President Unveils Small Business Plan at Women's Entrepreneurship Summit

Excerpts from the President's remarks at the Women Entrepreneurship in the 21st Century Summit at the Ronald Reagan Building and International Trade Center, Washington, DC, March 19, 2002.

THE PRESIDENT: I want to thank those who organized this summit. I think it's a very important summit. I think it's important to advance the spirit of entrepreneurship and equality and opportunity for everybody who is fortunate enough to be an American. I'm honored to be with you and I'm glad you invited me, because I believe small businesses are really important to future of our country. . . .

I know small businesses are the path to success for many Americans -- especially women, the newly arrived, minority Americans. Small businesses create jobs, and this is incredibly important for our economy at this time. Small businesses embody the American values of hard work, risk-taking, and independence. And so, today I want to discuss with you a series of new policies to encourage and reward the work of America's small business women and men. . . .

One of the things this summit recognizes is there's been a fundamental change in our economy. When it comes to entrepreneurship and job creation, ours is an increasingly woman's world. The truth of the matter is -- and the reason why I say that is women-owned businesses are growing at twice the rate -- two times the rate -- of all other United States firms. That's a remarkable accomplishment for the United States of America. And the interesting other fact that I want to point out to people listening is that women firms now employ 7 million Americans.

Small business ownership is a great equalizer in America. The only connections you need are happy customers, a good business plan. The only credentials you need are good products. The only values you need is to be willing to take risk and to work hard. For millions of minorities and women and new Americans, small businesses provide a great chance to succeed in America, a chance to realize your dreams.

For some women, a small business brings the satisfaction of success without having to go through the frustrations of corporate life. I suspect there are a lot of women entrepreneurs in this room and around the country who tried out corporate life and found out and agree with what this entrepreneur said. Nancy Miller put it this way: You succeed or fail based on your own abilities, not on politics or anybody else. She's got a pretty good point there. She talks about the freedom that comes with owning your own business. And it's so important that our country maintain that flame of freedom, the entrepreneurial spirit of America.

What the other -- and the reason I love the entrepreneurial spirit, because it provides people a chance to be creative, to build, to contribute, and to own.

Being your own boss, as Sherrin Holder of Virginia describes it, brings a sense of pride and accomplishment, a sense of ownership, and a growing hope for success. She captures the feeling of every entrepreneur. You can advance yourself, and you can do good by doing so. As you succeed, you help others to succeed, first and foremost by providing somebody with a job.

You can dream big dreams in America, and my job as the President is to make sure that if you've got a good idea, you can realize those dreams. And as importantly, when you're successful, you can pass on your assets to your children, if you so choose, or to anybody you desire to.