President Obama Announces New Jobs Initiatives for Rural America; Investments Boost Small-Biz Access to Capital, Job Training and Health-Care Services

Today, at the White House Rural Economic Forum, President Obama [pictured above, during yesterday's town hall meeting in front of the Seed Savers Exchange, in Decorah, Iowa] will announce new jobs initiatives recommended by the White House Rural Council for growing the economy and creating jobs in rural America.

The Council’s recommendations focus on key areas of need in rural communities -- including helping rural small businesses access capital; expanding rural job-search and training services; and increasing rural access to health-care workers and technology.

“These are tough times for a lot of Americans -- including those who live in our rural communities,” said President Obama. “That’s why my Administration has put a special focus on helping rural families find jobs, grow their businesses, and regain a sense of economic security.”

“Creating jobs and economic opportunity in rural America is a priority for the Obama Administration, and the White House Rural Council has used an ‘all hands on deck’ approach to leverage resources across the federal government to achieve that goal,” said Agriculture Secretary Tom Vilsack. “By bringing new capital, job training and additional investments to our rural communities, we are working to ensure the people who live in these towns have a better, brighter future.”

“SBA is pleased to announce that we will be doubling the capital going to rural businesses through the Small Business Investment Company program, with no cost to taxpayers,” SBA Administrator Karen Mills said yesterday. “Small businesses of all kinds are thriving in rural areas, where they are creating jobs of the future and helping ensure the economic stability of the middle class.

“Half the people who work in America either own or work for a small business, and two out of three new private-sector jobs are created by small businesses. The Obama Administration and SBA have been committed to supporting rural businesses, which drive economic growth across the country and will continue to do so through the programs announced today.”

The Council’s recommendations, which leverage existing programs and funding, include committing $350 million in SBA funding to rural small businesses over the next five years; launching a series of conferences to connect private equity and venture-capital investors with rural start-ups; creating capital marketing teams to pitch federal funding opportunities to private investors interested in making rural investments; making job-search information available at 2,800 local USDA offices nationwide; making HHS loans available to help more than 1,300 Critical Access Hospitals recruit additional staff; and helping rural hospitals purchase software and hardware to implement health IT.

NEW INITIATIVES

Helping Rural Small Businesses Access Capital
* Doubling SBA Investment Funds for Rural Small Businesses Over the Next Five Years: As part of the Startup America Initiative, SBA recently announced the creation of a $1 billion Impact Investment Fund through its Small Business Investment Company [SBIC] Program. The Impact Fund will invest in distressed areas as well as in emerging sectors such as clean energy. SBA provides up to a 2:1 match to private capital raised by this fund, partnering with private investors to target “impact” investments. SBA and USDA will partner together to drive $350 million of investment capital through the Impact Fund and existing SBICs into rural small businesses over the next five years -- effectively doubling the current rate of investment.

* Connecting Rural Small Businesses with Private Investment Capital: To further achieve this goal, SBA and USDA will launch a series of Rural Private Equity and Venture Capital conferences nationwide to provide a platform for connecting private equity and venture capital investors with rural start-ups. USDA, SBA, Treasury, Interior and other relevant agencies will also create rural capital “marketing teams” that pitch federal funding opportunities to private investors. These “marketing teams” will leverage existing personnel with expertise about rural funding sources across all federal departments and agencies.

Expanding Rural Job Search and Training Services
* Expanding DOL Job Search and Training Services to 2,800 USDA Sites Nationwide: USDA and DOL will partner to increase access to existing job-search and training information for rural job-seekers by providing DOL employment information at 2,800 USDA field offices nationwide. This will significantly reduce the distance that rural Americans need to travel in order to access DOL job-search employment information.

Increasing Rural Access to Health Care Workers and Technology
* Increasing Physician Recruitment at Critical Access Hospitals: HHS will issue guidance to expand eligibility for the National Health Service Corps loan repayment program so that Critical Access Hospitals [those with 25 beds or fewer] can use these loans to recruit new physicians. This program will help more than 1,300 CAHs across the country recruit needed staff. The addition of one primary care physician in a rural community generates approximately $1.5 million in annual revenue and creates 23 jobs annually. The average CAH creates 107 jobs and generates $4.8 million in payroll annually.

* Expanding Health Information Technology [IT] in Rural America: USDA and HHS will sign an agreement linking rural hospitals and clinicians to existing capital loan programs that enable them to purchase software and hardware needed to implement health information technology [HIT]. Under current conditions, rural health care providers face challenges in harnessing the benefits of HIT due to limited access to capital and workforce challenges. Rural hospitals tend to have lower financial operating margins and limited capital to make the investments needed to purchase hardware, software and other equipment.

BACKSTORY: THE WHITE HOUSE RURAL COUNCIL

On June 9, President Obama signed an Executive Order establishing the first White House Rural Council to accelerate the ongoing work of promoting economic growth in rural America. The Council is focused on increasing rural access to capital; spurring agricultural innovation; expanding digital and physical infrastructure in rural areas; and creating economic opportunities through conservation and outdoor recreation.

On Aug. 12, the White House Rural Council released a new report, entitled Jobs and Economic Security for Rural America, which lays out the economic landscape rural Americans face today and highlights the Administration’s key accomplishments in rural communities. The Jobs and Economic Security for Rural America report focuses on five critical areas: creating jobs and promoting economic growth; improving access to quality health care and education; fostering innovation; expanding outdoor opportunities; and supporting veterans and military families. Link to full report here.

Today, President Obama and members of the White House Rural Council will host the White House Rural Economic Forum at Northeast Iowa Community College in Peosta, Iowa, as part of the President’s three-day Economic Bus Tour in the Midwest. The forum will bring together farmers, small-business owners, private-sector leaders, rural organizations and government officials to discuss ideas and initiatives to promote economic growth, accelerate hiring, and spur innovation in rural communities nationwide. The President will engage directly with a variety of rural leaders from across the nation to discuss the importance of growing small businesses and strengthening the middle class in rural America.

GoodBiz113's Take

These rural jobs initiatives are exactly what America's small businesses and communities need in order to boost our economy for the short- and long term. The Obama Administration and his Cabinet members are to be applauded for their innovative and cooperative approach to easing our country's economic woes.

Congress, take note: Collaboration is a productive and positive thing. Our nation would greatly benefit if you took the high road and followed the Obama Administration's synergistic example to prosper the greater good, rather than myopically focus on preserving and growing the fortunes of America's wealthy elite.

SOURCE: The White House [official photo by Pete Souza]
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President Obama Proclaims May 15-21 National Small Business Week 2011; Small Businesses Help Put Country Back on Track

President Barack Obama [pictured] hailed small-business owners as the backbone of the nation’s economy in his proclamation of the week of May 15-21 as National Small Business Week. The President declared those men and women to be the embodiment of America’s promise: "The idea that if you have a good idea and are willing to work hard enough, you can succeed in our country."

