Karen Kerrigan, kkerrigan@sbecouncil.org
703-242-5840 

SBE Council is a nonpartisan, nonprofit advocacy, research and education organization that works to protect small business and promote entrepreneurship. For nearly 25 years SBE Council has worked to successfully implement a range of policy and private sector initiatives to strengthen the ecosystem for startups and small business growth. To learn more, visit SBE Council’s website: www.sbecouncil.org. Follow on Twitter: @SBECouncil

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