Late last month, the White House announced that President Joe Biden’s “Bidenomics” approach to revitalizing the economy is working.
WWL’s Newell Normand has questions about that. So, he asked Guy Williams, President of Gulf Bank and Trust.
“I hear the word Bidenomics is about building an economy from the middle out and the bottom up. Well, that’s small business – and I just don’t… I don’t see where that connection is, you know, at all,” Normand said.
“The easiest way to help small business is to get out of the way and make it simpler to start a business, run a business, have less regulatory oversight,” said Williams. “And I’m not saying zero. Everybody always wants to go to, ‘Oh, you know, you want none,’ – I want it to be simple and transparent and so that it's easy for a business to know that they're doing the right thing.”
Normand said that with an estimated 60% of Americans employed by small businesses compared to 40% by big business, there should be a greater focus on those smaller businesses.
“There should be,” Williams said. “And I think part of it is just a misunderstanding of how business works. I think you need a significant number of changes in federal bureaucracy where you actually have people that have worked in small business.”
In addition to tackling the impact of federal policy on small business, they also discussed real-estate trends, underwriting for student loans, and German style ATM theft. Listen to the full conversation here.
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