Landrieu Votes Against Snowe Regulatory Amendment, Citing Lack of Congressional Review

Today, United States Sen. Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, voted against a regulatory reform amendment by Sen. Olympia J. Snowe [R-Maine], ranking member of the Small Business Committee.

The Freedom from Restrictive Excessive Executive Demands and Onerous Mandates Act of 2011, S. AMDT 390, reforms the regulatory process to ensure that small businesses are free to compete and to create jobs, and for other purposes. It was opposed by numerous Senate committees because of the lack of congressional input in the ongoing efforts to provide regulatory relief for small businesses.

"Every day, small-business owners come to my office asking for regulatory relief, and I am committed to removing unnecessary burdens that get in the way of the day-to-day operations of businesses," said Landrieu. "This amendment, however, has yet to have a single Congressional hearing. Because Sen. Snowe’s amendment reaches so far outside of the realm of small business, it seems irresponsible for us to move forward unless it goes through the entire process.

"There have been at least four other regulatory reform bills filed this Congress, and I know the chair of the committee of jurisdiction is doing everything he can to schedule a full hearing in the near future.

"I recognize that some federal regulations are a burden on small businesses. I agree it is important to streamline them -- but there is a time and a place to deal with that issue.

"I have tried to be helpful to my colleague. Last summer, when the Small Business Jobs Act was pending here in the Senate, I personally worked with my ranking member to include several of her provisions on regulatory relief into that bill, now law."

Snowe filed a similar amendment to S. 493, the SBIR/STTR Reauthorization Act of 2011. During negotiations of S. 493, Landrieu offered to hold a hearing on Sen. Snowe’s regulatory reform amendment through the Small Business Committee, but Snowe declined. After five weeks of debate and 150 filed amendments, efforts to end debate and pass the long-term reauthorization of this important small-business program failed.

SOURCES: GovTrack.us, Library of Congress, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration
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Sens. Landrieu, Snowe Honor Entrepreneurial Spirit in America

Late yesterday, the U.S. Senate passed a resolution introduced by Senators Mary L. Landrieu [D-La., pictured] and Olympia Snowe [R-Maine], chair and ranking member of the Senate Committee on Small Business and Entrepreneurship, respectively, highlighting the critical role that small businesses play in our nation’s economy.

The President signed a proclamation declaring the week of May 15, 2011, as National Small Business Week, honoring our country’s 27.2 million small businesses, and the owners and employees of these firms.

"During National Small Business Week, we honor the nation’s small businesses and entrepreneurs who take risks and start their own businesses," said Landrieu. "It has been a challenging, exciting and, in some ways, promising two years for small businesses, but our work in Congress cannot stop.

"America’s entrepreneurs deserve the recognition of our nation and need the support of Congress to boost job creation and economic growth. As we reflect on the contribution small businesses have made to our economy, I encourage all Americans to celebrate entrepreneurs across America and take a moment to visit your town’s small businesses.”

"National Small Business Week is a time to recognize the extraordinary contributions that small businesses make to the health and vitality of our economy," Snowe noted. "With nearly 30 million small businesses nationwide -- and 150,000 in Maine alone -- these firms are the engines of our economy, and our lifeline to emerge from this economic downturn.

"I hope my colleagues in Congress will join me in celebrating small businesses every week of the year, by reflecting on the countless contributions these firms make to our nation, and focusing on initiatives that enhance -- not inhibit -- their ability to prosper, innovate and create well-paying jobs for Americans."

National Small Business Week Marks 48 Years

Every year since 1963, the President has recognized entrepreneurs by proclaiming National Small Business Week. This resolution expresses the Senate’s appreciation of the efforts and achievements on the part of small-business owners and employees, whose hard work and commitment to excellence have made these firms a key part of the economic vitality of the United States.

According to the Small Business Administration, small firms constitute 99.7 percent of all U.S. employers, and account for roughly half of the nation’s private-sector jobs.

To see the complete resolution, please click here.

SOURCES: U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration
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To Prevent Shutdown, Sen. Landrieu Files Extension of SBIR and STTR Programs

United States Senator Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, today filed a one-year extension of the Small Business Innovation Research [SBIR] and Small Business Technical Transfer [STTR] programs.

After five weeks on the floor, the federal government’s two largest research-and-development programs for small businesses failed to pass a crucial vote last week. Long-term reauthorization is now stuck, and the current extension of these programs is set to expire on May 31, 2011.

"After years of negotiations, and with so much support from my colleagues and the small-business community, it is extremely unfortunate that we are right back where we started," said Landrieu. "To ensure that the SBIR and STTR programs do not end completely, I am filing a one-year, clean extension.

