Small business owners (< 50 employees) are starved for capital because banks are not lending even when they have top credit.
With a minimum 15% capital gains tax rate, most owners do not sells personal assets to invest in their company because tax costs are guarenteed while returns are not.
Not paying a bank 7% plus fees on a loan and using your own capital instead amounts to a minimum 22% difference in capital costs, making it significantly easier to justify investments and hiring.
Businesses with < 50 employees create virtually all jobs in the U.S. because they are not generally in a position to consider overseas operations.