During National Entrepreneurship Month, President Donald J. Trump issued a statement recognizing the role of entrepreneurs in driving the United States economy. He emphasized the contributions of innovators and business owners to job creation and community development across the country.
"Entrepreneurs have always been the heartbeat of our country and the engine of its unmatched competitive spirit. Their vision carries forward the conviction that tomorrow will be more prosperous than today, and my Administration will always support their ambition and drive towards a better future," Trump said.
The President addressed challenges faced by entrepreneurs, including regulation and bureaucracy. "For too long, suffocating regulation, crushing taxes, and needless bureaucracy have stood between innovators and their dreams. Entrepreneurs poured their energy into compliance instead of creativity, and countless ideas with the power to reshape lives never reached the market. Under my leadership, bureaucracy will never be a barrier to success—and I will restore the freedom that allows American ingenuity to thrive."
Trump outlined steps his administration is taking to support business growth. "My Administration is unleashing the power of American enterprise like never before. For every new regulation forced onto the books, ten others must be eliminated, which frees entrepreneurs to build without being restrained by endless red tape. We are restoring full and immediate expensing for business research and development, and we are supporting innovation in emerging technologies like crypto and blockchain—initiatives that give entrepreneurs the tools they need to compete and win. We are preserving the 199A small business deduction, a policy that is generating billions in economic growth and creating more than a million Main Street jobs."
He also referenced efforts to encourage manufacturing in America through regulatory cuts and tariffs aimed at protecting domestic industries: "It has never been easier to build new American factories, invest in American towns, expand American research, and equip American innovators with the foundation they need to succeed. Through the Made in America Manufacturing Initiative, we are cutting $100 billion in unnecessary regulation, while strengthening protective tariffs to shield our industries from unfair foreign competition and dishonest practices that threaten our economic and national security. This is the Golden Age for American enterprise—one that will keep our country the greatest force for prosperity and wealth the world has ever known."
According to Trump’s statement, there are currently 34 million entrepreneurial businesses in America responsible for over 40% of U.S. economic activity as well as two out of every three new private sector jobs.
"Today, 34 million entrepreneurial businesses generate well over 40% of America’s economic activity and create two out of every three new private sector jobs. When our greatest minds are empowered, the entire Nation ignites with innovation. This month we renew our commitment to the brilliant entrepreneurs who dream big, build boldly, and carry forward the spirit that preserves America as the most powerful hub of economic power and industrial might in history," Trump concluded.