"There are too many businesses across the country with great ideas that are working with our government to develop technologies to improve national security; better the diagnosis, treatment and cure of diseases; and move us closer towards energy independence and efficiency. They would be left in the dark if these programs were to stop. We’d lose so much good technology and important investments.

"To avoid that, it is necessary to make sure the programs don’t shut down or slow down. I hope that we can provide, if only for one year, some sense of certainty for the businesses that partner with the government, and I urge my colleagues to support its continuation."

The SBIR and STTR Reauthorization Act of 2011, S. 493, passed out of the Committee on March 9, 2011, by a nearly unanimous vote of 18-1. Last week, the Senate held a cloture vote to end debate on S. 493, but the motion failed by a vote of 52-44.

To view the text of the extension, please click here.

SOURCES: GovTrack.us, U.S. Senate Committee on Small Business and Entrepreneurship
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Sen. Landrieu: Small-Business Innovation Now in Jeopardy

Sen. Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, made the following statement after this morning’s cloture vote on the SBIR/STTR Reauthorization Act of 2011:

"Today was our last chance to reauthorize these important programs and provide some continuity to the small businesses that depend on them," Sen. Landrieu said. "I have to thank the many groups that went out of their way to support this bill, and who offered concessions during our negotiations to ensure a long-term reauthorization was possible.

"This bill, which reauthorizes the federal government’s largest research-and-development programs for small businesses, passed out of our committee with nearly unanimous support, but wound up hitting a brick wall when it reached the Senate floor.

"Unfortunately, some senators chose to stonewall in a self-serving effort to get their way on unrelated issues instead of letting every U.S. Senate committee do their due diligence with regulatory reform.

"Despite having so much bipartisan support going into this debate, not one Republican voted for this job-creating small-business bill -- even those senators in states like Massachusetts, Texas, Pennsylvania and Florida, where almost 23,000 small businesses have gotten billions in SBIR and STTR projects.

"The door may have shut today for reauthorization of programs that have given us companies that are the envy of the world -- like Qualcomm, Sonicare and iRobot. But rest assured, at some point, we will find a way get this done."

SOURCES: GovTrack.us, U.S. Senate Committee on Small Business and Entrepreneurship
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Bipartisan Landrieu-Cochran-Wicker Legislation Gives Disaster Relief to Hard-Hit Gulf Coast Small Businesses

Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu [D-La., pictured] -- along with Sens. Thad Cochran [R-Miss.] and Roger Wicker [R-Miss.] -- just introduced a bill that provides financial relief to as many as 11,000 businesses in Louisiana, Mississippi, Alabama and Texas.

These small businesses are still rebuilding after Hurricanes Katrina, Rita, Gustav and Ike. With this bipartisan legislation, they have the potential to create or save up to 40,000 jobs.

"The small businesses in these hard-hit areas have not survived just one disaster, but three: Hurricanes Katrina and Rita in 2005; Hurricanes Gustav and Ike in 2008; and, last year, the Deepwater Horizon [oil spill] disaster," said Sen. Landrieu. "These valuable, pioneer businesses took the initiative to quickly reopen after the storms, and gave communities the confidence to come home. If residents see their local gas station or their favorite restaurant open, they are more likely to come back to rebuild their homes -- spurring economic growth in these devastated areas.

"As we approach the sixth anniversary of Hurricanes Katrina and Rita, we must ensure that these pioneers can make it past this anniversary. This legislation will help these businesses not just survive, but grow and hire workers."

"The economic recovery, both on the Gulf Coast and nationally, has been stubbornly slow," said Cochran. "Easing the federal loan burden on small businesses that quickly rebuilt after successive hurricanes should help with job creation. I support this legislation as a worthwhile tool to continue rejuvenating the economy of Southern Mississippi and the Gulf Coast region."

"Gulf Coast small businesses and entrepreneurs continue to recover from Hurricane Katrina and the devastation caused by last year’s oil spill," said Wicker. "Economic opportunities created by this legislation would provide an important boost at a critical time for the entire region."

The Southeast Hurricanes Small Business Disaster Relief Act of 2011 would give the Small Business Administration [SBA] the authority to waive up to $15,000 of the interest payments for businesses in Louisiana, Mississippi, Alabama and Texas over three years. The SBA is required to give priority to applications with the following credentials:

* Businesses with 50 employees or fewer;

* Businesses affected by Hurricanes Katrina and Rita, that reopened between September 2005 and October 2006;

* Businesses affected by Hurricanes Gustav and Ike, that reopened between September 2008 and January 2009; and/or

* Businesses that suffered substantial economic injury from the Deepwater Horizon disaster

Representative Cedric Richmond [D-La.] will be introducing the House companion bill. Last Congress, a similar proposal received support from the U.S. Chamber of Commerce, the U.S. Conference of Mayors, the New York Times, the Times Picayune, and other Gulf Coast groups.

