Bipartisan Entrepreneurial Development Bill Expands Opportunities for Women- and Minority-Owned Small Businesses

Late yesterday, Senators John Kerry [D-Mass.] and Olympia J. Snowe [R-Maine, pictured] introduced comprehensive legislation to promote far-reaching entrepreneurial development programs. In particular, the bill expands women and minority small business ownership opportunities by boosting Small Business Development Centers [SBDCs], Women’s Business Centers [WBCs], SCORE, and other programs. It will also help reduce regulatory burdens on small firms.

“Investing in these core small business assistance programs will help create jobs in our state," noted Kerry, chairman of the Committee on Small Business and Entrepreneurship. "In Massachusetts alone, SBDCs served over 8,500 entrepreneurs last year, and our Center for Women and Enterprise has generated 15,000 jobs over the last 10 years. These programs will not only help our entrepreneurs succeed today, but they will build the next generation of small business owners, too.”

“By investing in assistance and development programs that create small business opportunities for women and minorities, we are paving the way for all Americans to improve their entrepreneurial skills,” said Sen. Snowe, ranking member of the committee. “This legislation is critical to providing the necessary tools to expand and promote small business ownership, and create the necessary jobs that all Americans rely on.”

Many of the provisions in the Kerry-Snowe bill unanimously passed the committee last Congress. Specifically, the bill:

* Reauthorizes and expands key small business counseling and assistance programs like SBDCs, WBCs, and SCORE;

* Improves the WBC grant program through streamlined paperwork and increased oversight;

* Promotes greater consultation between the National Women’s Business Council, the Interagency Committee on Women’s Business Enterprise, and WBCs;

* Creates a Native American small business development program, an Office of Native American Affairs within the Small Business Administration [SBA], and a Native American grant pilot program to foster increased employment and expansion of small businesses in Indian Country through business counseling services;

* Seeks to address the small business health insurance crisis by creating a competitive pilot grant program for SBDCs to provide counseling and resources to small businesses about health insurance options in their communities;

* Establishes a pilot program to assist small businesses in complying with federal and state laws and regulations; and

* Creates a Minority Entrepreneurship and Innovation Pilot Program to provide competitive grants to Historically Black Colleges and Universities [HBCUs], Hispanic-Serving Institutions [HSIs], Alaska Native and Native Hawaiian Serving Institutions, and Tribal Colleges to create a curricula focused on entrepreneurship.

Sources: Library of Congress, U.S. Department of Education, U.S. Senate Committee on Small Business and Entrepreneurship
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House Democrats Pass Significant Reforms for Entrepreneurial Development Initiatives

While many aspiring entrepreneurs have great ideas, it is not unusual that they face difficulty when it comes to turning their dreams of business ownership into successful ventures. This is often caused by a lack of adequate training.

Today, members of the U.S. House of Representatives acted to change this by approving a bipartisan package of new education and investment tools for small firms. Simply put, it's the most comprehensive restructuring of entrepreneurial development programs in nearly a decade.

The legislation that passed today targets growing sectors of the small business community, including veterans and women. It also offers assistance to help entrepreneurs cope with their most pressing challenges, such as regulatory burdens, rising health care, and energy costs. The result will be increased business growth and more successful ventures throughout the country.

"The face of business is changing and so are the challenges that entrepreneurs are being hit with," said Nydia M. Velázquez, chairwoman of the House Committee on Small Business. "If they are to succeed in the 21st century, then small businesses need access to the tools that will make that possible. This is exactly what we are providing them with today by passing this legislative package."

The House passed four bills that modernize entrepreneurial development programs across the U.S. Small Business Administration [SBA]:

* H.R. 2359, the SBA Entrepreneurial Development Programs Act of 2007, introduced by committee Vice-Chairman Joe Sestak [D-PA, pictured above], expands the role of Small Business Development Centers [SBDCs] and targets the most pressing economic challenges facing entrepreneurs today -- from the rising costs of health care and energy, to regulatory burdens and compliance costs. 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 Rep. Mary Fallin [R-OK], expands the Women's 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 Rep. 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], amends the Small Business Act to expand and improve the educational and technical assistance provided by SBDCs to Indian tribe members, Alaska Natives, and Native Hawaiian entrepreneurs.

"Around the country, small firms are taking the lead in creating jobs and developing their communities," said Chairwoman Velázquez. "Democrats took steps today to ensure that burgeoning entrepreneurs -- including returning Iraq and Afghanistan veterans and aspiring women business owners -- will be able to learn the skills they need to turn their dreams into reality."

Entrepreneurial development programs have been critical to the success of small-business owners nationwide. In fact, studies show that entrepreneurs who receive this assistance are twice as likely to succeed as those who have not.

These initiatives, and the service they provide, are critical to small business expansion. This technical assistance will enable entrepreneurs to better handle the unique challenges they face in today's economy and, thus, create jobs -- often, in areas that were previously underserved.

"This is a big step forward for aspiring entrepreneurs," added Chairwoman Velázquez. "This legislation ensures that emerging sectors of our small business community -- returning veterans from Iraq and Afghanistan, female entrepreneurs, and senior citizens -- have access to the resources they need to not only start a business, but to also expand it. It allows the drivers of this nation's economy to remain on top when it comes to development and job creation."

Sources: Congressional Budget Office, GovTrack.us, Library of Congress, U.S. House Committee on Small Business
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