The President’s proclamation was issued before the U.S. Small Business Administration’s 48th annual observance of National Small Business Week in Washington, D.C. [May 18-20]. The event honors outstanding entrepreneurs from across the country, and features announcement of the 2011 National Small Business Person of the Year, who is selected from among 54 small-business award winners from 50 states, D.C., Guam, Puerto Rico and the Virgin Islands.

The President’s proclamation states: "Our country started as an idea, and it took hard-working, dedicated, and visionary patriots to make it a reality. A successful business starts much the same way -- ideas realized by entrepreneurs who dream of a better world and work until they see it through. From the family businesses that anchor Main Street to the high-tech startups that keep America on the cutting edge, small businesses are the backbone of our economy and the cornerstones of America’s promise.

"Throughout our economic recovery, persevering small businesses have helped put our country back on track. Countless new and saved jobs have come from small businesses who took advantage of tax relief, access to capital, and other tools in the Recovery Act, the Small Business Jobs Act, and other initiatives launched by my Administration to put Americans back to work.

"To ensure the stability of our recovery, we must continue to provide new opportunities for small-business owners and the next generation of entrepreneurs, who will help us out-innovate and out-build our global competitors to win the future.

"To support high-growth businesses, my Administration has launched Startup America, an initiative that will strengthen access to capital and mentoring, while reducing barriers to growth for small businesses. Entrepreneurship is essential to the strength and resilience of our economy and our way of life. Startup America will give entrepreneurs the tools they need to build their business into the next great American company.

"To encourage innovation, we released the Strategy for American Innovation, a report outlining my Administration’s plan to harness ingenuity. This means investing in the building blocks of innovation -- like education and infrastructure -- while promoting market-based growth through tax credits and effective intellectual property laws.

"The National Export Initiative is working to open markets to American businesses and support small exporters, who increase American competitiveness abroad and create good jobs here at home. We continue to create opportunity for businesses in underserved communities through new lending initiatives, expanded access to counseling, and technical assistance.

"We are also working to provide small businesses more opportunities to compete for federal contracts. This gives federal agencies access to some of our country’s best products and services while helping these businesses grow and employ community members.

"Through these and other initiatives, we are supporting the entrepreneurs and small businesses that provide work for half of American workers, and create two out of every three new jobs.

"Small businesses embody the promise of America: that if you have a good idea and are willing to work hard enough, you can succeed in our country. This week, we honor and celebrate the individuals whose inspiration and efforts keep America strong."

The full text of the President’s National Small Business Week proclamation can be found at:
http://1.usa.gov/NSBW2011.

National Small Business Week 2011 will be highlighted with two-and-a-half days of events in Washington, D.C., at the Mandarin Oriental Hotel, where more than 100 outstanding business owners from across the country will be recognized. In addition to the State Small Business Persons of the Year, men and women involved in disaster recovery, government contracting, small-business champions, as well as SBA partners in financial and entrepreneurial development, will be honored.

Under the National Small Business Week 2011 theme of "Empowering Entrepreneurs," featured speakers include Sen. Jack Reed [D-R.I.]; Sen. Mary Landrieu [D-La.]; Valerie B. Jarrett, senior advisor to President Barack Obama; Steve Case, co-founder of AOL and chair of Startup America Partnership; Cathy Hughes, founder and chairperson of Radio One, and chair of SBA’s Council on Underserved Communities; SBA Administrator Karen Mills and SBA Deputy Administrator Marie Johns.

A complete agenda for the event is posted at http://bit.ly/AgendaNSBW. Also featured are a series of executive panel forums on Strategies for High Growth, Exporting and Social Media. The public can "attend" Small Business Week events virtually, via the SBA’s streaming video on the Web at http://bit.ly/WebcastNSBW.

Small Business Week 2011 co-sponsors include: Association of Small Business Development Companies, AT&T, AVAYA, CareerBuilder, Dun & Bradstreet, Google, International Franchise Association, Intuit, Lockheed Martin, Microsoft, National Association of Development Companies, National Association of Government Guaranteed Lenders, National Association of Small Business Investment Companies, National Association for the Self-Employed, National Small Business Association, Nomadic Display, Northrop Grumman, Office Depot, Raytheon, Sam's Club, SCORE, The Neat Company, Verio, Visa, the Wall Street Journal, and Women Impacting Public Policy.

SOURCES: U.S. Small Business Administration, The White House
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President Obama: ‘Clean Energy Will Help Us Out-Compete and Out-Innovate the Rest of the World’

Yesterday, while taping his weekly address at Allison Transmission -- a hybrid-vehicle transmission company in Indianapolis, Ind. -- President Barack Obama explained how investments in a clean-energy economy are the only solution to high gas prices over the long term.

"The clean-energy jobs at this plant are the jobs of the future -- jobs that pay well right here in America," said Obama. "And in the years ahead, it’s clean-energy companies like this one that will keep our economy growing, create new jobs, and make sure America remains the most prosperous nation in the world.

"Allison Transmission is also part of the ultimate solution to high gas prices. We know there are no quick fixes to this problem. In the short term, we’re doing everything we can to boost safe and responsible oil production here at home -- in fact, last year, American oil production reached its highest level since 2003.

"But over the long term, the only way we can avoid being held hostage to the ups and downs of oil prices, is if we reduce our dependence on oil. That means investing in clean, alternative sources of energy -- like advanced biofuels and natural gas. And that means making cars and trucks and buses that use less oil.

"Other countries know this, and they’re going all in to invest in clean-energy technologies and clean-energy jobs. But I don’t want other countries to win the competition for these technologies and these jobs. I want America to win that competition. I want America to win the future..."

To read the full transcript of President Obama's weekly address, go to: http://1.usa.gov/Transcript050711.

To view the video of the President's weekly address plus a downloadable infographic on his short- and long-term approach to high gas prices, go to: http://1.usa.gov/Video050711.

To learn what the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy [EERE] is doing to invest in clean-energy technologies that strengthen the economy, protect the environment, and reduce dependence on foreign oil, visit: http://www.eere.energy.gov/.

GoodBiz113's Take
We're all about win-win-win-win. President Obama's pragmatic and sustainable clean-energy policy will yield wins for small businesses, consumers, the environment, and the U.S. economy.

His leadership is precisely what America needs to truly win the future. If his actions happen to inspire other countries to follow our lead, all the better.

SOURCE: U.S. Department of Energy, The White House [official photo by Pete Souza]
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Intuit to Support Entrepreneurs Via $37 Million Commitment to Startup America Partnership

GoodBiz113 ad partner Intuit Inc. [Nasdaq: INTU] will commit to investing $37 million in products and services to promote high-growth entrepreneurship across the country, in partnership with President Obama's Startup America initiative.

Intuit's commitments include special offers and pricing over a three-year period for the company's flagship products and services -- including QuickBooks Online, Intuit Payroll Services, QuickBooks Merchant Services and Intuit Websites -- which will become available to Startup America Partnership member companies.

Intuit will also look to add other offerings, and tap into the expertise of its ecosystem of accounting professionals and banks, credit unions and other financial institutions.