Applications for the program would not be accepted after March 31, 2012.

GoodBiz113's Take
Once again, Sen. Landrieu is leading an impressive bipartisan initiative to serve the far-reaching interests of small businesses. Entrepreneurs of all political stripes are fortunate that she's doing so.

Hopefully, Congress will act swiftly to pass the Senate and House versions of this legislation, so that Gulf Coast small-business owners can focus on growing their enterprises -- and the U.S. economy.

SOURCES: U.S. Senate Committee on Small Business and Entrepreneurship, Wikipedia
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On MSNBC, Senator Landrieu Discusses Need for Small-Business Innovation to Help Close Deficit and Create Jobs

This morning, U.S. Senate Committee on Small Business and Entrepreneurship Chair Mary L. Landrieu [D-La., pictured lower right] appeared on MSNBC’s "Morning Joe."

As debate over the SBIR/STTR Reauthorization Act of 2011 continues on the Senate floor, Sen. Landrieu discussed how reauthorization of the Small Business Innovation Research [SBIR] and Small Business Technical Transfer [STTR] programs will aid in efforts to close the deficit and create jobs.

To view the video clip, go to: http://bit.ly/LandrieuYouTube.

SOURCES: GovTrack.us, MSNBC, U.S. Senate Committee on Small Business and Entrepreneurship, YouTube
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Senators Reid, Landrieu Discuss Impact of Jobs Bill to Boost Innovation by Small Businesses

Nevada Senator Harry Reid [pictured] and Louisiana Senator Mary Landrieu, chair of the Committee on Small Business and Entrepreneurship, today discussed the U.S. Senate’s third jobs bill: Reauthorization of the Small Business Innovation Research [SBIR] and Small Business Technical Transfer [STTR] programs.

First passed under President Ronald Reagan in 1983, these initiatives have awarded more than 89,000 research and development grants worth more than $28 billion to help thousands of small businesses across the country expand and hire new workers.

The senators were joined on the call by Dr. Kenneth Eilertsen, Vice President and Chief Scientific Officer of Louisiana-based NuPotential Inc., and Jim Hodge, Chief Technical Officer of southern Nevada-based K2 Energy Solutions Inc. Both companies have taken advantage of the SBIR and STTR programs.

"Tens of thousands of small businesses like Nevada-based K2 Energy Solutions have taken advantage of these innovation grants to create jobs and discover the exciting, new products that will keep America competitive in a 21st century global economy," Reid said. "These grants have a highly successful track record. They have helped launch new ideas -- everything from the electric toothbrush, to satellite antennae that helped first responders in Haiti, to technologies that keep our food safe and our military’s tanks from overheating in the desert.

"The only way to turn our economy around is to continue investing in the small businesses in Nevada, and across our country, that are come up with the next brilliant technological advancement that will put people back to work."

"We have already created the formula to get the best return on our investment in small, high-technology firms," said Sen. Landrieu. "Businesses like Mezzo Technologies in Louisiana, which began with only two employees, now has an annual payroll of $1.2 million. That’s putting Americans back to work with cost-effective investments in America’s entrepreneurs through programs like SBIR and STTR.

"In addition to the good return on investment from Mezzo, we’ve got the undeniable success of Qualcomm. With roughly $1.5 billion in SBIR awards, Qualcomm now pays more than $1 billion in annual taxes -- essentially paying for half of the SBIR and STTR programs each year.

"Clearly, there is a plan of action in place. Now it’s time for to execute, and I hope my colleagues will join me in supporting America’s innovators and job creators."

Since the SBIR and STTR programs began 28 years ago, Louisiana has received nearly $60 million and 239 grant awards for its small-business community. Louisiana-based NuPotential received more than $550,000 in STTR grants in collaboration with Louisiana State University to improve cattle somatic cell nuclear transfer [cloning] using NuPotential technology.

Over the last three decades, Nevada has received more than $76 million in grants -- 224 awards, with an average of $341,549 per award -- placing Nevada seventh among all states in dollars-per-award average and well above the national average of $316,341 per award per state.

The Henderson, Nev.-based company, K2 Energy Solutions -- one of the nation’s leaders of rechargeable battery technology -- has received nearly $140,000 in SBIR grants to create an updated BB-2590 battery for the U.S. Army that is three times as powerful, can be used longer, is lighter-weight, capable of a faster recharge, and costs less than the original. Such improvements will drastically reduce the number of batteries that troops must carry in the field, and save weight and logistics needed to transport the battery to the field.

