Not really.
Most of us aren't accredited investors, so we can't buy stock in small companies without starting them, working for them, or being related to the founders.
Reduced taxation on small biz stock will make successful small biz more profitable, so it's a big deal for angels, VCs, and their limited partners, but because it doesn't increase the size of the investor pool, it just helps their returns.
This may have a modest effect on the number of funded small biz, but it won't help most of us.
You'd think that the super-genius' in the Obama administration would know about the accredited investor stuff.