Verbatim: Leaders Address the Power of 'Necessity-Driven Entrepreneurship,' Recovery Act Funding, Eco-Friendly Vehicles, National Small Business Week

Periodically, GoodBiz113 presents diverse perspectives on small business and entrepreneurship from those who help shape small-business policies and practices. As we kick off National Small Business Week 2009, we highlight what some small-biz champions said last week...

"I think we’re going to see a lot of businesses started by people who otherwise would not have started businesses [in better times]... Necessity-driven entrepreneurship can be a powerful motivator.” -- Bo Fishback [pictured], vice president of entrepreneurship for the Ewing Marion Kauffman Foundation, a Kansas City entrepreneurial-research organization [May 11, "Starting Over -- as an Entrepreneur," The Wall Street Journal]

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"When a small manufacturer goes under, it sparks a ripple effect that resonates throughout the entire economy, shrinking a supplier base even further that can undermine large businesses like GM and Chrysler. If small manufacturers are cut out of the auto restructuring process, the result will only be further setbacks and large-scale job losses that reach far beyond the auto industry... It is critical that any restructuring accounts for small suppliers. Proposals to aid second-tier manufacturers, for example, would go a long way... Regardless of how the auto overhaul takes place, one thing is certain: it needs to be deep enough and comprehensive enough to reach small businesses." -- Rep. Nydia M. Velázquez [D-N.Y], chairwoman of the U.S. House Committee on Small Business

Auto suppliers told lawmakers they have seen little relief from efforts to shore up big automakers, and without help, many small-parts manufacturers will be forced out of business, sparking a ripple effect which will further undermine the entire automotive sector. During a House Small Business Committee hearing, small manufacturers appealed to Congress and the Obama administration to expand aid beyond major "first-tier" auto suppliers to stabilize an industry which employs millions across the country. [May 13, U.S. House Committee on Small Business]

* * *

“As banks throughout the country continue to tighten credit for small businesses, our small businesses are increasingly turning to credit cards to keep their doors open. At the same time, credit card companies are cutting credit limits and cancelling some accounts altogether... When entrepreneurs with outstanding credit are unable to get bank loans and suffer skyrocketing interest rates on their credit cards, they run out of sources to finance their businesses and are less likely to succeed... I will continue to work with Ranking Member [Olympia] Snowe and the other members of this committee to find new ways of freeing up credit for small businesses struggling to survive, including Senate Amendment 1079 that I filed to the Credit Card bill that is moving through the Senate this week. Protections from abusive practices should apply to small businesses as well as individual consumers.” -- Sen. Mary Landrieu, chair of the U.S. Senate Committee on Small Business and Entrepreneurship

Landrieu's committee held a hearing to explore how the small-business provisions of the American Recovery and Reinvestment Act are being implemented, and to find alternative sources of financing for small-business owners. The committee heard from SBA Administrator Karen G. Mills and from the president of American Express’s OPEN program, the company’s division that handles small business; a community development credit union; a microlender; and a company specializing in capital for high-growth firms.

In addition to ensuring that credit cards used by small-business owners are covered, the Landrieu-Snowe amendment would increase the Truth in Lending Act exemption of cards with credit limits of $25,000 or more to cards with limits of $50,000 or more. Fifty-two percent of respondents to a National Small Business Association survey reported having a credit card limit of $25,000 or more, essentially eliminating them from any of the protections of the Credit Card Act without the Landrieu-Snowe amendment. [May 13, U.S. Senate Committee on Small Business and Entrepreneurship]

* * *

"...The SBA-related provisions of the Recovery Act were designed not only to help entrepreneurs and small businesses keep the doors open… but also to help them grow and create jobs. I’m pleased to say that they are doing just that.

"First, of the SBA’s $730 million in Recovery Act funding, over half – $375 million – is targeted to temporarily increase the federal guarantees and reduce or eliminate fees on our two largest lending programs – the 7[a] and the 504... About 10,000 Recovery Act loans have been approved providing overall funding for about $3.3 billion in credit support to small businesses.

