As President Barack Obama continues to argue for his re-election, a report recently released from his campaign focuses on what he’ll do for Black-owned small business if given a second term and what he’s done so far.

“He understands that an entrepreneur’s willingness to work hard to turn his or her idea into a profitable enterprise is what’s made our economy the envy of the world,” the report said. “And like we’ve done since our nation’s founding, the president believes we need to invest in what it takes to give Americans and their small businesses the best chance to succeed.”

The president plans to invest in education in order for Black-owned small businesses to compete and be part of technology innovation in the nation. Obama also wants to build a stronger middle class within the African-American population.

The report also highlights 18 small business tax cuts Obama signed into law in order to give entrepreneurs access to credit.

“When President Obama took office, lending supported by the Small Business Administration (SBA)–which is more likely to go to minority-owned small businesses than traditional bank loans–had fallen by half. President Obama took immediate action by temporarily eliminating fees on SBA loans, increasing SBA guarantees and raising the maximum size of SBA loans,” the report noted.

At the National Urban League convention last week in New Orleans, Obama further explained his plan to help Black-owned small businesses.

“I believe that strong communities are places that attract the best jobs and the newest businesses. And you don’t build that kind of community by giving tax breaks to companies that are shipping jobs overseas,” he said. “You build it by giving tax breaks to companies that create jobs in Detroit and in Cleveland and in Chicago and right here in New Orleans, right here in America, using American workers, making American products that we sell around the world, stamped with three proud words: ‘Made in America.’”

Building on his progress, his campaign report outlines that he will cut taxes for businesses that hire new workers and make new investments. He’s also proposing a new 10 percent income tax credit for businesses that hire new workers or increase wages this year. Moreover, Obama would extend tax cuts to allow small businesses to write off 100 percent of the cost of new investments. The tax cuts would be available to nearly 2 million American-owned small businesses.

“By contrast, Governor [Mitt] Romney has proposed tax cuts targeted towards the largest corporations in the United States, cutting their tax rate by nearly a third, at a cost to taxpayers of $1 trillion over the next decade, with over 90 percent of the tax cut’s benefits going to the largest 0.6 percent of corporations,” the Obama campaign said.

If re-elected, Obama would also fund $26 billion in loan guarantees through the Small Business Administration next year and propose a Growth Zones initiative, which would provide expanded tax incentives for investment and employment in economically distressed areas with growth potential.