The partnership announcement from Intuit and a number of other Silicon Valley technology firms comes in conjunction with a series of events being held today at Facebook's headquarters in Palo Alto, Cal., to support entrepreneurs and small business.

Today's events include:
* A Shared Responsibility and Shared Prosperity Town Hall at 1:45 p.m. Pacific time, at which Obama will speak;
* A Startup America panel discussion immediately following the Town Hall at approximately 4:00 p.m.; and
* A Women in Technology roundtable, moderated by White House Senior Advisor Valerie Jarrett.

Organizers expect approximately 1,000 entrepreneurs and Facebook employees to attend the events, which can be seen on Facebook's livestreaming platform, Facebook Live at http://apps.facebook.com/facebooklive.

"Entrepreneurs and small businesses play a major role in the economic recovery," said Kiran Patel [pictured], executive vice president and general manager at Intuit. "We are pleased that supporting and celebrating entrepreneurs is a major priority for President Obama's economic strategy, and are happy to contribute to this partnership. With millions of small-business owners trusting us to help run their businesses, it's our responsibility to play an active role in this collective effort to spark new job growth."

Small businesses have had a significant effect on the economy for more than a quarter-century.

"Young businesses have created 40 million jobs during the past 25 years, and the need to create a strong ecosystem for startups in our country is more paramount than ever," said Scott Case, CEO of the Startup America Partnership. "These new partnerships will go a long way toward ensuring that start-ups have every chance to succeed."

The commitments from Intuit and other firms will help companies at varying levels of the new business life cycle. This ranges from those just getting started to those in an initial growth phase, plus others with significant staff and revenue growth. In the coming weeks, the Startup America Partnership will introduce a new, free membership program that will allow young companies to apply for resources to help them grow.

Further information about the Startup America Partnership and a full list of partner commitments is available at the organization's new website at www.StartupAmericaPartnership.org. The partnership can also be found at www.twitter.com/startupamerica and www.facebook.com/startupamerica.

About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers; and accounting professionals. Its flagship products and services -- including QuickBooks®, Quicken® and TurboTax® -- simplify small-business management and payroll processing, personal finance, and tax preparation and filing.

ProSeries® and Lacerte® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

Quick Links
* Intuit Small Business Blog: http://intuit.com/blog
* Intuit Small Business on Twitter: http://Twitter.com/intuit
* Intuit Small Business on Facebook: http://Facebook.com/Intuit

SOURCES: Intuit Inc., Startup America Partnership, The White House
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Entrepreneur Steve Case Named to President’s Council on Jobs and Competitiveness

This just in: Steve Case [pictured], co-founder of AOL, CEO of Revolution LLC, and chairman of the Case Foundation, has been appointed to the President's Council on Jobs and Competitiveness [PCJC], launched last month by President Barack Obama.

"I am gratified by the President's decision to appoint me to the President’s Council on Jobs and Competitiveness," said Case. "As chair of the Startup America Partnership, and as someone who has been an entrepreneur myself and dedicated my career to fostering and investing in entrepreneurship, I look forward to using this opportunity to serve as a voice for anyone who has launched, funded, or been a part of starting a new business. These startups and speedups are the source of extraordinary job growth, vitality, and innovation in our economy, and deserve our support.

"I look forward to working with the Council, and ensuring that the efforts of the Startup America Partnership to support high-growth entrepreneurship are closely aligned with the Administration’s overall jobs and competitiveness strategy."

About the President's Council on Jobs and Competitiveness
PCJC was initiated "to strengthen the Nation's economy, ensure the competitiveness of the United States, and to create jobs, opportunity, and prosperity for the American people by ensuring the availability of nonpartisan advice to the President from participants in and experts on the economy."

Click here to read the full Executive Order that introduced PCJC.

About the Case Foundation
The Case Foundation, created by Steve and Jean Case in 1997, invests in people and ideas that can change the world, with the ultimate goal of making giving back a part of everyday life. The Foundation creates and supports initiatives that leverage new technologies and entrepreneurial approaches to drive innovation in the social sector, and encourage individuals to get involved with the communities and causes they care about.

For more information, visit www.CaseFoundation.org, and follow them at www.twitter.com/casefoundation and www.facebook.com/casefoundation.

About the Startup America Partnership
The Startup America Partnership is an alliance of the country’s most innovative entrepreneurs, corporations, universities, foundations and other private-sector leaders working to dramatically increase the prevalence and success of high-growth enterprises in the U.S.

The Partnership was created as an independent, private-sector response to President Obama’s Startup America initiative, a White House campaign to celebrate, inspire and accelerate high-growth entrepreneurship throughout the nation.

AOL co-founder Steve Case chairs the Partnership, and the Kauffman and Case foundations are founding partners, providing initial funding and strategic guidance.

For more information on the Partnership, visit www.startupamericapartnership.org, and follow them at www.twitter.com/startupamerica and www.facebook.com/startupamerica.

SOURCES: Startup America Partnership, The White House
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Startup America Partnership Names Lifelong Entrepreneur Scott Case CEO

Today, the Startup America Partnership -- the private-sector alliance launched at the White House on Jan. 31 to celebrate and accelerate entrepreneurship -- announced the appointment of seasoned entrepreneur Timothy "Scott" Case [pictured] as its chief executive officer.

"Whether starting and growing entrepreneurial companies like Priceline, or scaling critically important public-private partnerships like Malaria No More, Scott has demonstrated a unique ability to bring innovative ideas to life," said Steve Case, chairman of the Startup America Partnership. "I can think of no one better suited to lead the Startup America Partnership.”

Scott is currently CEO of Malaria No More, a public-private partnership he helped start in 2006 to end malaria deaths in Africa by 2015, and will remain with the organization as a vice chair. After transitioning his duties, he will start fulltime as CEO of the Startup America Partnership on March 14.

"I’ve been an entrepreneur my entire life, and have helped build hyper-growth companies that transformed the lives of employees, customers and clients," said Scott Case. "I’ve also experienced the challenges entrepreneurs face firsthand as they seek to build great companies. I’m delighted to lead the Startup America Partnership, as I believe driving American entrepreneurship is critical to creating jobs and sustaining our nation's global leadership."

Prior to Malaria No More, Scott was involved in several entrepreneurial startups -- including Priceline, the "name your own price" company that was one of only a handful of startups in U.S. history to reach a billion dollars in annual sales in fewer than than 24 months. As co-founder and chief technology officer, he was responsible for building the technology that enabled Priceline's hyper-growth.

Previously, Scott helped build a portfolio of intellectual property at the Walker Digital Invention Laboratory, and is a named inventor on dozens of U.S. patents. Scott also co-founded Precision Training Software, a software company that developed the world's first PC-based simulated flight instructor and photo-realistic flight simulator.

Scott also serves as the chairman of Network for Good, a national nonprofit that has distributed more than $475 million to 60,000 nonprofits, and provides online fundraising and communications services to more than 5,000 nonprofit organizations.