"Also, the average weekly loan volume is up over 25 percent compared to the weeks prior to the Recovery Act’s passage. This increased lending is partially due to the fact that lenders are returning to these SBA loan programs, or, in some cases, participating for the first time. More than 1,200 lenders have approved 7[a] loans as part of the Recovery Act. Of these, more than 360 lenders had not made a loan since October 2008, and about 40 percent of those lenders had not made a loan since at least 2007..." -- SBA Administrator Karen G. Mills, during her speech at the U.S. Chamber of Commerce's America's Small Business Summit 2009, in Washington, D.C. [May 13, U.S. Small Business Administration]

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“Transit Connect is a brand-new offering for small business in the United States. We call it a ‘white space’ vehicle because there is nothing else like it on the market.” -- Len Deluca, Detroit-based Ford Motor Co.'s director of Commercial Vehicles, after Ford submitted a proposal to the U.S. Department of Energy [DOE] for economic stimulus funding that would bring a fleet of 66 all-electric Ford Transit Connect delivery vans and Ford Escape Hybrid Plug-ins to the Twin Cities by the end of 2010, cutting the municipalities’ use of gas and providing an energy-saving example to the public. The vehicles would be charged up at special stations installed by Xcel Energy on city streets and parking ramps, as well as several high-profile “marquee” locations.

DOE set aside $378 million in federal stimulus package funds for such projects; the Minneapolis-St. Paul area proposal could be one of 34 projects to receive funding. Under terms of the proposal, each government, non-profit or participating entity must invest $20,000 in electrical infrastructure to charge up the vehicles. Courtesy of the stimulus package funding, the Transit Connect and Escape models would be free, leaving only the cost of the per-vehicle electrical infrastructure. Thus, the 18 Fords that would go to the city of Minneapolis would cost $360,000. In turn, the city would receive rechargeable vehicles worth nearly $1.2 million.

Electric cars were a key part of President Barack Obama’s 2008 campaign; he wants at least 1 million battery-powered vehicles on U.S. roads by 2015. Ford’s proposal to the DOE coincides with the automaker’s campaign to have 3,000 small-business owners and consumers in 13 U.S. cities test-drive Transit Connect vans before the vehicles reach showroom floors this summer.

Among all the myriad partners in this transportation electrification program: Ford Motor Co.; Xcel Energy; cities of Minneapolis and St. Paul; Hennepin and Ramsey counties; Minnesota Pollution Control Agency and state Department of Administration; the University of Minnesota; American Lung Association; Fresh Energy; and car-rental venture Hourcar. [May 15, Finance and Commerce]

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"The entrepreneurial spirit lies at the core of our Nation's economy and identity. If Americans with good ideas can work hard, put their plan to the test, and succeed, the American economy will continue to create jobs and lead the world in innovation and productivity. During National Small Business Week, we honor the entrepreneurs and small-business owners who are the engine of our economy. Their ingenuity and hard work are critical to our Nation's prosperity... Our Nation's success depends on America's small businesses and entrepreneurs. Their contributions are necessary to rebuild our economy, so that it once again offers the opportunity to succeed to all who seek it. This week, we thank small-business owners, entrepreneurs, and employees for helping America achieve that promise..." -- President Barack Obama, proclaiming May 17 through May 23 as National Small Business Week 2009 [May 15, The White House]

SOURCES: Recovery.gov, U.S. House Committee on Small Business, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration, The Wall Street Journal, The White House
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HHS Secretary Sebelius: Women and Small Businesses Pay 'Particularly High Price' Under Current Health Care System

Health and Human Services [HHS] Secretary Kathleen Sebelius and Tina Tchen, director of the White House Office of Public Engagement and executive director of the White House Council on Women and Girls, hosted a roundtable discussion yesterday with women small-business owners and discussed the urgent need for health care reform.

At the meeting, Sebelius also released a new report, "Roadblocks to Health Care: Why the Current Health Care System Does Not Work For Women." The report shows how our current system is leaving millions of women without the affordable, quality care they need and can be read at http://www.HealthReform.gov/. The new report and roundtable came as America celebrates National Women’s Health Week.

"All Americans are suffering under the current system, but women and small businesses are paying a particularly heavy price," said Secretary Sebelius. "Millions of women are uninsured, and small businesses are struggling to give their workers the care they need and deserve. We can’t wait to pass comprehensive health care reform and give women -- and all Americans – the health care system we need."

