WASHINGTON, DC- Today, the House Armed Services Committee adopted an amendment to the Reauthorization of the Department of Defense for Fiscal Year 2007 by Congressman Todd Akin (R-MO) to assist small business owners also serving in the military. The amendment establishes a task force to aid in the coordination of DoD and SBA programs that aid National Guard and Reservists who own small businesses and are facing deployment abroad.
"The Congressional Budget Office (CBO) estimates that out of the 860,000 reservists in the Selected Reserves, nine percent are self-employed and small businesses employ approximately 18 percent of all reservists who hold civilian jobs," said Akin. "Due to the lack of predictability of activation, some business owners do not always have a business plan in place before the service member deploys. In addition, the reserve components of the U.S. military are deployed for longer periods of time than ever before. Because of these two factors many small businesses experience economic hardship both during deployment of the activated service member and after their tour of duty."
The task force will issue recommendations to improve the coordination of the programs and activities relating to entrepreneurial service members (and those small businesses that employ them) conducted by the Department of Defense, Small Business Administration, and their private sector partners and affiliates. The task force will also provide input to the Secretary and the Administrator with respect to measures that would improve the programs and activities of the Department and the Administration that are designed to address the economic concerns, as well as the business challenges of entrepreneurial service members.
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