After 10 short-term reauthorizations since 2008, the Senate will soon vote to give stability to the SBIR and STTR programs, so that they can continue to support America’s small businesses. Stay tuned...

SOURCES: GovTrack.us, U.S. Committee on Small Business and Entrepreneurship
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Bipartisan Landrieu-LeMieux Letter to Treasury Secretary Geithner Urges Swift Implementation of Small-Business Lending Initiatives

Yesterday, United States Senators Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, and George LeMieux [R-Fla.] sent a letter to Secretary of the Treasury Timothy Geithner requesting swift implementation of the Small Business Lending Fund [SBLF] and the State Small Business Credit Initiative, two provisions in the Small Business Jobs Act of 2010.

Sens. Landrieu and LeMieux were instrumental in including the SBLF in the Small Business Jobs Act of 2010 -- legislation that has created a $30 billion strategic partnership with community banks to boost lending to small firms.

"As you know, community banks participate disproportionately in small-business lending compared to large banks," Sens. Landrieu and LeMieux wrote in the letter. "With this in mind, it is imperative that we do all we can to assist these community banks in increasing small-business lending. The thoughtfully designed programs in the Act are crucial for community banks across the country. Thoughtful and prudent implementation is also necessary, and we ask that you act as quickly as possible. We urge you to retain small-business access to capital as your top priority in implementing provisions of the Act.

"For months during the crafting of the underlying bill, we heard from bank after bank that would benefit from the Small Business Lending Fund, as well as from the State Small Business Credit Initiative. Since the bill was signed into law on Sept. 27, 2010, our offices have heard from countless additional banks that are eager to access these important programs. Banks who participate will have economic incentives to increase their small-business lending. In turn, this will provide vital support to our small businesses in these difficult economic times."

The Small Business Lending Fund would inject $30 billion through community banks into the small-business economy. This provision is estimated to save taxpayers $1.1 billion over 10 years.

SBLF was endorsed by several organizations, including the Independent Community Bankers of America, American Bankers Association, National Small Business Association, National Association for the Self-Employed, Small Business Majority, National Bankers Association, and the Conference of State Bank Supervisors, among others.

The State Small Business Credit Initiative provides $1.5 billion in grants to support at least $15 billion in new small-business lending through already-successful state-run programs. Many of these state-run programs are facing cutbacks due to budget shortfalls, and this initiative will allow states to build upon successful models for state small-business programs, including Capital Access Programs [CAPs], collateral support programs, and loan guarantee programs -- including those targeted at rural and agricultural small businesses.

To view the full text of the letter sent to the Treasury Department, go to: http://bit.ly/LandrieuLeMieuxLetter.

GoodBiz113's Take
Who says that Washington is devoid of bipartisanship? This is a prime example of how Democrats and Republicans can actually work together -- in this case, on behalf of small businesses.

Kudos to Sens. Landrieu and LeMieux for doing what Americans want our elected officials to do: cooperate and collaborate for the greater win-win-win good.

SOURCES: OpenCongress, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration, The White House
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Verbatim: Small Business Fuels Discourse During 2010 Midterm Election Campaigns

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 eight days before the critical 2010 midterm elections, we share some views with you, our loyal readers.

* * *

"Now, I want to just say a little bit about Ron, because so much of the reason we're here is to make sure that he continues to do the outstanding work that he's doing on behalf of south Florida. They have lived here for 25 years. This is where they raised their family...

"This is where Ron helped run a small business. That's who he's been fighting for since he got to Washington -- families and small business owners -- because he's part of them, he understands them." -- President Barack Obama, on a campaign stop in South Florida to support second-term Rep. Ron Klein [D.-Fla.], who aims to beat back challenger Allen West [Miami's CBS4.com, Oct. 11]

* * *

"The Small Business Jobs Act is helping the private sector move the ball forward on job creation and economic growth... I'm pleased to see these SBA loans made to local businesses, and I expect that this law will continue to expand private-sector lending in the near term through the incentives it provides for small community lenders." -- Rep. Tim Walz [D-Minn.], teaming with Sens. Amy Klobuchar and Al Franken [D-Minn.], and Reps. Betty McCollum and Keith Ellison [D-Minn.] to announce that more than $18 million in loans will go to small businesses throughout Minnesota, helping many of them remain open and creating nearly 100 jobs [TradingMarkets.com, Oct. 11]

