Commentary: It's the entrepreneurs, stupid

As former President Clinton's adviser James Carville told the nation in 1992, Clinton would be a better leader than President Bush because Clinton understood that the economy was the issue.

It seems we need to remind our state legislators as they ponder multiple taxes that will impact business, especially small businesses owned locally by Nevadans, that it's the small business guys who will get us out of this recession ... if you don't tax them out of existence.

The big guys getting the bailouts are not the leaders of our nation's economy. It's the innovators, the entrepreneurs and the survivors that will lead us out of this recession.

The Kaufmann Foundation analyzed hundreds of studies during the past several years and concluded recently that entrepreneurs drive our economy. Small businesses generate 60 percent to 80 percent of net new job growth, and most American innovations come from "the little guy."

In 2007, 1 out of every 3 adults in the U.S. created a new business, equaling about 495,000 new businesses per month.

From 1980-2005, firms less than five years old accounted for all net job growth in the United States.

Despite the fact that business bankruptcy filings in Nevada almost doubled from 2007-2008, just last month more than 200 new business licenses were issued in Carson, Reno-Sparks and Washoe County. Those small business folks, they are such optimists!

And 70 percent of U.S. voters get it. They think the health of the economy depends on the success of entrepreneurs.

And despite the fear many have about the "socialistic" policies being espoused in Washington, I have faith that we survive because of the legacy created in the Reagan-Thatcher era. Those two inspired almost every world government to embrace entrepreneurship. An article in the March 14 Economist highlights entrepreneurship, saying that despite the downturn, entrepreneurs are enjoying a renaissance the world over " and they can continue to enjoy it in Nevada as well.

Nevada is currently ranked No. 2 for the best state tax system in the Small Business and Entrepreneurship Council's annual Business Tax Index. While many in the Legislature use this statistic as a reason to raise our taxes, it's a key reason why Nevada has prospered.

So as you legislators seek ways to increase taxes on us small business folks, just remember, we have a majority of voters on our side.

As we navigate these difficult economic times, just know that the American Dream is alive. There are hundreds of small businesses out there that are going to pull us through this. So please, stop by one today and thank them ... and spend a few bucks with them, too.

- Randi Thompson owns As You Wish, a government and media relations firm.