Small Business

Arkansas is home to some of the world’s biggest and most profitable corporations, but the state’s economy is still not working for every community, particularly in rural areas. As governor, I will reject any approaches to development that focus exclusively on Little Rock and Northwest Arkansas while leaving rural communities behind. Average, hard-working Arkansans are the key to our state’s future, but under the Hutchinson administration, starting a small business comes with too much risk and not enough support. As governor, I will help innovators secure the capital they need to launch their businesses and expand, provide them with affordable health care and business training resources, and call on them first when the government contracts with private firms.

WE CAN:

Make it Easier to Start a Small Business

• Expand access to capital to help small businesses grow, especially in our rural communities. Automated lending practices and bank consolidation have made it much harder for qualified but underserved business owners to secure the financing they need to expand. As governor, I will work hard to protect community banks and incentivize lenders to invest in Arkansas.
• Establish a Medicaid buy-in option for entrepreneurs. We need to support rural innovators as they work to create jobs and a dynamic economy in Arkansas, and that includes providing access to affordable health care.

Encourage Startup Culture Across the State

• Launch the “Startup in a Day” initiative to streamline the process of starting a small business. This program will  obstacles to innovation, cutting red tape, and making entrepreneurship accessible to any hard-working Arkansan with a great idea.

• Expand Broadband Access to encourage small business growth across the state. 

Provide Technical Assistance to Small Business Owners

• Offer business education classes by partnering with local community colleges, business leaders and community organizations to ensure all small business owners are equipped with the knowledge and training they need to turn their visions to reality.
• Prioritize local small businesses with proactive outreach on contracting opportunities. I believe in the power of Arkansans to get the job done right, and we should call on them before out-of-state competitors or large corporations.
• Expand access to Arkansas Small Business, Development, Technology Centers to provide in-depth technical services to people starting small businesses. These centers should be more available in our rural communities to provide guidance on how to price goods, regulate inventory, and perform leakage studies.

• Partner with the legal community to provide legal support. Law students can continue to work with business owners to provide legal services. Hiring a lawyer can be extremely intimidating in terms of cost, and small business owners could need help setting up structure with expanding employees or changing structure.