* * *

"Spending within our means, looking at our long-term structural deficits, supporting small businesses." -- Small-business owner-turned-Congresswoman Betsy Markey [D-Col.], summing up her top goals as she seeks a second term representing citizens of Colorado's Fourth District [Capital News Connection, Oct. 15]

* * *

"I'm working with your local leaders to provide the kinds of investments to create jobs, so you're strong again and our Main Street businesses keep their doors open." -- Three-term U.S. Senator Patty Murray [D-Wash.], who has helped secure millions of dollars to repair Howard A, Hanson Dam and replace Seattle's South Park Bridge [Seattle Times, Oct. 17]

* * *

"If Republicans in Congress have their way, the millions of women who will benefit from our small-business lending programs -- from the consumer protections in the Financial Reform bill, and from the tax cuts that have helped them through a challenging economic time -- would be left without these benefits... There is an important choice for women in this country to make about whether that is the direction they want the country to move in." -- White House Deputy Communications Director Jen Psaki [ABC News, Oct. 18]

* * *

"The President knew when he came into office that he was going to have to take immediate and bold action, or we might fall down in a hole that we could not get out of. The President takes office in January of 2009. And within 30 days, passes the Recovery Act.

"Now, in the first 100 days of the Recovery Act, that gives tax relief to more than 110 million people, cuts taxes for small business eight different times. In that 100 days, authorizes 3,000 transportation projects, starts on the path to improvement...

"And it doesn’t stop with the Recovery Act. Already this year, the President signed the HIRE Act, which gives specific incentives for companies to hire people who have been unemployed for a period of time, and gets through the Small Business Jobs Act, which brings up to 16 the number of times he cut taxes for small business, reduced the capital-gains rate to zero for anybody starting their own business or investing in a small business." -- Austan Goolsbee, chairman of the Council of Economic Advisers, during the second edition of his White House White Board [White House, Oct. 19]

* * *

"I look at the jobs issue as a step-by-step process. The Recovery Act stopped our economy from going off a cliff and saved the jobs of millions of teachers, police, firefighters, first responders and others. I also have seen firsthand how it has created private-sector jobs across Wisconsin -- whether it is building a new bridge in Medford, a water sanitation system in Wisconsin Rapids, or a senior center in Plymouth.

"The next step was the HIRE Act, which gave businesses that hired workers that had been unemployed for 60 days a tax break.

"And now we have passed the Small Business Jobs Act to free up credit, so small businesses -- responsible for the majority of job creation in our country -- can expand and create jobs.

"I want to continue these targeted efforts with a jobs tax credit, which would extend and expand the HIRE Act tax break by making any business that hires new workers, expands hours or expands payroll, eligible for a tax break. As we continue to recover from the worst recession since the Great Depression, this type of tax break will help businesses next year when they are in a better position to hire." -- U.S. Senator Russ Feingold [D-Wis.], during a Q&A interview [Telegraph-Herald Online, Oct. 21]

* * *

"I think that would be a terrible mistake... Our economy depends on a financial system in which everyone competes on a level playing field, and everyone is held to the same rules—whether you’re a big bank, a small-business owner, or a family looking to buy a house or open a credit card." -- President Barack Obama in his weekly address, warning that if Republicans take control of Congress this November, they would repeal consumer protections in the Frank-Dodd financial regulatory reform legislation, which he called "one of the most important victories" he has achieved in office. [Weekly Address, Oct. 23]

* * *

"Clark, an attorney and mother of two, is a respected legislator from St. Cloud who was first elected in 2005. Endorsed by Democratic Sen. Amy Klobuchar, Clark has been a strong advocate for small-business owners, and pushed for the development of angel investor tax credits in the state." -- Editorial endorsement of Tarryl Clark [D-Minn.], who is challenging two-term U.S. House Rep. Michelle Bachmann [R-Minn.] to represent voters in Minnesota's Sixth District [Star Tribune endorsement, Oct. 24]

* * *

"Barbara Boxer's top priority is to create jobs and turn our economy around. She is fighting to provide more loans to small businesses, provide tax breaks to the middle class, cut our deficit in half by 2013, rebuild our roads and bridges and make California the hub of the new clean-energy economy.

"With so many people out of work, it's shocking that her opponent still wants to go back to the job-killing policies of yesterday. Polices that led to 700,000 job losses a month and the crisis on Wall Street due to deregulation.

"Boxer is working hard to reverse those policies and replace them with smart, targeted initiatives that create jobs here at home -- jobs for today and tomorrow...

