The Evolving American Dream: Challenges and Resilience in Small Business
The American Dream has long been a symbol of hope and prosperity, a vision where every individual, regardless of their background, can achieve success through hard work and determination. However, over the past four decades, the path to realizing this dream has become significantly more challenging. This article explores the evolving nature of the American Dream and highlights the obstacles faced by small businesses, using the compelling stories of Ritu Shah-Burnham, Richard Clark, and Kenneth Jarosch.
Reimagining the American Dream
The poem invokes the struggles and sacrifices endured by those who strive to achieve the American Dream. It captures the essence of the dream’s complexity and the often overlooked difficulties faced by individuals as they chase their aspirations.
One might argue that with few individuals achieving the dream, it no longer applies to the majority. However, the dream persists, though it now requires more effort and strategic decision-making to reach.
ldquo;We want Independence we don’t want your American dream / Your dream is a nightmare with too many screams / Of families waking up in the middle of the night / Soldiers knocking down doors they blame us for starting the fight.rdquo;
The American Dream in Action
These stories illustrate the resilient spirit of the American people and the importance of entrepreneurship in the age of adversity. Ritu Shah-Burnham, Richard Clark, and Kenneth Jarosch personify the American Dream, each having an innovative idea and investing their time, money, and energy to turn their dreams into reality.
Ritu Shah-Burnham envisioned opening a pizza franchise in Seattle, Washington. Despite the obstacles, she succeeded in making her vision a reality. Similarly, Richard Clark’s determination to provide janitorial services in northern Florida led to the growth of his business into an enterprise serving over 200 employees. Kenneth Jarosch oversees a bakery that has been a staple in Chicago since 1959, testament to the time-honored craft of baking.
The State of Small Businesses in America
Small businesses play a critical role in the American economy, generating over 64% of all new private sector jobs. According to the U.S. Small Business Administration, there are over 28 million small businesses. Many of these small enterprises have roots that stretch back decades, representing every possible variation of the American Dream.
Entrepreneurship is not just a means to personal growth but a driving force behind the country's economic growth. The success of these individuals demonstrates the potential for innovation and resilience in the face of adversity.
Challenges Faced by Small Businesses
Despite the importance of small businesses to the American economy, the government's role in supporting these enterprises has been questioned. Instead of fostering a supportive environment for small business formation and growth, government policies often work against them. Excessive taxes, over-regulation, and complicated compliance requirements are major obstacles, particularly when it comes to issues like the minimum wage and healthcare mandates.
For instance, the push to increase the minimum wage has had detrimental effects on small businesses. Ritu Shah-Burnham and her employees faced significant financial challenges when the city of Seattle raised its minimum wage to 15 dollars per hour. The increased costs surpassed her ability to raise prices, leading to the closure of her business and job losses among her employees.
The Affordable Care Act, while well-intentioned, has also created complications. The requirement for businesses with at least 50 full-time employees to provide health insurance for all employees has become a burden, with many companies reducing their workforce to part-time to avoid the added costs. Richard Clark's business, which had to adapt to these mandates, faced the difficult decision of downsizing his workforce to maintain financial stability.
The Regulatory Iceberg
The regulatory landscape in America is complex and vast, with over 175,000 pages of federal regulations alone. This regulatory burden is further exacerbated by city and state regulations. Small businesses have to navigate through a maze of compliance requirements, many of which seem necessary but often create impractical obstacles. These regulations not only drain resources but also discourage new entrants into the market, ultimately stifling economic growth.
These regulations are like an invisible iceberg, hidden beneath the surface and almost impossible to avoid. The American dream, represented by these small businesses, is at risk of hitting this iceberg and sinking.
Conclusion
The American Dream remains a powerful concept, but it now requires a more deliberate and resilient approach. By understanding and supporting the challenges faced by small businesses, we can foster an environment that encourages entrepreneurship and sustainable growth. The stories of individuals like Ritu Shah-Burnham, Richard Clark, and Kenneth Jarosch serve as a reminder of what is possible and inspire us to adapt and succeed in the face of adversity.
ldquo;It still exists but achieving it has become progressively harder over the last 40 or so years.rdquo; The American Dream is not lost, but it requires a renewed focus on supporting those who aspire to make it a reality.