The Travelers Institute, the public policy division of The Travelers Companies, Inc. (NYSE: TRV), today convened a discussion at the New York Stock Exchange (NYSE) to raise awareness of issues impacting entrepreneurs and recommend solutions for success. Today's event culminates the national, multi-year “ Small Business - Big Opportunity” symposia series, and U.S. Small Business Administration head Karen Mills delivered the keynote address.
At the event, Travelers Chairman and CEO Jay Fishman proposed specific solutions, including developing a three-year incubator period during which small businesses would face lower taxes and fewer regulatory requirements and penalties. He also recommended that cities and states consolidate overlapping and redundant regulations to reduce red tape.
“As one of the largest insurers of small businesses, we have a first-hand view of the challenges they face, and we feel a responsibility to advocate for their success,” said Fishman, whose father was a small business owner. “In addition, sound economic policy that promotes small business growth and job creation is important for our nation's economic success and preserving and promoting the American opportunity.”
NYSE Euronext CEO Duncan Niederauer discussed the company’s jobs-growth initiative, “ The NYSE Big StartUpSM is a joint partnership to fuel new business creation, capital-raising activity and employment growth.”“By connecting small businesses with established corporate enterprises, we are creating a thriving hub for collaboration and entrepreneurship offering startups and small enterprises new resources for boosting procurement, networking, business development, training and more job opportunities,” Niederauer said. “We applaud Travelers leadership in identifying ways to spur economic growth and job creation, and we welcome the opportunity to co-host the Small Business – Big Opportunity Symposium at the NYSE.” In addition, Tokumbo Shobowale, who was recently appointed as the Chief Business Operations Officer by Mayor Bloomberg, detailed New York City’s successful efforts to reduce burdens on small businesses.
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