AIC Press Tour – Celebrating Small Business Saturday
Media coverage in states including Texas, Iowa, Michigan, Ohio, and Maine showcases private equity’s impact on small businesses and small business owners across the country.
WASHINGTON, D.C. – In advance of Small Business Saturday on November 30, the American Investment Council (AIC) launched a nationwide press tour to spotlight how private equity is supporting small businesses and local jobs in communities across the country.
AIC’s Drew Maloney, Emily Schillinger, and Jamal Hagler sat down with local news outlets in over ten states to discuss how private equity partnerships are growing neighborhood businesses and supporting the local shops families count on during the holiday season.
Key moments from media coverage include:
Highlighting the value of private equity to small business owners:
WKZO-AM and WTKG-AM (Grand Rapids, MI) – Maloney: “We’re seeing a lot of [private equity investment] outside of the major metropolitan areas. We’re seeing growth in rural America with small businesses.”
The Doug Wagner Show (Cedar Rapids, IA & Davenport, IA) – Maloney: “Small businesses are the backbone of every community across the country. This is especially true in Cedar Rapids, where there are nearly 30 private equity-backed small businesses in the community that support about 13,000 jobs in the area… Small businesses start with a great idea, but they need capital to grow. That’s where private equity comes in to partner with these small businesses and not only provide capital but provide industry expertise to help them scale, market, and grow in the communities they operate in.”
KETK-TV (East Texas) – Schillinger: “Anywhere you live, if you live in a community, you know a small business owner. It’s an important part of our community and an important part of our lifestyle… What most people don’t know is that 85% of all private equity actually goes to support small businesses. We work in partnership, hand in hand, to help small business owners across the country keep their stores open, keep their employees employed, and keep contributing to the community.”
WBBJ-TV (Jackson, TN) – Hagler: “Americans are dealing with inflation and small businesses have been feeling the pressure. Private capital and private equity are important partners to help navigate those issues.”
Business First AM (National) – Hagler: “Private equity provides capital to help expand, add new facilities, and grow. The second thing that private equity is doing is providing expertise. In many instances, private equity managers have been there before, they have experience with various scenarios that entrepreneurs are dealing with, and they are there to help navigate those issues and come out on the other side stronger.”
Featuring local small businesses backed by private equity:
WWJ-AM (Detroit, MI) – Maloney:“If you look in Detroit, you look at the company Shinola. It’s a great brand. It started in 2011 with an idea – an idea to make high-quality manufactured goods and provide well-paying jobs. They now have over 400 employees and they’ve gotten private equity backing to help them grow and scale to where they have stores in Miami, New York, and Washington D.C. It’s that type of partnership that allows small businesses to expand and grow.”
WLOH-AM (Columbus, OH) – Hagler: “Private equity is an important asset class where entrepreneurs partner with experts in managing businesses so that they can roll up their sleeves and help a business grow. Condado Tacos, a restaurant started in Columbus, Ohio, has been able to expand and grow because of private equity.”
Covering how policymakers can support small business in the years ahead:
WGME-TV (Portland, ME) – Hagler: “One of the most important things [leaders can do to support private equity] is stability. For all businesses, making sure that the rules of the road remain the same is a crucial and important thing. Policymakers should do everything they can to make sure the rules of the road don’t change and there are not a bunch of roadblocks put up to prevent businesses from growing and expanding.”
WPHM-AM (Detroit, MI) – Maloney: “We believe elected officials on both sides of the aisle agree on the importance of supporting small businesses. The economy depends upon small businesses for job creation and innovation, and they enrich the communities they operate in. We want elected officials to encourage investment in small businesses and not put up roadblocks or regulatory red tape. That’s what we’re doing here in Washington.”
To learn more about how private equity supports local economies and small businesses, visit investmentcouncil.org