According to the just-released "Roadblocks to Health Care" report:

* 21 million women and girls are uninsured;

* In the individual insurance market, women are often charged higher premiums than men during their reproductive years. Holding other factors constant, a 22-year-old woman can be charged one and-a-half times the premium of a 22-year-old man; and

* In a recent national survey, more than half of women [52 percent] reported delaying or avoiding needed care because of cost, compared with 39 percent of men.

"Across the country, women and girls are going without care or paying too much for inadequate coverage," added Director Tchen. "President Obama and the White House Council on Women and Girls are committed to improving the health of all women, and we know that health care reform is essential to achieving our goal."

At the roundtable, Sebelius and Tchen also discussed the difficulties that small businesses face when attempting to provide health benefits to their employees. Nearly three-quarters of small businesses that do not offer benefits cite high premiums as the reason. Small businesses that do offer health benefits are suffering. Forty percent of businesses that provide health care coverage say health costs have had a negative impact on other parts of their business.

"Skyrocketing costs are making it difficult, if not impossible, for businesses to give their employees the benefits they deserve," added Sebelius. "Real reform will ease the burden on small business and help businesses stay competitive."

The roundtable discussion was held at Stitch DC, a knitting store owned by Nora and Marie Connolly, who participated in the discussion. Other participants included: Denise D’Amour, co-owner, Capitol Hill Bikes; Laurie Morin, co-owner, Capitol Hill Bikes; Erin Mara, co-owner, Homebody; Leah Daniels, co-owner, Hill’s Kitchen; and Angela Bradley, owner, BTI Security.

SOURCES: Centers for Disease Control and Prevention, U.S. Department of Health and Human Services
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Verbatim: Leaders Advocate Small-Business Outreach, Lending, Health Care, Micro-Credit, Optimism and Passion

Periodically, GoodBiz113 presents diverse views on small business and entrepreneurship -- directly from those who help shape small-business policies and practices. Here's what some key influencers said last week.

“We’ve received very positive feedback from entrepreneurs throughout the state who have attended recent Small Business Committee outreach conferences... These events have helped Louisianians learn how to get SBA-backed loans, secure federal contracts, and create new jobs for Louisiana’s workers. I look forward to another successful outreach conference in Baton Rouge to help our local small business owners manage a business that will add new jobs for the state and help get our economy back on track.” -- Sen. Mary Landrieu [D-La.], chair of the U.S. Senate Committee on Small Business and Entrepreneurship, announcing that that the committee will host a Small Business Outreach Conference on Friday, May 15, from 10 a.m. to 2 p.m., at the Baton Rouge River Center in Baton Rouge, La., for small-business owners looking to utilize federal and state small-business assistance programs.

Sen. Landrieu's committee will work with the U.S. Small Business Administration [SBA] and Louisiana Economic Development [LED] to provide brief overviews of SBA lending programs, federal contracting opportunities, LED’s Small and Emerging Business Development Program, plus other programs to help small businesses maintain and grow their businesses in this tough economic climate. The committee held several similar outreach conferences in Lafayette, Lake Charles and Shreveport, La., and plans to hold additional outreach conferences throughout the state in the coming months. [May 4, U.S. Senate Committee on Small Business and Entrepreneurship]

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"It's a bit of progress. Is it going to be sustainable? I don't know. The key is whether or not you can convince small businesses that now is the time to invest, given the historic low interest rates and fee reductions available through SBA financing." -- Kurt Chilcott, president of CDC Small Business Finance, a San Diego, Cal., lender of SBA-backed 504 loans. It approved $20.3 million in loans in April, up from $11.6 million in March. [May 5, The Wall Street Journal]

* * *

"Lack of access to affordable health-care coverage is a huge crisis for the small-business community in Maine and across the country. If we exclude action to address dysfunctional small group insurance markets from health-reform legislation, then we are going to leave 52 percent of the uninsured behind... The simple truth is that reform is going to require we realize savings – both to reduce the high burden of health-care costs and to enable us to assist those who truly need help to access care. We must not ignore promising measures such as SHOP, which can make fundamental improvement in coverage without increasing deficits. This is simply a common sense reform." -- Sen. Olympia Snowe [R-Maine], ranking member of the U.S. Senate Committee on Small Business and Entrepreneurship, and a member of the Senate Finance Committee.