About the Startup America Partnership
The Startup America Partnership is an alliance of the country’s most innovative entrepreneurs, corporations, universities, foundations and other private-sector leaders working to dramatically increase the prevalence and success of high-growth enterprises in the U.S.

The Partnership was created as an independent, private-sector response to President Obama’s Startup America initiative, a White House campaign to celebrate, inspire and accelerate high-growth entrepreneurship throughout the nation.

AOL co-founder Steve Case chairs the Partnership, and the Kauffman and Case foundations are founding partners, providing initial funding and strategic guidance.

For more information about the Partnership, visit www.startupamericapartnership.org, and follow at www.twitter.com/startupamerica and www.facebook.com/startupamerica.

SOURCE: Startup America Partnership
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White House Announces Startup America Partnership to Foster Innovative, High-Growth Firms Throughout U.S.

Today, as part of President Obama’s national strategy to stimulate economic growth and the creation of quality jobs, the White House announced the launch of the Startup America Partnership.

Chaired by Steve Case -- co-founder of AOL, CEO of Revolution LLC and chairman of the Case Foundation -- the Partnership will receive launch funding from the Ewing Marion Kauffman Foundation and the Case Foundation, and act as an independent private-sector alliance intended to dramatically increase the development, prevalence and success of innovative, high-growth U.S. firms. Carl Schramm [pictured], CEO of the Kauffman Foundation, will serve as a founding board member of the effort.

The Startup America Partnership will work closely with the White House to advance the goals of its Startup America initiative. The Partnership will bring together top entrepreneurs, startup firm funders, CEOs, university presidents, foundations and other leaders to help entrepreneurial companies start or grow. Partners -- including corporations, foundations, startup funders, CEOs and others -- will contribute funds to existing proven models, or develop new programs and efforts to help entrepreneurs.

"America's story has been forged in large part by entrepreneurs who have, against great odds, created innovative products and services that have changed the world -- and created millions of jobs," said Case. "Our nation once again looks to these creative risk-takers to unleash the next wave of American innovation, and I am pleased that President Obama has made supporting and celebrating entrepreneurs a major priority of his economic strategy. I am honored to chair the Startup America Partnership, and look forward to working with the White House to champion the creation of new startups, and help accelerate the growth of speedups."

"We are pleased to help lead this partnership," said Schramm. "At Kauffman, it is our mission to develop and fund programs to support entrepreneurs, and to help educate policymakers about the role that entrepreneurship and innovation play in our society. This partnership will bring together partners from across the private, public and nonprofit sectors, working together toward a common goal: supporting the entrepreneurs who are the lifeblood of our economy."

To Date, More Than a Dozen Firms and Organizations Have Joined the Startup America Partnership. They Include the Following Commitments:
* Increased corporate investment and support for startups from companies such as Intel, HP, IBM, Facebook and others, including:

>> Intel Capital will commit $200M of new investment in U.S. companies. Senior Intel leadership will also serve the Startup America Partnership and share best practices from years of successful programs designed to support Intel portfolio companies.

>> IBM will invest $150 million in 2011 to fund programs that promote entrepreneurs and new business opportunities in the U.S.

>> HP is investing more than $4 million in 2011 in the HP Learning Initiative for Entrepreneurs [HP LIFE], a global program launched in 2007 that uses educational and technology outreach aimed at helping entrepreneurs and small-business owners create and grow commercial opportunities.

>> As part of Facebook's ongoing commitment to encourage entrepreneurs, the company will launch Startup Days, a new series of 12 to 15 events around the country designed to provide entrepreneurs with access to expertise, resources and engineers to help accelerate their businesses.

* To foster entrepreneurship through higher education, as part of its overall $50 million commitment to entrepreneurship, The Blackstone Charitable Foundation has announced a $5 million expansion of the Blackstone LaunchPad program piloted at two Detroit colleges. Based on a model created by the University of Miami, LaunchPad will be replicated over the next five years in five other distressed regions around the country.

* The Network for Teaching Entrepreneurship [NFTE], a nonprofit that provides entrepreneurship education for at-risk high-school students from low-income communities, is launching new programs supporting young entrepreneurs and their teachers. Ernst & Young LLP will honor NFTE youth entrepreneurs at regional Ernst & Young Entrepreneur Of The Year Award® galas across the country, bringing important attention to the next generation of young entrepreneurs. The Pearson Foundation is working with NFTE to build its Digital Teacher Network, a free online community for teacher collaboration and training that will be used not only by NFTE’s 5,000 certified teachers, but also by any educator interested in entrepreneurship. Google is sponsoring two new efforts in NFTE’s Bay Area programs: The Flat Classroom Exchange will allow local educators to team-teach the NFTE program in real time and leverage each teacher’s individual expertise, while the Makers Class project will integrate NFTE’s curriculum with invention and engineering lessons. New Markets Education Partners is providing NFTE with seed capital to launch in 2011 an interactive, online business planning course and social network connecting mentors, teachers, and students.

The Startup America Partnership Will Continue to Marshal Private-Sector Resources to Spur Entrepreneurship in the U.S., With a Focus on Three Key Areas:
* Acceleration and Scale: Replicate successful community-based entrepreneurship accelerator programs; encourage increase in experienced mentors to support startups; and encourage partnerships with large companies to serve as customers or funders of current firms.

* Education: Identify resources to help expand high-impact entrepreneurship education throughout the country.

* Commercialization: Increase the number of colleges and universities committed to commercialization outcomes, through efforts that include clearing the path to market for primary research; supporting the extension of successful accelerator programs; and spurring regional ecosystem development, faculty engagement, and streamlined technology licensing.

For more information about the Startup America Partnership and to see a full list of partner commitments, visit www.startupamericapartnership.org, and follow the Partnership on www.twitter.com/startupamerica and www.facebook.com/startupamerica.

About the Kauffman Foundation
The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that works to harness the power of entrepreneurship and innovation to grow economies and improve human welfare.

Through its research and other initiatives, the Kauffman Foundation aims to open young people's eyes to the possibility of entrepreneurship, promote entrepreneurship education, raise awareness of entrepreneurship-friendly policies, and find alternative pathways for the commercialization of new knowledge and technologies.

For more information, visit www.kauffman.org, follow the Foundation on www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.

About the Case Foundation
The Case Foundation, created by Steve and Jean Case in 1997, invests in people and ideas that can change the world -- with the ultimate goal of making giving back a part of everyday life.

The Foundation creates and supports initiatives that that leverage new technologies and entrepreneurial approaches to drive innovation in the social sector, and encourage individuals to get involved with the communities and causes they care about.

For more information, visit www.CaseFoundation.org, and follow them at www.twitter.com/casefoundation and Facebook.com/casefoundation.

SOURCES: Case Foundation, Kauffman Foundation, Startup America Partnership
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Verbatim: 'We Can Out-Compete Any Other Nation on Earth'

Periodically, GoodBiz113 puts its ear to the rail to listen to what politicos, pundits and others have recently said about small businesses and our integral role in growing the U.S. economy. Today -- just one day before President Obama's annual State of the Union address -- we share some select events and perspectives with you, our loyal readers.