"Boxer knows that small businesses are the lifeblood of strong local economies. This is why she supported the Small Business Jobs Act, so that small businesses can expand and create jobs. This legislation includes a provision based on a bill authored by Boxer that would create a $30 billion small business lending fund to help community banks extend credit to small businesses.

"The legislation will help small businesses compete for large federal contracts, increase the maximum size of SBA-backed loans and reduce the fees associated with these loans. The bill also includes $12 billion in tax incentives to help small and medium-sized businesses expand and create new jobs.

"Boxer strongly supported the economic Recovery Act that will help provide nearly 65,000 small-business loans, including 9,600 loans to Californians worth $5.2 billion in lending authority. These loans will make it possible for successful small businesses to expand, hire more employees and further stimulate our local economy." -- Former San Jose Mayor Susan Hammer [1991-1998], endorsing U.S. Senator Barbara Boxer [D-Cal., pictured above with supporters] for a fourth term in the U.S. Senate [San Jose Mercury News, 10/24/2010]

SOURCES: ABC News, GovTrack.us, OpenCongress, San Jose Mercury News, Seattle Times, StarTribune,com, Telegraph-Herald.com, 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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Sens. Landrieu, Kerry Introduce Legislation to Boost Broadband Internet Access for Small Business

United States Senators Mary L. Landrieu [D-La.], chair of the Senate Committee on Small Business and Entrepreneurship, and John F. Kerry, [D-Mass., pictured] introduced legislation to better assist small-business owners in accessing broadband Internet technology.

The "Small Business Broadband and Emerging Technology Enhancement Act of 2010" [S. 3506] addresses many of the recommendations from the Federal Communications Commission’s [FCC] March 2010 report -- entitled "Connecting America: The National Broadband Plan" -- which calls for increased broadband access for rural small businesses.

"Improving access to technology for small businesses, particularly in rural areas, is an important component to economic recovery," said Sen. Landrieu. "With access to broadband Internet, a small firm that once was confined to a single town has the ability to reach a new customer base on the opposite side of the world. Louisiana is home to some of the most rural, underserved areas in the country. By assisting rural firms in upgrading their technology, I am committed to making these small businesses play an active role in jump-starting local economies.

"The FCC has done an extensive evaluation of the effects of advanced technology on small-business growth. The adoption of many of the recommendations of this report will support small businesses interested in expanding their operations. The Small Business Committee is dedicated to providing added assistance to these small businesses, and this legislation puts us on the path to doing so."

Sen. Kerry, a member of the Small Business Committee and its former chair, noted that the legislation will serve his constituents well. "Universal broadband access will empower small businesses across Massachusetts," he said. "It means greater connectivity for employees, while giving local businesses global access, allowing a shop in Western Massachusetts to make sales in Western Europe.

"Today, broadband is essential to the success of our small businesses. I commend Sen. Landrieu for championing the effort to connect them."

The legislation introduced by Sens. Landrieu and Kerry would:

* Create a Broadband and Emerging Technology Coordinator within the SBA to better coordinate agency programs that assist small businesses in adopting, making innovations in, and using, broadband and other emerging technologies;

* Amend the mission of Small Business Development Centers [SBDCs] to include assisting small businesses in accessing broadband and other emerging technologies;

* Amend the mission of the Women’s Business Centers [WBCs] to include assisting women-owned small businesses in accessing broadband and other emerging technologies;

* Allows SBA 7[a], 504, and Microloan programs to include upgrading broadband technology under eligible uses;

* Create the "Rural Small Business Technology Pilot Program" to provide excess government-owned computers each year to qualified small businesses at little or no cost; and

* Require the SBA administrator, in consultation with the administrator of General Services, to submit a report to the committee on opportunities at SBA, through deployment of technology in its district offices, to assist with the development of broadband and wireless technology for local small businesses.

In April, the Small Business Committee held a hearing to discuss efforts to increase broadband accessibility. The hearing specifically highlight the FCC National Broadband Plan, which included several Landrieu recommendations. Yos can view information from the hearing at: http://bit.ly/BroadbandHearing.

Resources
To view the complete text of the "Small Business Broadband and Emerging Technology Enhancement Act of 2010," S. 3506, please go to: http://bit.ly/SmallBizBroadband2010.

To keep apprised of national broadband-related developments and events, please visit: http://www.broadband.gov/.

To read the complete text of the FCC's National Broadband Plan, please go to: http://www.broadband.gov/plan/.

SOURCES: Federal Communications Commission, Library of Congress, U.S. Senate Committee on Small Business and Entrepreneurship
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House Passes Small-Business Capital Bill; Initiative Would Reinvigorate Investment in Small Businesses

Yesterday, the U.S. House of Representatives passed the Small Business Lending Fund Act of 2010, H.R. 5297, by a vote of 241-182. The legislation will aid small businesses in securing capital through new community bank incentives, support for state lending initiatives, and by opening venture-capital markets to small businesses.

