Trump salutes small businesses during National Small Business Week

President Donald Trump issued a statement recognizing National Small Business Week and highlighting the role of small businesses in the American economy.

“For 250 years, American small businesses have been the foundation of our national strength and empowered our citizens to achieve the American Dream,” President Trump said in the statement posted on the official White House website. 

The statement celebrates the 36 million small businesses in the United States that employ more than 45% of the American workforce.

“These hardworking men and women bolster our growing economy through the sweat of their brow and a steadfast determination to forge a brighter future for themselves, their families, and our Nation,” Trump said. 

The president pointed to last year’s passage of the One Big Beautiful Bill as a central achievement, citing permanent tax cuts, expanded opportunity zones, and increased deductions for equipment purchases.

“Most importantly, we made permanent the small business tax deduction, allowing small business owners to deduct 20% of their hard-earned qualified business income,” he said.

The statement also mentions regulatory relief, including the administration’s decision to suspend enforcement of Beneficial Ownership Information reporting requirements. The White House says that move alone saved small businesses nearly $130 billion in paperwork and compliance costs.

“As President, I am committed to championing the everyday business owners who drive our local economies, ensuring that they can focus on their craft rather than being burdened with endless paperwork.”

The president closed with a promise to the SMB community: 

“Together, we will restore the American promise and advance the spirit of entrepreneurship that makes our country the land of opportunity.”