Posted by: Providence Chamber of Commerce | January 7, 2011

Economic Summit Addresses RI Small Business Concerns

What are the top concerns of Rhode Island’s small businesses over the next 12 months? Health care, taxes, economic development and regulatory reform are just a few.

Those were the common themes of the Economic Summit held Friday, January 07 at the Radisson Airport Hotel in Warwick. The 7th annual event was presented by the Rhode Island District Office of the SBA and the RISBDC at Johnson & Wales University.

The Chamber was pleased to be engaged in the lively dialogue. It was a unique opportunity for us to join Rhode Island’s small businesses to address Governor Lincoln Chafee and other top state officials  in the early days of their administration as well as talk with members of the state’s General Assembly about the upcoming session. 

A few interesting stats:
o There are 96,000 small businesses in Rhode Island
o These companies represent 96% of the state’s employers
o And 56% private sector employment

The result was a better understanding of what the state’s small business owners are facing and what we as a community need to do to address those concerns over the next 12 months.

The words of Dr. Winslow Sargant, chief counsel for advocacy for the US Small Business Administration resonated strongly with us here at the Chamber, as we continue to advocate for the advancement of the state’s Knowledge Economy.

“Research is the transformation of dollars into knowledge. Innovation is the transformation of knowledge into dollars.”


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