Romney: SMBs are answer to economic challenges

6/21/2011

With the American economy continuing to sputter, presidential hopeful Mitt Romney is labeling small businesses as the answer to ongoing economic concerns, Fox News reports.

Romney recently spoke to small business owners at the Buddy Brew coffee shop in Tampa, Florida. He discussed several critical issues, such as employment and the struggling job market. Romney believes the economy can be kick-started by lowering commercial taxes, encouraging foreign trade, reducing regulations and improving small business lending.

"Small business is the answer to our economic challenges and I'm sometimes disappointed that our President doesn't understand small business," Fox quotes Romney as saying. "I will make job number one for my administration to get America to be the number one job creator again."

Revitalizing the economy is a complex issue, with a variety of organizations fingering a number of different issues as the prime hindrance. Some economists believe small business lending needs to be improved for an economic recovery to occur, while others point to low consumer spending as a top issue.