Preston was on the Oxford campus to lead a discussion on the state of the economy and free trade. His lecture is among the first campus events being scheduled to address domestic issues in anticipation of the first presidential debate of the 2008 campaign, to be hosted at UM Sept. 26.
Sponsored by the Commission on Presidential Debates in Washington, D.C., the debate is to be broadcast live from the Ford Center for the Performing Arts on the Oxford campus and covered by an estimated 3,000 journalists from throughout the world.
"We in Washington have a great responsibility to keep the business environment that supports small businesses healthy," Preston said. "From my perspective, it is a great opportunity to be part of an agency of the federal government that not only helps disaster victims but helps entrepreneurs. Entrepreneurship is in our DNA; it's kind of who we are as Americans."
Since small businesses employ nearly half of the private sector workforce, create two-thirds of new jobs and generate nearly 30 percent of the country's exports, they are essential to the economy, he said.
Preston touched on four policies that he thinks are necessary to keep small businesses growing: encouraging investment by keeping taxes low; keeping regulation on small businesses reasonable; addressing the cost of health care; and getting better access to foreign markets.
"In a time when we're seeing slower growth and economic challenges, it's important to create opportunities for Americans," he said. "Exports are a bright spot in our economy, and there are a lot of people out there who want to buy the stuff we're selling."
Robert S. Forster, associate state director of the Mississippi Small Business Development Center at UM, said it was important for Preston to visit with the Mississippi SBDC to see what the center does to help support small businesses.
"Mississippi has been pointed out as a state that has taken positive steps in overcoming the effects of Hurricane Katrina and working closely with state and federal government agencies to take advantage of benefits they can provide to citizens of the state," Forster said. "His visit shows appreciation and confidence in what Mississippi is doing."
Preston was sworn in as the 22nd administrator of the U.S. Small Business Association in July 2006. Since arriving at the agency, his focus has been on enhancing the SBA's disaster relief efforts, especially on the Gulf Coast. Under Preston, the SBA has disbursed $6.9 billion to victims to rebuild their homes and businesses.
He graduated from Northwestern University with a political science degree and received an MBA from the University of Chicago. He and his wife, Molly, reside in Virginia.
For more information visit
http://www.olemissbusiness.com or http://www.mssbdc.org.