* * *

"As we continue to get this economy back on track, I am encouraged by this Administration’s commitment to reduce the regulatory burdens businesses in America face on a daily basis. Every day, we hear from small businesses that are bogged down with unnecessary paperwork and outdated regulations.

"As chair of the Senate Small Business Committee, I am committed to reducing burdens America’s entrepreneurs face -- beginning with the full repeal of the Form 1099 reporting requirement set to take effect in 2012. I will continue working with the Administration to pinpoint problem areas in the federal regulatory process that hinder job creation and economic growth, and I applaud their efforts to make tackling this problem a priority." -- U.S. Sen. Mary Landrieu [D-La.], applauding the efforts of the Obama Administration to reduce the regulatory burdens facing businesses in America -- particularly, small businesses [U.S. Senate Committee on Small Business and Entrepreneurship, Jan. 18]

* * *

"Today's announcement reflects this Administration's commitment to promoting the development of advanced biofuels. Strong biofuels projects like Diamond Green Diesel can help to diversify our transportation fuel supply, while creating jobs and strengthening our economy." -- U.S. Energy Secretary Steven Chu, announcing the offer of a conditional commitment to Diamond Green Diesel LLC -- the proposed joint venture between Valero Energy Corporation and Darling International Inc. -- for a $241 million loan guarantee.

This loan guarantee will support the construction of a 137,000,000-gallon-per-year renewable-diesel facility in Norco, La. -- located about 20 miles west of New Orleans. Valero Energy Corporation plans to direct the design, construction and operation of the project, and market all of its output, while Darling International Inc. will supply feedstock to the project.

The company estimates that the project will create 700 jobs during peak construction, and over 60 jobs during operation. The project will reduce greenhouse gases by more than 80 percent over conventional petroleum-based diesel, and is expected to nearly triple the amount of renewable diesel produced in the U.S.

In addition, the facility will fulfill almost 14 percent of a national mandate to boost production for biomass-based diesel. Approximately 95 percent of the project components are expected to be produced in the United States. [U.S. Department of Energy, Jan. 20]

* * *

"...In order to meet President Obama’s goals of a 28% reduction in federal greenhouse gas [GHG] pollution by 2020 and a net-zero-energy building requirement by 2030, GSA began sustainable construction and retrofit projects around the country, employing 500 businesses and creating jobs in all 50 states.

"Moving forward, all GSA construction projects will achieve at least a LEED Gold certification from the U.S. Green Building Council for GSA’s use of cutting-edge and sustainable design and technology..." -- General Services Administrator Martha N. Johnson, reporting on GSA's 2010 achievements [The White House Blog, Jan. 20]

* * *

"...Leading the world in innovation. Opening new markets to American products. That’s how we’ll create jobs today. That’s how we’ll make America more competitive tomorrow. And that’s how we’ll win the future...

"We’re living in a new and challenging time, in which technology has made competition easier and fiercer than ever before. Countries around the world are upping their game and giving their workers and companies every advantage possible.

"But that shouldn’t discourage us. Because I know we can win that competition. I know we can out-compete any other nation on Earth. We just have to make sure we’re doing everything we can to unlock the productivity of American workers, unleash the ingenuity of American businesses, and harness the dynamism of America’s economy." -- President Barack Obama [pictured above], during his weekly address [The White House, Jan. 22]

* * *

Be sure to tune in to President Obama's State of the Union address tomorrow, Jan. 25, at 9 p.m. EST. All of the major TV networks will broadcast it, as will a handful of cable channels.

You can also view live streaming video of the event, and interact with White House officials during the hours and days following. Engage yourself: http://bit.ly/EnhancedSOTU.

SOURCES: U.S. Department of Energy, U.S. General Services Administration, U.S. Senate Committee on Small Business and Entrepreneurship, The White House [photo]
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In Just Three Months, 2010 Jobs Act Supported More Than $12 Billion in SBA Lending to Small Businesses

Today, SBA Administrator Karen Mills [pictured] announced that, as of Dec. 31, the agency had approved more than $10.3 billion in loan guarantees, which supported more than $12 billion in lending to small businesses since President Obama signed the Small Business Jobs Act of 2010 on Sept. 27. The Jobs Act included an extension of reduced fees and higher-guarantee loan enhancements in the agency’s two largest loan programs.

In a just-released statement, Mills noted that SBA moved quickly to get these critical loan dollars in the hands of small businesses and, just three months later, all of the $505 million in subsidy provided in the Jobs Act to support the loan enhancements has been utilized by the agency’s national network of lending partners. In light of that, the SBA has activated the SBA Loan Queue to ensure that any remaining funds that result from loan cancellations in the coming weeks are redirected to new Jobs Act loans.

Following is the full statement from Mills:

"In just three months since the Small Business Jobs Act was signed into law, SBA supported more than $12 billion in lending to small businesses and entrepreneurs across the country. SBA is on the front lines with small-business owners and our lending partners every single day. I’m very proud that, as a result of those close relationships and partnerships, we were able to quickly put this significant amount of capital into the hands of our nation’s largest job-creation engine.

"The loan enhancements of higher guarantees and reduced fees first implemented as part of the Recovery Act have been a vital resource for tens of thousands of small businesses at a critical time when lending markets had dried up. Beginning in February 2009, these loan enhancements engineered a significant turnaround in SBA lending -- including driving record-high levels of SBA lending in recent weeks. The end result is that the agency helped put more than $42 billion in the hands of small businesses through the Recovery Act and Jobs Act combined.

"These enhancements have been a key piece of the Obama Administration’s efforts to help small businesses drive our nation’s economic recovery. As we transition back to our standard guarantees and fee rates, SBA loan programs will continue to play an important role -- as they have for decades -- in helping entrepreneurs and small-business owners start or grow their businesses and create jobs.

"The Small Business Jobs Act is the most consequential piece of legislation affecting small businesses enacted in more than a decade. While we are proud of how quickly SBA could provide $12 billion in capital to small businesses, we remain focused on implementing other key provisions of this law that will continue to expand access to capital; help small businesses compete for federal contracting dollars; strengthen small-business exports; and provide other critical support."

During the quarter, SBA approved nearly 22,000 small-business loans for $10.47 billion, supporting a total of $12.16 billion in lending. The amounts are greater than the volume for Jobs Act loans over the same period because they exclude some loans that were not eligible for one or more Jobs Act enhancements.

Background on SBA Loan Enhancements
SBA expands access to capital for small businesses by providing government guarantees on loans made by commercial lenders. The Small Business Jobs Act extended higher guarantees and reduced fees on its two most popular loan programs -- enhancements first enacted in the American Recovery and Reinvestment Act of 2009.

From Feb. 17, 2009 -- when the Recovery Act was signed -- through Sept. 30, 2010, the SBA approved more than $22.5 billion in loan guarantees, which supported more than $30 billion in lending to small businesses, due to the loan enhancements put in place by the Act. The enhancements were funded with approximately $680 million in subsidy funds provided during the period.

