The Small Business Job Creation Myth

Fran Tarkenton, the legendary quarterback, is not a baby. Nor is he an expert, so I am unsure why he was a guest last night on the Sean Hannity show. But, out of his mouth came something that spoke the unintended truth. I cannot find a transcript online, but essentially Tarkenton said that while small businesses will create millions of new jobs each year, mature, large businesses lose jobs every year.

Everyone, Democrat and Republican alike, worships at the small business altar, but Tarkenton unintentionally gave away a dirty secret: One of the reasons new small businesses create such an inordinate amount of new jobs is that small business open, then fail, and then start anew all the time. Every new start entails “new” hiring. So, the next time you hear someone blab on about job creation and small businesses, ask them about job loss and small businesses. Somehow, that never makes the news.

I have nothing against small businesses and I ran one for 17 years. But they are not the be-all and end-all of our economic woes.

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In This Issue

December 2-15, 2016

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