News From the
Committee on Small Business
Subcommittee on Rural Development, Entrepreneurship and Trade
Heath Shuler, Chairman

For Immediate Release                       CONTACT:  Alex Haurek; Duncan Neasham
April 30, 2009                                                                                  (202) 226-3636

Panel Approves Job Creating Entrepreneurial Bills
Legislative Slate Updates Programs to Spur Entrepreneurship

WASHINGTON, D.C. — Today, the House Committee on Small Business Subcommittee on Rural Development, Entrepreneurship and Trade approved a series of bills that will update key Entrepreneurial Development (ED) programs within the Small Business Administration (SBA). During the markup session, lawmakers said the ED initiatives are needed now more than ever to support small businesses, create jobs and help bring the economy back on track.

“These programs offer resources and expertise that can help existing businesses expand and new enterprises get off the ground,” said Subcommittee Chairman Heath Shuler (D-NC). “The legislation we are passing today will strengthen these programs, providing small businesses with better access to valuable training, counseling and other services.”

It has been estimated that in 2008 alone, ED programs created 73,000 jobs and pumped $7.2 billion into communities across the country. To boost that job creation potential, lawmakers approved seven bipartisan bills during the markup session. The bills enhance existing SBA entrepreneurial development programs and create new initiatives for successful ventures to flourish nationwide:

During a Subcommittee hearing last month, witnesses told lawmakers about the value of entrepreneurial development programs, testifying that for every $1 spent on these initiatives, $2.87 is returned to the overall economy. The SBA’s entrepreneurial development programs have not been updated since 1999, making the legislation approved by the subcommittee today potentially the most significant update of the agency’s programs in a decade.

“Entrepreneurs need all the tools they can get to survive the recession,” Shuler said. “This package of bipartisan bills will strengthen the portfolio of services that SBA offers small firms, helping them to continue to grow, create jobs and contribute to our nation’s economic recovery.”

The legislative slate was approved by voice vote. The measures now need to be considered by the full House Committee on Small Business before they go before the entire House for consideration.

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Click here to see video from today’s hearing.