American Turkic Business Council DBA Texas Turkish American Chamber of Commerce hosted luncheon forum titled “How important are small businesses to local Economies” & “How Congress can boost small business in 2015”. SBA Houston new director Mr. Tim Jeffcoat and Congressman Randy Weber were both speakers at the luncheon.
Mr. Jeffcoat mentioned that a small business is defined as a business with 500 employees or less. According to the U.S. Small Business Administration (SBA), small businesses represent 99.7 percent of all employer firms. Since 1995, small businesses have generated 64 percent of new jobs, and paid 44 percent of the total United States private payroll, according to the SBA. Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established.
Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations. Small businesses tend to attract talent who invent new products or implement new solutions for existing ideas. Larger businesses also often benefit from small businesses within the same local community, as many large corporations depend on small businesses for the completion of various business functions through outsourcing.
Congressman Randy Weber mentioned that he is also a small business owner and he believes that small businesses are the engine that drives our economy. Congress must enact policies that will increase small business’s access to capital and remove government impediments to growth.
About 100 small business owners, officials and community leaders attended to the luncheon was held at the Turquoise Center. The event honored two individuals for their contribution to community and local economy. Mr. Detlev Simonis president for American petroleum association had received his award from Congressman Weber and Mr. Ayaz Nasser founder for Zenith real-estate had received his award from SBA director Mr. Jeffcoat
To wrap up the luncheon, Orhan Kucukosman, President for Texas Turkish American Chamber of Commerce presented Congressman Weber an Award that recognized Congressman Weber for his work in supporting American workers and small businesses through policies that encourage private sector investment and growth
The luncheon ended with the closing remarks by TTACC president Orhan Kucukosman.