"Today, under the leadership of Speaker Pelosi, Majority Leader Hoyer, Chairman Frank, Chairman Levin and Chairwoman Velázquez, the House of Representatives took strong action to help continue moving our nation's economic recovery forward," declared U.S. Treasury Secretary Tim Geithner. "At a time when too many small businesses are struggling to find access to the credit they need to hire and expand, this legislation will help ensure that Main Street entrepreneurs are better positioned to create new jobs and invest in their local communities."

The legislation passed by the House includes two key lending initiatives put forward by the Administration:

1] A Small Business Lending Fund that will provide small banks with capital and incentives to extend more credit; and

2] A State Small Business Credit Initiative to support innovative state small business programs -- many of which have been threatened by budget shortfalls.

"The lending initiatives passed today, along with the elimination of capital-gains taxes on small business investments approved by the House earlier this week, will help make certain that small businesses can play a critical role in building and sustaining our nation's economic recovery," Geithner added. "The Administration urges the Senate to take swift action on a package of measures to support small businesses, and looks forward to working closely with Congress as they move to finalize this legislation."

Rep. Nydia M. Velázquez [D-N.Y., pictured], chairwoman of the House Committee on Small Business, was pleased by yesterday's development. "As our most prolific job creators, small businesses will be central to the recovery of the U.S. economy," she said. "However, for entrepreneurs to expand and create jobs, they need access to financing. The measure we approved will make both credit and equity capital available for small firms."

While the legislation would establish a new $30 billion lending fund for community banks -- which proponents say would provide $300 billion in lending to entrepreneurs -- key changes were made during debate of the bill to ensure Main Street businesses benefit from the legislation:

* Rep. Glenn Nye [D-Va.] authored safeguards in the bill that will require banks to substantially boost their small-business lending to qualify for funds; and

* To further assist small firms, language prepared by Rep. Kurt Schrader [D-Ore.] would establish a new borrower assistance program, providing additional funds to small businesses who take out loans. The funds can be used at the entrepreneur's discretion to reduce their interest rates, defer their loan or cover monthly payments.

"Since the onset of the financial crisis, much has been done to shore up our nation's banks, but entrepreneurs' needs have gone unmet," Velázquez said. "These amendments will make sure that small businesses benefit from the current proposal, and I thank Mr. Nye and Mr. Schrader for offering them."

With the capital markets evolving, small businesses are increasingly looking beyond debt financing to equity capital to meet their financing needs. While entrepreneurs have traditionally used assets like real estate to secure loans, more and more business owners today seek financing based on their strengths; e.g., scientific expertise, research technologies, and potential for commercialization. For these firms, investment capital is a better financing solution.

To account for these economic changes, the legislation contains provisions aimed at reinvigorating investment in small start-ups. By establishing a new Small Business Early-Stage Investment Program, funds from the SBA will be paired with private capital to invest in small start-ups.

"In a world where revolutionary new products are conceived in dorm rooms and companies are born in garages, we need new ways of meeting businesses' capital needs," Velázquez noted. "The Small Business Early-Stage Investment Program recognizes this fundamental shift, taking steps to meet the capital needs of new businesses and helping them create jobs."

GoodBiz113's Take
This critical legislation is just the stimulus that U.S. small businesses need in order expand and create even more jobs for our nation's economic recovery. Kudos to Rep. Velázquez and her colleagues for propelling such far-reaching policy.

SOURCES: Community Development Venture Capital Alliance [CDVCA], Library of Congress, OpenCongress, U.S. Department of the Treasury, U.S. House Committee on Small Business, The White House
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President Obama on Removing Barriers for Small Business: 'We Have to Keep Moving Forward'

This morning, President Barack Obama met with several small-business owners and executives to discuss the economic challenges they face. Among his Oval Office visitors: Prachee J. Devadas, president & CEO, Synergy Enterprises Inc.; Anand A. Devadas, vice president of corporate operations, Synergy Enterprises Inc.; Bobby Pancake and Steve Wheat, partners of High 5 LLC, a franchisee of Buffalo Wild Wings; and Terry Haney, general manager of Buffalo Wild Wings Grill & Bar in Dover, Del.