In a May 5 roundtable discussion with the Senate Finance Committee, Sen. Snowe argued that limiting health-care coverage to firms with 10 or fewer employees will result in the failure to cover the 26 million uninsured Americans who work for firms with fewer than 100 employees. She is now moving to reintroduce the Small Business Health Options Program [aka SHOP Act], which permits small businesses and the self-employed to work together, across state lines, to secure affordable coverage and find ways to reduce administrative costs. [May 6, The Exception Magazine]

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"To get out of this recession, we need to do all that we can to help established small businesses and prospective entrepreneurs succeed and create new jobs... Just as they have in the past, small firms promise the surest path to a recovery, and these initiatives give them the right tools and support they need to prosper." -- Rep. Nydia M. Velázquez [D-NY], chairwoman of the House Small Business Committee, during a committee hearing to examine a bipartisan legislative package that would update key entrepreneurial development programs within the SBA.

On May 6, Velázquez' committee reviewed a print of the Job Creation Through Entrepreneurship Act of 2009. If enacted, the legislation would mark the first overhaul of the SBA's entrepreneurial development programs in a decade. The measure expands specific programs, such as Small Business Development Centers [SBDCs], Women's Business Centers [WBCs] and the Service Corps of Retired Executives [SCORE]. The bill also creates new support programs for veteran-owned and Native American-owned small businesses; improves cross-program coordination to maximize use of program resources; and creates 21st century online learning initiatives for entrepreneurs. In addition, the bill creates a grant program for SBDCs, specifically designed to assist small firms in securing capital and credit. [May 7, U.S. House Committee on Small Business]

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"Micro-credit has been one area where there has been no impact of the current banking crisis. It is still as robust as ever... The micro-credit system will play an important role in the recovery process, because people are losing jobs and the banks are not giving loans. The micro-credit system will help in creating self-employment by giving small loans, which in turn will help the economy." -- Professor Mohammad Yunus, an economist who won the 2006 Nobel Peace Prize 30 years after launching the innovative Grameen Bank project in Bangladesh in 1976.

In January 2008, the bank opened its first branch, Grameen America, in the Jackson Heights area of Queens in New York. In its first year, it lent a total of $1.5 million to more than 700 people to start small businesses or grow existing enterprises. [May 7, BBC News]

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"The president made a commitment that we will stand behind the auto companies and workers... Clearly, the problems that we face, and the challenges that we face today, didn't occur overnight and they're not going to be solved overnight. We need to get the economy growing. We need to get people buying automobiles again." -- Ed Montgomery, President Barack Obama's Director of Recovery for Auto Communities and Workers, during a two-day swing through Michigan to listen to pleas for help from local officials and workers in cities stretching from Grand Rapids to Detroit. [May 8, Chicago Tribune]

* * *

"...I have little doubt that there will be various interests -- vocal and powerful -- who will oppose different aspects of this budget. Change is never easy. However, I believe that after an era of profound irresponsibility, Americans are ready to embrace the shared responsibilities we have to each other and to generations to come. They want to put old arguments and the divisions of the past behind us, put problem-solving ahead of point-scoring, and reconstruct an economy that is built on a solid new foundation. If we do that, America once again will teem with new industry and commerce, hum with the energy of new discoveries and inventions, and be a place where anyone with a good idea and the will to work can live their dreams..." -- President Barack Obama [pictured above, with Office of Management and Budget [OMB] Director Peter Orszag, left, and Deputy Director Robert Nabors], upon presenting his Budget of the United States Government for Fiscal Year 2010 to the 111th Congress. [May 8, Office of Management and Budget]

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"Step by step, we are beginning to make progress. Of course, that is no solace for those who have lost their jobs, or to the small-business owners whose hearts break at letting longtime employees go." -- President Barack Obama, shortly after the government announced that the unemployment rate rose to a 25-year high of 8.9 percent in April. Labor Department figures show that 539,000 Americans lost their jobs last month, compared to more than 600,000 in March. [May 8, Voice of America]

* * *

"You will succeed, and your success will define you and the future of America... Passion is the driver of America's successful small businesses. It is the basis for our country's entrepreneurial spirit. And I strongly believe that this class has both an opportunity -- and a responsibility -- to discover and pursue your passion." -- SBA Administrator Karen G. Mills, addressing approximately 1,871 University of Maine Class of 2009 graduates at two ceremonies on Saturday, May 9.

