Hillary Clinton has a new plan to strengthen small businesses by cracking down on bad business actors whose fraudulent business practices jeopardize small businesses and their workers. Hillary Clinton’s plan proposes giving small businesses recourse to fight back against unscrupulous big business practices that stiff small businesses when bills come due. She will leverage hundreds of billions of dollars in federal contracting to make sure small businesses get paid faster — and expand programs that put more working capital in the hands of small business owners so they can thrive, grow and hire. These proposals are part of her plan to fight for the largest investment in good-paying jobs in her first 100 days in office, one of her five major goals for our economy.
The announcement follows Clinton’s speech in Atlantic City, New Jersey, on Wednesday outside the former Trump Plaza Hotel and Casino, where she decried Trump’s failed business record and was joined by one Atlantic City small businessman, Marty Rosenberg, who was not paid in full for his work on a Trump property.
“I thought a lot about my dad in the last weeks as I learn more about Donald Trump’s business behavior,” Hillary Clinton said in Atlantic City. “My dad was a small businessman. If his customers had done to him what Trump did to these companies, he wouldn’t have made it, either. … We believe in an America where small businesses are respected, not scammed. I have a plan to make sure big businesses can’t stiff suppliers and contractors like Donald’s been doing for years.”
Clinton’s plan would enhance legal protections for small businesses that are repeatedly stiffed by large firms and give them better tools to protect themselves against predatory behavior by large companies. She would increase federal regulatory enforcement for unscrupulous big businesses that have a pattern or practice of using their market power to repeatedly exploit small businesses by not paying them, or otherwise defrauding or deceiving them. She also would ensure that small businesses have expanded means of recourse, such as through banding together to hold these practices accountable in court.
“Small businesses are the foundation of the American Dream, for generations providing opportunity for millions of American families and workers,” said former Small Business Administration Administrator Karen Mills, now a senior fellow at Harvard Business School. “Despite their resilience the recession hit them hard, but they have proven that given the resources and opportunity, they can and will continue to drive our nation’s economic growth and competitiveness. Secretary Clinton has laid out a plan that ensures small businesses aren’t taken advantage of and get paid on time, leverages federal dollars to ensure prompt payment, and expands access to working capital. This is important because whether it’s a Main Street shop or a startup tech firm, customer demand, cash flow and a friendlier tax and regulatory environment are critical. Secretary Clinton’s focus is on making sure small businesses have a government that is working for them, fighting for them and enabling them to grow and create jobs.”
Additionally, Clinton’s plan calls for leveraging the more than $400 billion in federal government contracting to encourage businesses to pay their suppliers in full and on time. Her plan also calls for expanding proven SBA loan guarantee programs that broaden access to working capital, so small businesses can weather periods where they are not paid on time – and thrive, grow, hire, and expand.
To read Clinton’s full proposal for defending, protecting and supporting small businesses from abusive big business practices, visit her website here.