News From the
Committee on Small Business
Nydia M. Velázquez, Chairwoman

For Immediate Release
May 23, 2007

CONTACT: Kate Gilman/ Austin Bonner,  (202) 225-4038

Committee Passes Entrepreneurial Development Legislation
New Loans, Education and Investment Will Support Small Businesses and Economic Growth

WASHINGTON – Top priorities in fostering economic growth must be ensuring that entrepreneurs have access to the tools they need and creating an overall economic environment conducive to success.  The House Small Business Committee today approved four pieces of legislation that will help achieve this by modernizing the Small Business Administration (SBA) programs to best serve today’s entrepreneurs—a population that includes a growing number of women, veterans, seniors, and Native Americans.

“Today’s small business owners are leading the way when it comes to job creation and economic development in communities nationwide,” said Chairwoman Velázquez. “The legislation we approved today will ensure that the needs of the drivers of our economy – small businesses – are being met.”

The committee approved four bills during the morning meeting that modernize entrepreneurial development programs across the SBA:

• H.R. 2359, the SBA Entrepreneurial Development Programs Act of 2007, introduced by Committee Vice-Chairman Joe Sestak (D-PA), expands the role of Small Business Development Centers (SBDCs), targeting the most pressing economic challenges facing entrepreneurs today, from the rising costs of healthcare and energy, to coping with regulatory burdens.  It also expands the SCORE program to ensure services reach entrepreneurs across the country. 
• H.R. 2397, the SBA Women’s Business Programs Act of 2007, introduced by Congressman Mary Fallin (R-OK), expands the Women Business Centers’ reach across the U.S., and increases services in underserved communities. The legislation dedicates resources to strengthen centers and ensure stability in the program.
• H.R. 2366, the SBA Veterans’ Programs Act of 2007, introduced by Congressman Vern Buchanan (R-FL), creates additional Veterans Business Outreach Centers and offers business development services targeted to veterans.
• H.R. 2284, the Native American Small Business Development Act of 2007, introduced by Congressman Tom Udall (D-NM), creates a customized program to provide educational and technical assistance to Native American entrepreneurs. 

“As entrepreneurs have changed, so have the challenges they face,” said Chairwoman Nydia M. Velázquez. “To help them cope with this constantly changing environment, it is vital that small businesses have access to the technical assistance they need.”

Ensuring small businesses are able to access the resources they need through entrepreneurial development programs is critical to the success of entrepreneurs. These bills enable small businesses to access the technical assistance they need to mitigate the obstacles they are facing today.  It also ensures that emerging small business populations are able to utilize initiatives targeted to their specific needs.  This legislation not only reforms these critical programs, but it also makes sure small businesses nationwide are able to access the assistance they need to start and expand their entrepreneurial careers.   

“Strengthening and modernizing these programs will provide critical support to the small business owners who, in turn, put their knowledge to work in communities,” said Chairwoman Velázquez. “The proposals considered today make sure that brave, innovative individuals who use their ideas to start new businesses have the tools they need to thrive.”

###