Mills, whose career is characterized by notable successes in managing various kinds of businesses and in raising capital to support entrepreneurs, delivered an upbeat message for graduates entering the job market during difficult economic times. She pointed to passion as the defining characteristic of successful business owners, particularly in the context of small-business operations, and noted that small businesses are responsible for half of private-sector jobs and that they have created 70 percent of new jobs in the past decade. [May 9, The University of Maine]

SOURCES: BBC News, Chicago Tribune, Library of Congress, Office of Management and Budget, U.S. House Committee on Small Business, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration, The University of Maine, Voice of America, The Wall Street Journal, The White House
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Verbatim: Leading Women Small-Business Champions Promote Rural Economic Development, Green Technology, Worker Safety, Streamlined SBA Lending

Periodically, GoodBiz113 presents diverse views on small business and entrepreneurship -- directly from those who help shape small-business policies and practices. Since this is Mother's Day Week, we're focusing on what some key women influencers said last week. Oh, and on May 10, make time to remember those special women in your life!

"This funding will immediately stimulate our local economy by creating jobs and will lay foundations for long-term economic strength by upgrading and modernizing important infrastructure. We've taken important steps toward economic recovery already, and we'll continue working over the coming months and years to ensure our economy thrives. But I'm glad this funding is reaching our communities quickly and is supporting important projects that will boost the economy." -- Sen. Jeanne Shaheen [D-N.H., pictured], announcing that the city of Franklin, N.H. [population 8,735] will receive $3,555,000 in American Recovery and Reinvestment Act [ARRA] funds through the U.S. Department of Agriculture [USDA] for water and wastewater infrastructure projects.

The funds will be used to interconnect Franklin's water infrastructure with adjacent public water systems, which will create jobs and improve vital infrastructure. Funding will be provided through the USDA's Water and Environmental Program, which provides loans and grants to ensure that the necessary investments are made in water and wastewater infrastructure to deliver safe drinking water and protect the environment in rural areas.

Shaheen, a former small-business owner, became the first woman elected governor of New Hampshire, serving three terms from 1997-2003. In 2008, she became the first woman elected to the U.S. Senate from New Hampshire, and now serves on the U.S. Senate committees on Foreign Relations, Energy and Natural Resources, and Small Business and Entrepreneurship. [April 28, Jeanne Shaheen: U.S. Senator for New Hampshire]

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"The Clean Air Act is a landmark environmental law that has served us well for nearly four decades, but it simply was not written with the complexities of climate change in mind. The reforms needed are sweeping, and Congress must craft a policy that takes small business needs into account... Green entrepreneurship holds enormous potential for the lagging U.S. economy. Capping carbon emissions will not only protect our environment, but create an enormous market for the renewable energy and energy efficiency technologies being developed by our nation's entrepreneurs." -- Rep. Nydia Velázquez [D-N.Y.], chair of the U.S. House Committee on Small Business, during a hearing about how entrepreneurs and family farmers can play a role in addressing climate change, as well as the effect emission reductions could have on the small-business economy.

With their innovation and ingenuity, small businesses are leading developers of cutting-edge "green" technologies. Lawmakers noted that entrepreneurs make up 90% of the renewable-energy sector that is harnessing wind and solar power, as well as producing biofuels. The renewable-energy and efficiency sectors are leading a new wave of growth, and are expected to account for one out of every four jobs by 2030. Small businesses are also instrumental in efforts promoting energy efficiency in both existing and new buildings.

As stewards of the land, small family farmers are also keenly aware of the implications of climate change. In addition to promoting sound practices to conserve the land and stop runoff, representatives from the National Farmers Union told members of Congress about the lessons they have learned trading carbon offsets on the Chicago Climate Exchange. The revolutionary exchange boasts 3,500 members and trades $9 million worth of carbon credits, enough to mitigate 320,000 cars. [April 29, U.S. House Committee on Small Business]

* * *

"The goal of the process is to develop recommendations designed to assure accuracy of the supporting analyses and to identify alternatives that may reduce the burden on small businesses... I am alarmed that workers exposed to food flavorings containing diacetyl may continue to be at risk of developing a potentially fatal lung disease. Exposure to this harmful chemical already has been linked to the deaths of at least three workers. These deaths are preventable, and it is imperative that the Labor Department move quickly to address these hazards." -- Secretary of Labor Hilda L. Solis, announcing that the U.S. Department of Labor's Occupational Safety and Health Administration [OSHA] will convene a Small Business Regulatory Enforcement Fairness Act [SBREFA] panel May 5 on a draft proposed rule on occupational exposure to diacetyl and food flavorings containing diacetyl.

