 Thank you very much. Thank you. Oh please. Shae Shae. I'm just bragging that's thank you in Chinese. Thank you all very much. I'm delighted to welcome you the representatives of small business all across America to the White House and to this East Room. Today we pay tribute to the small business owners of our nation and in a few minutes It'll be my great pleasure to announce the 1984 small business person of the year You know not too long ago. I Was asked to explain the difference between a small business man and a big business man And my answer was that a big business man is what a small business man would be if only the government would get out of the Way and leave them alone That's what we're trying hard to do help the small business men and women of America make it big Before the founding of our great Republic Entrepreneurs led the rebellion Against excessive taxation and regulation and with your help. We're doing it again We're trying to put this economy back in the hands of the people and to give you the incentives to save Invest and take risks so that you can go as far as your God-given talents will take you and More wealth can be created at every level of our society. I Just have to interject and tell you that on this recent trip there in the communist government of the People's Republic of China They have recognized the value of incentive and it was amazing to see what Just allowing a certain amount of private entrepreneurism to their people What it has accomplished and how far they've gone and It was most encouraging and I had to believe that things are going to get better as they To stand there in the house of a young man with his wife and small son his parents living with them and Have him tell me how he saved and was able to build his own home there in a communist country and We of course know an awful lot about that in America but one of the great cornerstones of our way of life is Our right to openly and critically discuss the policies of government and there's a story about a Russian and an American who were talking about the freedoms in their countries and The American said listen in America He said I can stand on any street corner or out in the park or any place I want and openly criticize the president of the United States and The Russian said we have that same privilege in the Soviet Union And the American was pretty surprised He says I can stand on any street corner in any park in Russia and I can openly criticize the president of the United States But in some corners we still hear a lot of criticism about our economic policies And I just can't help wondering what the critics Why they haven't heard about our Recovery in fact some pretty renowned economists have been lecturing me recently and sending me letters Complaining that I'm talking about economic recovery And they say that we've passed that stage. We are now in economic expansion And I'm glad to be corrected From the mess that we inherited just three years ago a strong and a more vibrant America is taking shape Inflation once out of control is plummeted by nearly two-thirds. We're going to keep it down for good Productivity after falling for two years before we took office Rose three and a half percent last year and it's still rising Economic growth in 1983 was a robust six percent and for the first quarter of 1984 It grew at an amazing eight point three percent Venture capital which lays the foundation for a better tomorrow rose less than a billion dollars in 1980 It shot up four billion dollars last year That's the money that's there and available for people who want to do what you're doing to start up Go into business and have to borrow to do so and lo and behold The deficit which all the pessimists predicted would keep going up is now coming down and it's coming down because of economic growth and The deficit will keep coming down If the Congress would start devoting more energy to government spending than to raising your taxes To reducing government spending the best news is that we've had the steepest drop in unemployment in over 30 years Some five point four million more Americans have jobs today than just 17 months ago 106 million Americans are employed and that's the highest number ever in the history of our country Last year alone almost 600,000 new businesses were incorporated and that's an all-time high in our history Now most of those were small business ventures Spearheaded by individuals like yourselves proud and independent Taking risks and putting in long hard hours to earn a living and be your own boss Each one is just a tiny piece of the economy but together America's small business owners represent a dynamo of energy and creativity that can take our country Toward unprecedented levels of opportunity and freedom Perhaps most importantly during this expansion small businesses like the ones you own Provided the most new jobs Gave the most employees the freedom to work part-time and hired the most young people senior citizens and women And that's why we must go forward toward new goals so this economic expansion can last Small business and large industries aren't moving forward again because some big spending bureaucrats Handed out more subsidies This expansion was created by bringing down inflation and tax rates We don't need less of a good thing. We mean we need more of a good thing and that's why I favor I'll put in a plug right here a line item veto the balance budget amendment and a sweeping comprehensive reform of the entire tax code In California as governor, I had line item veto at an eight years. I vetoed 943 spending items that had been attached to otherwise necessary legislation and they never overrode one of those 943 vetoes Presidents should have that too If you can bet that I'm going to continue to press for these reforms and they'll do they'll do wonders for small business I'm pleased to tell you that just yesterday. I signed legislation Authorizing a second White House conference on small business We'll soon begin the conference process and I call on all small business owners to participate in state and regional Conferences leading to the final session at the White House. It will take place in 1986 Small business employees about half of our private workforce Contributes 42% of sales and generates about 38% of our gross national product So America is small business Small firms are on the cutting edge of innovation providing products ideas and opportunities for the future Small business is dreaming impossible dreams and making those dreams come true This week National small business week provides an excellent opportunity to salute some of our most successful small firms and the men and women Who are the real heroes behind America's success? The entrepreneurs here today you are from every state the district of Columbia and Puerto Rico You represent industries as diverse as printing nursing home care furniture electronics Lumber seafood and professional baseball And they're all pioneers in America's continuing frontier of opportunity the free market system and now for the most pleasant job that I've had all week and I'm sure that it wasn't up to me to pick the winners Because believe me every one of you as a winner and we're very proud of what you're doing the three top award winners are Robert Battles of Gulfport, Mississippi Who started a small company in 1980 and last year of sales totaled almost four million dollars? Frederick Starrett, Jr. Of Belfast, Maine in the past three years his frozen food company has tripled sales and employment has risen from 70 to 270 workers and finally William Fodner of Monette, Missouri 32 years ago. He started to make aluminum windows in the basement of a laundry today. Mr. Fodner's F co-corporation employs 410 workers and is the second largest producer of non-residential aluminum windows in the United States and The 1984 small business person of the year is Mr. William Fodner Thank you all again and God bless you all and now they told me I have to do what the little girl told me in a letter when I first got here She wrote me a letter told me everything that I should do and then said now get over to the Oval Office and get to work