David Jhoon Kim is the former CEO and co-founder of C2 Education Centers which he founded in his college dorm room along with Jim Narangajavana. Currently, he is the publisher of Teen Ink.
Year after year, small businesses consistently make up over 99% of all businesses in America. In 2016, small businesses employed approximately 48% of the total workforce and created 1.8 million new jobs – 1.2 million of which were jobs in businesses with fewer than 20 employees. Although large and wealthy corporations dominate the news and control our current politicians, in reality, small businesses are the core of communities like CA-34.
Small businesses empower immigrants and people of color to realize the American dream just as David and his parents and family members were able to, be it through being employed by a small business or owning one. Thus, as an employee and a previous small business owner, David is all too familiar with the setbacks encountered when running a small business and the lack of direct helpful support for small businesses all around.
The U.S. Small Business Administration (SBA) offers various funding and advisory programs for small businesses, but they are often difficult to access and require a complicated application process. The federal government does not do enough to help individuals launch small businesses and instead has prioritized cutting taxes for the rich and giving bailouts to irresponsible banks and large corporations. The COVID-19 pandemic has shown that Congress can provide better, direct assistance to small businesses, such as the Paycheck Protection Program (PPP) and related disaster assistance funding. These federal programs should not only be available during times of crisis but be available to help small businesses across the nation prosper at all times.