WASHINGTON, D.C. — With the buzz of the 119th Congress and a new administration preparing to take the reins, small businesses are stepping into the spotlight. This week, Goldman Sachs 10,000 Small Businesses Voices and the Bipartisan Policy Center unveiled the Small Business Policy Playbook, presenting a bold and practical roadmap to remove hurdles holding back the nation’s small businesses. This forward-thinking strategy aims to level the playing field for small business owners, drive economic growth, and fuel innovation.
“Small businesses are the backbone of the American economy and will help fuel economic opportunity, growth, and prosperity,” said John F.W. Rogers, Executive Vice President of Goldman Sachs. With over 33 million small businesses across America employing nearly half of the private workforce, their vitality is critical to the nation’s economic health.
The playbook outlines three main areas where policymakers can make an immediate and meaningful difference—workforce, cost of doing business, and innovation. Released alongside a football-themed ad campaign urging policymakers to “score a win for small businesses,” the playbook doubles as a rallying cry and a solution-driven framework in a time when bipartisan action is sorely needed.
A Holistic Strategy for Small Business Growth
The Small Business Policy Playbook aims to tackle the most pressing challenges facing small businesses today—from finding qualified workers to accessing capital and navigating a labyrinth of regulations. “Republicans and Democrats agree that meaningful economic growth requires a thriving small business sector,” said Margret Spellings, President and CEO of the Bipartisan Policy Center. “This playbook offers clear legislative recommendations for bipartisan policies that can empower small businesses to access capital, innovate, and remain competitive in today’s rapidly evolving marketplace.”
The recommendations include:
Workforce Challenges
Competing with large corporations for skilled workers is a perennial struggle for small businesses. The playbook proposes enhancing the startup retirement credit and paid family leave tax credit to help small employers attract talent. It also advocates for expanded child care tax credits and workforce training partnerships through the Small Business Administration, enabling small businesses to support working parents and upskill their teams.
Cutting Costs and Red Tape
Reducing financial barriers is another critical area. Recommendations include expanding Small Business Investment Companies, revising microloan programs, and maintaining key tax incentives like Section 179 expensing. Simplifying regulations through a stronger Chief Counsel at the SBA’s Office of Advocacy is also on the table, easing the burden of compliance.
Fueling Innovation
To stay competitive, small businesses must tap into the latest technologies and opportunities. The playbook calls for strengthening procurement outreach to prepare small businesses to win federal contracts, expanding access to capital for small manufacturers, and equipping Small Business Development Centers (SBDCs) to offer expertise in digitalization and artificial intelligence.
A Call for Bold Action
Small business owners have made it clear they need Washington to deliver. The recommendations within the playbook were shaped by direct input from small business leaders who outlined their ongoing struggles and opportunities. Jessica Johnson-Cope, president of the family-owned Johnson Security Bureau, Inc., described the playbook as a “roadmap for empowering small businesses to thrive, grow, and create jobs in our communities.”
At a time when lawmakers and the incoming administration are seeking solutions to support economic growth, the playbook is a blueprint for bipartisan collaboration.Johnson-Cope urges lawmakers to pursue bipartisan solutions, highlighting the Small Business Policy Playbook as a key resource.
Potential Impact on the U.S. Economy
The stakes are too high to ignore. According to Goldman Sachs 10,000 Small Businesses Voices, small businesses generate nearly half of America’s economic output. Their recommendations could be a game-changer, enabling growth, resiliency, and competition against larger corporations in both domestic and global markets.
For instance, improving access to affordable childcare would alleviate a burden that forces many would-be workers—particularly women—out of the labor market. Expanding access to capital could spur new ventures and economic activity in underserved regions. And removing regulatory barriers could free up resources that small businesses can reinvest in their operations or workforce.
What’s Next?
The playbook is an invitation for federal policymakers to take concrete steps toward empowering small businesses. Its proposals underscore the importance of a modernized approach to fuel innovation, reduce inequities, and enhance economic opportunity nationwide. Whether its recommendations are realized depends on Congress’s ability to harness bipartisan momentum and act.
Small businesses are the lifeblood of local communities and the economy at large. By implementing the playbook’s recommendations, lawmakers have the opportunity to champion the needs of millions of Americans building their futures from the ground up—paving the way for a stronger, more inclusive economy in 2025 and beyond. Rogers emphasized the importance of recognizing small businesses as key economic contributors and partners in building the nation’s future.
The time for action is now, as small businesses gear up with renewed hope that Congress and the administration will run these plays to score wins for their futures—and for the American economy as a whole.
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