Solis' interest in this issue began when she was a member of Congress, and workers in her former California district developed irreversible lung disease after being exposed to this workplace hazard. At one time, she urged OSHA to issue an emergency temporary standard to protect these workers.

Under the Occupational Safety and Health Act of 1970, employers are responsible for providing a safe and healthful workplace for their workers. OSHA's role is to promote the safety and health of America's working men and women by setting and enforcing standards; providing training, outreach and education; establishing partnerships; and encouraging continual process improvement in workplace safety and health. [April 29, U.S. Department of Labor]

* * *

"Women business owners play a huge economic, cultural and social role in every part of American life... Women business owners are at the forefront of change and progress in this country. Addressing their special needs and helping them break down obstacles are critical to the nation’seconomic recovery. Ana Harvey is the right person to help SBA accomplish that task.” -- SBA Administrator Karen Gordon Mills, announcing that Ana Recio Harvey will serve as associate administrator of the U.S. Small Business Administration’s Office of Women’s Business Ownership.

Harvey is an experienced entrepreneur and was recently the president of the Greater Washington Hispanic Chamber of Commerce. As associate administrator of the Office of Women’s Business Ownership, Harvey will manage the agency’s efforts to promote the growth of women-owned businesses through programs that address business training and technical assistance, and provide access to credit and capital, federal contracts and international trade opportunities. [April 30, U.S. Small Business Administration]

* * *

“Today’s move by the SBA to streamline size standards for 7[a] loans will make as many as 70,000 more businesses eligible for government-backed loans... With banks throughout the country tightening lending standards to Main Street businesses, these companies have found it harder and harder to stay open. Increasing 7[a] size standards means more Main Street businesses that have been shut out of traditional lending markets will have the opportunity to utilize provisions of the Recovery Act to grow and strengthen their business.” -- Sen. Mary Landrieu [D-La.], chair of the U.S. Senate Committee on Small Business and Entrepreneurship, commenting on SBA's new rule to temporarily streamline size standards for businesses eligible to receive 7[a] loans. Sen. Landrieu had previously fought to streamline 7[a] size standards in the American Recovery and Reinvestment Act, and in two separate bills last Congress.

According to the SBA, this temporary 7[a] loan size standard will parallel the standard for the agency’s 504 Certified Development Company loan, and will allow businesses to qualify based on net worth and average income. The net worth for the company and its affiliates can’t be in excess of $8.5 million, and average net income after federal income taxes [excluding any carry-over losses] for the preceding two completed fiscal years can’t be more than $3 million. The 7[a] program is the SBA’s largest lending program. [May 1, U.S. Senate Committee on Small Business and Entrepreneurship]

SOURCES: Jeanne Shaheen: U.S. Senator for New Hampshire, U.S. Department of Labor, U.S. House Committee on Small Business, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration, Wikipedia
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BusinessWeek Names Three B Corporations Among This Year's Top Five Social Entrepreneurs

Last week, GoodBiz113 gave its readers a heads-up re the voting deadline in BusinessWeek's annual endeavor to identify leading social entrepreneurs ["April 26: Last Day to Vote for America's Most Promising Social Entrepreneurs"].

Well, the votes have been counted. This year's top five winners include three companies -- denoted by the asterisk [*] -- certified as B Corporations, which "use the power of business to solve social and environmental problems," and get to proudly display the above logo on their websites and all of their other marketing media:

1. BetterWorldBooks.com*
2. Impact Makers*
3. Stonyfield Farm
4. Academic Earth
5. CleanFish*

Kudos to these inspiring innovators, as well as to BusinessWeek for showcasing enterprises that are demonstrating the far-reaching power of balancing creative commerce with social change to serve the greater good.

SOURCES: B Lab, BusinessWeek
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