During National Small Business Week, President Donald J. Trump issued a proclamation celebrating the nation's 36 million small businesses as the "cornerstone of our prosperity." The President detailed a series of legislative and regulatory victories designed to fuel what he termed a "New Golden Age for American enterprise."

Key highlights from the proclamation include:

The President noted that small businesses currently employ more than 45 percent of the American workforce. Spanning from family farms to tech startups, these 36 million entities are credited with fortifying the strongest workforce in history and anchoring local economies across all 50 states.

President Trump highlighted the One Big Beautiful Bill as the primary driver of the current small business boom. Significant features include:

• • Permanent Tax Deductions: The administration made the 20 percent small business tax deduction permanent, allowing owners to keep more of their qualified business income.

  • Incentivizing Growth: The bill increased tax deductions for new equipment purchases and business improvements.

  • Opportunity Zones: Expanded to unlock billions in private investment for emerging and underserved areas.

  • Working Family Tax Cuts: The President noted that nearly half of all taxpayers have already benefited from the "No Tax on Tips" and "No Tax on Overtime" provisions, which he argues puts more spending power back into the hands of hardworking citizens.

A major theme of the proclamation was the removal of "burdensome and unnecessary" red tape.

• • Suspending BOI Reporting: The President highlighted his decision to suspend the Beneficial Ownership Information (BOI) reporting requirements. He estimated this single action saved small businesses nearly $130 billion in paperwork and compliance costs.

  • Focus on Craft, Not Paperwork: The administration’s goal is to allow owners to focus on their specific trades and productivity rather than "endless paperwork."

The President reaffirmed his commitment to domestic production, stating that under his leadership, the U.S. is once again making products on its own shores. He framed his "America First" platform as a way to prioritize domestic jobs and industries over foreign interests.

As the nation commemorates its 250th anniversary, President Trump pledged to continue advancing the spirit of entrepreneurship. He concluded that by restoring the "American promise" of hard work and character, the administration is ensuring that the United States remains the premier "land of opportunity" for generations to come.

The Scale of American EnterpriseLegislative Victories: "The One Big Beautiful Bill"Aggressive DeregulationThe "America First" ResurgenceConclusion