In an interview with Larry Kudlow on CNBC, Mitt Romney falsely claimed that the number of start-up businesses decreased under President Obama:
“Larry, the number of new business start-ups has dropped by 100,000 a year under President Obama, and that’s costing us a lot of jobs.”
The facts, once again, refute Romney’s claim. Americans are creating more businesses now than before the recession:
The number of start-up businesses in 2009, 2010, and 2011 is higher than it was at the end of the Bush administration.
That entrepreneurship rate is more than 5 percent higher than pre-recession levels. Last year, 3.2 of every 1,000 adults created a business.
The growing number of new businesses reflects President Obama’s commitment to supporting small businesses and his belief that they are the “cornerstones of America’s promise.” That’s why he has signed 18 small business tax cuts to help small business invest, offer health care, and hire. His administration also extended a record $30.5 billion in loans to more than 60,000 small businesses in the 2011 fiscal year, including $5.8 billion in loans to more than 16,000 start-up businesses. And earlier this month, the President signed the JOBS Act, making it easier for start-ups and small businesses to raise funds and eventually go public.
By contrast, under Romney’s leadership in Massachusetts, Bay Staters saw their jobs shipped overseas. When it comes to business creation, there’s a clear difference between President Obama’s and Romney’s records.