My name is Jim Blann. I am the senior vice president of American Express Small Business Services. My testimony will focus on the work force needs of small business owners, because it was this issue that was identified as their number one priority. Most specifically, I will focus on the fact that small firms say that today's labor force suffers from a severe skills gap that inhibits their growth and profitability. Voices from Main Street was designed to help small business owners interact on a national level and discuss the issues most important to them.
Small businesses are the backbone of the American economy.
Given the contributions they make to this country, the situation we are dealing with is perilous. You no doubt are aware of how small businesses employ half of the country's private work force and account for half of the country's private sector output. Additionally, I want to point out that many large companies are affected tremendously by the rise and fall of small firms. My group alone at American Express serves more than 2 million small businesses. Very frankly, the survival and growth of small business is extremely important to big businesses.