Following the extension of the enhancements in the Jobs Act, SBA approved an additional $10.3 billion in loan guarantees -- supporting more than $12 billion in lending to small businesses from Sept. 27 through Dec. 31, funded by just $505 million in subsidy funds.

The three-month extension of the loan enhancements under the Jobs Act financed the highest volume in a fiscal year’s first quarter than at any time in the agency’s history. During the week of Dec. 18-24 alone, SBA supported a record-high $1.95 billion in small-business loans -- the highest dollar volume since the agency began tracking its weekly loan volumes.

SBA Loan Queue
Authority to continue the loan enhancements was extended through March 4 by Congress last month. While there is no additional appropriation of subsidy funds to support the loan enhancements, the extended authority does allow the agency to redirect -- through the SBA Loan Queue -- any dollars that come available from loan cancellations in the coming weeks to new loans with the enhancements.

It is typical that some previously approved loans are later cancelled by the borrower or lender and never disbursed for a variety of reasons. The queue takes this into account and will allow eligible small businesses, in consultation with their lenders, to choose to be placed in the queue for possible approval for a Jobs Act loan if funding becomes available.

Small-business owners and lenders will have transparent access to the queue via http://www.sba.gov/ and will be able to remove themselves from the queue at any time to be considered for a non-Jobs Act SBA-backed loan with all applicable fees and, for 7[a] loans, standard guarantee levels.

Small Business Jobs Act of 2010
The Small Business Jobs Act included an array of provisions aimed at helping small businesses gain access to capital, compete for federal contracting opportunities, expand exporting opportunities, and obtain other assistance to help them grow and create jobs. More information on the Jobs Act can be found at www.sba.gov/jobsact.

SOURCE: U.S. Small Business Administration
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5,000-Plus Small Business Jobs Act Loans Approved in First Month

This morning, Karen Mills [pictured], who heads the U.S. Small Business Administration, announced some of the impressive effects that the Small Business Jobs Act of 2010 has yielded thus far.

"Just one month after the President signed the Small Business Jobs Act, SBA has supported nearly $3 billion in loans to more than 5,000 small businesses across the country," Mills noted. "That’s more than 5,000 small-business owners who’ve felt firsthand, within one month, the impact this new law is having on our economy."

Two examples cited by Administrator Mills:

* Peabody Engineering, a tank and fiberglass manufacturer in Southern California, that is using a Jobs Act loan to hire 10 more workers; and

* Caudill Web Inc., based in Washington, D.C., who will use their Jobs Act loan to hire more programmers to meet increased demand.

"So, how did we do it?" Mills asked. "With the Recovery Act, we learned that raising the guarantee and waiving the fees in SBA’s top two loan programs was a formula for success. With the Recovery Act funding and extensions of funding from Congress, we turned just $680 million in taxpayer dollars into nearly $30 billion in lending support through our lending partners.

"That’s a big bang for the taxpayer buck. The Jobs Act builds on that success by extending those same loan enhancements.

"This is a critical investment in America’s biggest job creators and in the strongest engine of economic recovery: entrepreneurs and small-business owners. By unlocking loans for these small businesses, we are providing them with the tools they need to grow their business and create new jobs in their local communities.

"In all, we estimate the $505 million provided in the Jobs Act for these loan enhancements will support about $14 billion in small-business loans. That’s a $14 billion boost for America’s small businesses and just one of the reasons that the passage of this new law was a top priority for President Obama.

"The Jobs Act also includes $12 billion in tax credits targeted specifically to small businesses, and a $30 billion lending fund that will help small, community banks increase their lending to local small-business owners and entrepreneurs.

"As the President has said, government can’t guarantee the success of a small business, but it can knock down some of the barriers that stand in the way and help create the conditions where small businesses can grow and hire. The Small Business Jobs Act is a critical tool to help us do just that, and we are already seeing its impact with the loans SBA approves every day."

To learn more facts about how small businesses are benefiting from the Small Business Jobs Act, visit http://www.sba.gov/jobsact.

* * *

GoodBiz113's Take: Regardless of the relentlessly negative and downright deceitful rhetoric of those who want to see President Barack Obama and his Administration fail, statistics prove that his policies are gradually boosting small-business interests and getting people back to work.

To folks on both sides of the political aisle, and anywhere in-between, we advise: Be patient. Remember that President Obama has only been in the White House for 21 months -- and he had one helluva mess to clean up when he arrived there.

Signing the Small Business Jobs Act of 2010 was just one of countless positive steps that this Administration has taken thus far in order to get all of America moving forward again. If naysaying members of Congress would simply check their politics, egos and inertia at the door, and actually work with their do-something colleagues for the greater win-win-win good, then our nation can continue on the productive course that President Obama and his truly dedicated and apt Administration and Cabinet members have only just begun to chart.

SOURCES: U.S. Small Business Administration, The White House
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Businesses That Plan Ahead May Have a Better Chance of Accessing Billions in New Small-Business Loans, Study Says

A recently reissued study reports that business plans can make the difference between getting and not getting a loan, or securing investment capital.

The small-business legislation that President Obama recently signed into law was good news for small businesses looking to access a newly established $30 billion loan fund.

It’s even better news for small businesses who took the time to complete a business plan, according to the results of a recently reissued June 2010 study conducted by researchers affiliated with the University of Oregon Department of Economics.

The paper found that companies completing business plans were twice as likely to successfully grow their business, get investment capital, or land a loan. Researchers examined data on nearly 3,000 users of business plan software.

"The bottom line is that completing a plan correlated with increased success in every one of the business objectives that came up in the study," said Tim Berry [pictured], founder of GoodBiz113 ad partner Palo Alto Software, and author of the business planning software Business Plan Pro.

The news comes at a time when the Small Business Administration estimates more than a half-million businesses fail annually.

Despite the tough climate businesses are facing, there are loans available for small-business owners -- many of them at record-low interest rates. But with less capital available, more companies are fighting for a smaller piece of the pie, and smart businesses are finding that it pays to be prepared with a plan. With talk of a double-dip recession and other uncertainty clouding the air, business planning has become less a one-time event and more of an ongoing process, business experts say.

"It is important to remember that business plans are living documents," Berry noted. "Those who take the time to complete a plan, follow it, and update it often are most likely to be successful."

Patricia Schaefer, of BusinessKnowHow.com, cites lack of planning as one of her top seven reasons why small businesses fail. And in a challenging business environment, completing a plan properly is just as important as having a plan in the first place.

"[A plan] must be realistic and based on accurate, current information and educated projections for the future," she writes. "Many small businesses fail because of fundamental shortcomings in their business planning."

The Oregon study looked specifically at planning completed, using business plan software. Researchers Eason Ding and Tim Hursey -- who prepared and presented the paper as part of the requirements for their honors degrees, under the supervision of professor Joe Stone -- looked at a questionnaire answered by 2,877 respondents. Of those people, 995 had completed a plan, and:

* 297 of them [36 percent] secured a loan
* 280 of them [36 percent] secured investment capital
* 499 of them [64 percent] had grown their business.

