Encourage large companies and the federal government to hire small businesses
"Trump should create tax requirements to source more from U.S. based small supply chain companies, and use incentives to get companies to pay these suppliers more quickly and invest in them with technology and skills training," says Karen Mills, a senior fellow at the Harvard Business School and former head of the Small Business Administration. She served under President Obama from 2009 to 2013.
"Instead of squeezing their supply chain constantly, large companies, in exchange for enormous tax benefits, should treat their small business suppliers like partners, creating more value and more jobs at home."
Also, Trump should maintain and potentially expand the Small Business Innovation Research (SBIR) program, a competitive awards-based program that aims to encourage small-business owners to pursue technical innovations, says Martin Baily, the Bernard L. Schwartz Chair in Economic Policy Development and a senior fellow in Economic Studies at Brookings.
"This is a program that gets large federal agencies like the DOD [Department of Defense] and NIH [The National Institutes of Health] to provide a percentage of their innovation funding to small businesses," he tells CNBC.