The study found that, among firms of varying ages, the amount of business planning was related to success. Ding and Hursey also found that Web-based firms had "a significant correlation of success with business planning."

The study did not examine differing rates of success between individual firms. Across the board, businesses completing plans scored higher -- suggesting that, with the right planning, craft beer brewers or tattoo parlor owners could achieve success as readily as lawyers or medical professionals.

Results suggest that business planning "is highly correlated with subsequent successes for a variety of firms," the paper states.

About Palo Alto Software
Palo Alto Software Inc. helps people succeed in business. It develops, publishes and markets software products for small businesses and entrepreneurs.

Its suite of products includes Business Plan Pro, the best-selling business-planning software in the U.S.; Marketing Plan Pro powered by Duct Tape Marketing; Email Center Pro; and their newest product, Start, Run & Grow Your Business. Email Center Pro is Palo Alto Software’s first SaaS product, an online e-mail management tool for small businesses.

Palo Alto Software also runs a website network, which includes http://www.bplans.com/ -- one of the highest-trafficked business planning content sites in the world. Its website network receives approximately 1 million unique visitors per month and offers users unique, valuable content and free business planning tools.

Tim Berry, the founder of Palo Alto Software and a co-founder of Borland International, is a recognized expert in business planning. His popular Planning, Startups, Stories blog is featured on AllTop Small Business. He also writes the Up and Running blog for Entrepreneur.com and contributes regularly to Business in General, All Business, the Huffington Post, and other publications.

For more information, visit http://www.paloalto.com/ or call [800] 229-7526.

SOURCE: Palo Alto Software Inc.
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President Obama on Infrastructure Investment: "This is Work That Needs to Be Done. There Are Workers Who Are Ready to Do It."

During tough economic times, one of the toughest jobs to hold is as a construction worker. In almost any city or town in America, you're likely to see buildings, projects, or roads left half-done after investments made by private enterprise or state and local governments -- based on expectations of a brighter economic future -- dried up.

Meanwhile, there is a near-universal consensus that America's infrastructure is both falling apart and lagging behind as our competitors move forward on the next generation of transportation.

That's part of why a new report from the Council of Economic Advisers [CEA] and the Treasury Department [pdf] encourages a bold, new plan to invest -- finding that infrastructure projects have a high bang for the buck because construction costs are low, due to underutilized resources, and that these investments would create jobs in sectors of the economy suffering from some of the highest levels of unemployment. The Recovery Act already created hundreds of thousands of jobs this way, but there is more than enough left to do.

After meeting with some of his Cabinet secretaries -- along with a bipartisan group of former secretaries of Transportation, mayors and governors who have come together in support of infrastructure investment -- President Obama [pictured with the group outside the White House] spoke both on the depth of the problem and value of the solution.

On the Problem...
"For years, we have deferred tough decisions, and today, our aging system of highways and byways, air routes and rail lines hinder our economic growth. Today, the average American household is forced to spend more on transportation each year than food.

"Our roads, clogged with traffic, cost us $80 billion a year in lost productivity and wasted fuel. Our airports, choked with passengers, cost nearly $10 billion a year in productivity losses from flight delays. And in some cases, our crumbling infrastructure costs American lives. It should not take another collapsing bridge or failing levee to shock us into action.

"So we’re already paying for our failure to act. And what’s more, the longer our infrastructure erodes, the deeper our competitive edge erodes.

"Other nations understand this. They are going all-in. Today, as a percentage of GDP, we invest less than half of what Russia does in their infrastructure, less than one-third of what Western Europe does.

"Right now, China’s building hundreds of thousands of miles of new roads. Over the next 10 years, it plans to build dozens of new airports. Over the next 20, it could build as many as 170 new mass transit systems.

"Everywhere else, they’re thinking big. They’re creating jobs today, but they’re also playing to win tomorrow. So the bottom line is, our shortsightedness has come due. We can no longer afford to sit still."

On the Solution...
"By investing in these projects, we’ve already created hundreds of thousands of jobs. But the fact remains that nearly one in five construction workers is still unemployed and needs a job. And that makes absolutely no sense at a time when there is so much of America that needs rebuilding.

"So that’s why, last month, I announced a new plan for upgrading America’s roads, rails and runways for the long-term.

"Over the next six years, we will rebuild 150,000 miles of our roads -- enough to circle the world six times. We will lay and maintain 4,000 miles of our railways -- enough to stretch from coast to coast. And we will restore 150 miles of runways and advance a next-generation air-traffic control system that reduces delays for the American people.

"This plan will be fully paid for. It will not add to our deficit over time. And we are going to work with Congress to see to that. It will establish an infrastructure bank to leverage federal dollars and focus on the smartest investments.

"We want to cut waste and bureaucracy by consolidating and collapsing more than 100 different, often duplicative programs. And it will change the way Washington works by reforming the federal government’s patchwork approach of funding and maintaining our infrastructure.

"We’ve got to focus less on wasteful earmarks, outdated formulas. We’ve got to focus more on competition and innovation; less on shortsighted political priorities, and more on our national economic priorities.

"So investing in our infrastructure is something that members of both political parties have always supported. It’s something that groups ranging from the Chamber of Commerce to the AFL-CIO support today. And by making these investments across the country, we won’t just make our economy run better over the long haul -- we will create good, middle-class jobs right now."

* * *

GoodBiz113's Take: Between 1935 and 1943, President Franklin Delano Roosevelt's Works Progress Administration [aka Work Projects Administration, or WPA] put nearly eight million people to work on much-needed public works projects that reshaped America's infrastructure -- all while benefiting individuals, families, small businesses, corporations and communities from coast to coast.

In their joint report released today, Department of Treasury and CEA officials present a compelling case for taking action ASAP to invest financial resources in another historic infrastructure-building initiative that will serve short-term employment needs, as well as our nation's long-term transportation and economic-development needs.

Let's just hope that, 70-plus years later, the petty partisanship that nearly blocked FDR's far-reaching efforts doesn't rear its ugly head yet again by trying to obstruct common-sense, future-forward progress.

SOURCES: Council of Economic Advisers, Treasury Department, The White House [photo by Lawrence Jackson], Wikipedia
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SBA Loan Queue Cleared One Week After President Obama Signs Jobs Act

All of the loan applications placed in the U.S. Small Business Administration’s loan queue by small-business borrowers have received final approval, SBA Administrator Karen Mills announced today. The approvals, which were completed Monday, amount to 1,939 loans for nearly $970 million.

Final approval follows President Obama’s signing of the Small Business Jobs Act of 2010 on Sept. 27, which provided funding for the extension of increased guarantees and reduced fees in SBA’s two largest loan programs. Small-business owners have been waiting for additional funding and putting applications in the queue since the end of May, when authority for higher loan guarantees expired and, soon after, previous Recovery loan funding was exhausted.

Of the approvals in the queue, SBA approved more than $586 million through 1,273 new loans with funds provided by the Small Business Jobs Act, and 666 loans for more than $383 million with earlier funding that became available after cancellations of applications that had been approved previously under Recovery Act loan terms -- most, because they had been withdrawn by the applicants.

"Enhancements first made under the Recovery Act have made SBA-backed loans a key source of much-needed capital for tens of thousands of small-business owners, helping them not just keep their doors open, but also grow and create jobs all across the country," said Mills.

"Beginning in May, we saw the SBA loan queue begin to grow, which was evidence of both the continued need for these tools and the challenges small-business owners face in getting loans," Mills noted. "Within days of the President’s signature, the authority and the funding provided in the Small Business Jobs Act have allowed us to clear out our loan queue and begin getting capital in the hands of the more than 1,900 small-business owners who had been waiting -- some, for most of the summer."

Mills pointed out that the Small Business Jobs Act will support an estimated $14 billion in lending with only $505 million in taxpayer funds -- including many of the loans approved from the queue.

The loan enhancements for SBA-backed financing were key incentives in helping revive the availability of capital for small businesses after the credit crunch in late 2008 and early 2009. The increased guarantees and reduced fees in SBA’s two largest lending programs sparked a significant turnaround in SBA lending and have been instrumental in helping jump-start the economy for small businesses.

From the passage of the Recovery Act in February 2009 through the end of September, these incentives for borrowers and lenders helped support nearly $30 billion in SBA-backed loans to nearly 70,000 small businesses.

The SBA re-opened its loan queue in May, when funding for the incentives was nearly exhausted. Small-business loan applicants who wanted the benefits of the incentives could choose to place their loan in the queue to await funding from either an extension of the enhancements by Congress, or funds coming available as a result of cancellations of previously approved Recovery loans.

By the time President Obama signed the Small Business Jobs Act on Sept. 27, more than 1,400 "conditionally" approved small-business loan applications were in the queue’s waiting list -- with more than 500 more choosing to go into the queue by Oct. 1. With funds provided in the Small Business Jobs Act, SBA began making "final" approval of remaining loans in the queue on Oct. 1.

SOURCES: Library of Congress, U.S. Small Business Administration
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SBA Releases Final Women-Owned Small Business Rule to Expand Access to Federal Contracting Opportunities

With today's publication of a final rule in the Federal Register, the U.S. Small Business Administration will begin implementation of its women-owned small business [WOSB] contracting program. The agency expects the program to be available for WOSBs in early 2011.

The rule is part of the Obama Administration’s overall commitment to expanding opportunities for small businesses to compete for federal contracts -- in particular, those owned by women, socially and economically disadvantaged persons, and veterans.

This rule identifies 83 industries in which WOSBs are under-represented, or substantially under-represented, in the federal contract marketplace. In addition to opening up more opportunities for WOSBs, the rule is also another tool to help achieve the statutory goal that five percent of federal contracting dollars go to women-owned small businesses.

"Women-owned businesses are one of the fastest-growing sectors of our nation’s economy, and even during the economic downturn of the last few years, have been one of the key job-creation engines in communities across the country," said SBA Administrator Karen Mills [pictured].

"Federal contracts provide critical opportunities for owners of small firms to take their business to the next level and create good-paying jobs," Mills added. "Despite their growth and the fact that women lead some of the strongest and most innovative companies, women-owned firms continue to be under-represented in the federal contracting marketplace. This rule will be a platform for changing that by providing greater opportunities for women-owned small businesses to compete for, and win, federal contracts.”

With the publication today of the final rule, SBA -- in conjunction with the Federal Acquisition Regulatory Council -- will begin a 120-day implementation of the WOSB contracting program, including building the technology and program infrastructure to support the certification process and ongoing oversight. With implementation expected to take several months, the agency expects that federal agencies’ contracting officers will be able to start making contracts available to WOSBs under the program in early 2011.

The creation of a rule to increase federal contracting opportunities for WOSBs was authorized by Congress in 2000. Since that time, SBA took a number of steps to study and analyze the market -- including looking at participation by women-owned small businesses across all industries.

Various draft rules were made available for public comment in prior years, but shortly after taking office, the Obama Administration drafted a new, comprehensive rule, based on the analysis of the prior studies and on all the questions and comments previously received. The proposed rule was published for public comment on March 2, 2010, for 60 days. SBA received over 1,000 comments during that time.

Some of the components of the Women-Owned Small Business rule include:

* To be eligible, a firm must be 51 percent owned and controlled by one or more women, and primarily managed by one or more women. The women must be U.S. citizens. The firm must be "small" in its primary industry, in accordance with SBA’s size standards for that industry. In order for a WOSB to be deemed "economically disadvantaged," its owners must demonstrate economic disadvantage in accordance with the requirements set forth in the final rule.

* Based upon the analysis in a study commissioned by the SBA from the Kauffman-RAND Institute for Entrepreneurship Public Policy, the final rule identifies 83 industries [identified by "NAICS" codes] in which women-owned small businesses are under-represented or substantially under-represented in federal procurements.

* The SBA has identified eligible industries based upon the combination of both the "share of contracting dollars" analysis, as well as the "share of number of contracts awarded" analysis used in the RAND study. This differs from an earlier proposed version of the rule, which identified only four industries in which women-owned small businesses were under-represented. This earlier version proposed to identify eligible industries based solely on the "share of contracting dollars" analysis used in the RAND study.

* In accordance with the statute, the final rule authorizes a set-aside of federal contracts for WOSBs where the anticipated contract price does not exceed $5 million in the case of manufacturing contracts, and $3 million in the case of other contracts. Contracts with values in excess of these limits are not subject to set-aside under this program.

* The final rule removes the requirement, set forth in a prior proposed version, that each federal agency certify that it had engaged in discrimination against women-owned small businesses in order for the program to apply to contracting by that agency.

* The proposed rule allows women-owned small businesses to self-certify as "WOSBs" or to be certified by third-party certifiers, including government entities and private certification groups.

* The final rule requires WOSBs which self-certify to submit a robust certification verification, to complete the certifications at the federal Online Representation and Certification Application ["ORCA"] Web site, and also to submit a core set of eligibility-related documents to an online "document repository" to be maintained by the SBA. Each agency’s contracting officers will have full access to this repository.

* The SBA intends to engage in a significant number of program examinations to confirm eligibility of individual WOSBs.

* In the event of a contract protest or program review, the SBA has the authority to request substantial additional documentation from the WOSB to establish eligibility.

* SBA intends to pursue vigorously punitive action against ineligible firms that seek to take advantage of this program and, in so doing, to deny its benefits to the intended legitimate WOSBs.

* * *

GoodBiz113's Take: After languishing for eight long years during the Bush Administration, this rule in favor of WOSBs couldn't be more timely. Hats off to Administrator Mills and her team for finally making it happen for women-owned small businesses and our stakeholders.

SOURCE: U.S. Small Business Administration
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