Afterward, President Obama and his guests [pictured above] went out to the Rose Garden, where he called on Congress to pass legislation to provide new tax credits and lending incentives that will help small businesses grow and create new jobs. Following, is an excerpt from his speech:

"From the middle of 2007 to the end of 2008, small businesses lost 2.4 million jobs," Obama noted. "And because banks shrunk from lending in the midst of this financial crisis, it’s been particularly difficult for small-business owners to take out loans to open up shop or expand. It’s been hard to finance inventories and payroll and new equipment.

"Now, I’ve said before and I’ll repeat, government can’t guarantee success for these companies. But it can knock down barriers that prevent owners from getting loans. Government can’t create private-sector jobs. But it can create the conditions for small businesses like these to grow and to hire more people. That’s what’s guided much of our economic agenda.

"So let me be specific. Last year, we enacted seven tax cuts for America’s small business -- seven tax cuts. So far, the Recovery Act has supported over 68,000 loans to small businesses, which translates into nearly $29 billion in new lending.

"More than 1,300 banks and credit unions that had not made SBA loans since before the financial crisis are now lending again. More than $8 billion in federal Recovery Act contracts are now going to small businesses. In fact, Prachee has been able to add 20 part-time and full-time workers because of the Recovery Act.

"In addition, as a result of a bill I signed into law a few months ago, businesses are now eligible for tax cuts when they hire -- when they hire unemployed workers, they're eligible for tax cuts. Companies are also able to write off more of their investments in new equipment.

"And, as part of the health reform package, 4 million small-business owners recently received a postcard in their mailboxes from the IRS, and it was actually good news: It told them that they could be eligible for a health-care tax credit this year that could be worth perhaps tens of thousands of dollars to these small businesses.

"So these and other steps are making a difference. Little more than a year ago, the economy was in freefall. Today, it’s growing again. Little more than a year ago, the economy was losing an average of 750,000 jobs per month. It’s now been adding jobs for five months in a row.

"But even though we are in the process of digging ourselves out of this recession, we’re still in a pretty deep hole. Millions of our family members, our friends, our neighbors are still looking for work -- they're still faced with the prospects of long-term unemployment. Credit is still less available than it should be, particularly to small businesses.

"As small-business owners like Prachee and Bobby and Steve will tell you, we may be recovering but we’re not yet recovered. We have to keep moving forward.

"And that’s why I’m urging Congress to swiftly approve a set of tax breaks and lending incentives to spur hiring and growth at small businesses. The legislation that's being debated right now would eliminate capital-gains taxes for small investment -- for investments in small firms, which will help move capital to these companies across America. It will provide tax relief to small start-ups to encourage folks to open up businesses, as well.

"To foster more credit, the package would create the small-business lending fund I proposed in my State of the Union address, to help underwrite loans through community banks. And we’d create a new state small-business credit initiative, because states facing budget shortfalls are scaling back lending to small firms and manufacturers; that's working against our recovery. I’m also urging Congress to expand and extend successful SBA programs -- by increasing loan limits, for example -- something that could benefit people like Bobby and Steve.

"In fact, since the start of my administration, we’ve been hearing from small businesses that want to retain and hire more employees, but they need additional credit. And we’ve been hearing from small community banks that want to lend more to small businesses, but they need additional capital. So this bill helps fulfill both needs. And to help us create jobs without adding to our deficit, we’re making the tough choices to pay for these proposals.

"So I’m hopeful that the House will pass these measures next week, and that the Senate will follow as soon as possible -- with both support from Democrats and Republicans. And I’m eager to sign this tax relief and additional lending into law. That’s how we can continue to move our economy forward -- to continue on the path from recession to recovery, but also, ultimately, to prosperity."

To view a video of today's Rose Garden event, including President Obama's entire speech, go to: http://bit.ly/SmallBizBarriers.

SOURCES: HealthReform.gov, IRS.gov, U.S. Small Business Administration, The White House [photo]
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New Landrieu Amendment Provides Interest Relief for Small-Business Disaster Loans

Today, United States Senator Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, announced her intention to introduce an amendment that would offer businesses with Small Business Administration [SBA] disaster loans from the 2005 and 2008 hurricanes, interest relief of up to $15,000. Sen. Thad Cochran [R-Miss.] has indicated he intends to co-sponsor the measure.

"Businesses along the Gulf Coast have faced some of the worst disasters this country has ever seen," Sen. Landrieu said. "To this day, many of these businesses are struggling to pay down loans made from the hurricanes in 2005 and 2008.

"Now, they are being faced with another disaster that is threatening their way of life once again. With the oil spill in the Gulf of Mexico impacting businesses in Louisiana and along the entire Gulf Coast, we have the opportunity to offer some relief.

"This amendment allows the SBA to offer interest relief to small businesses with existing loans. It is my hope that this amendment will be adopted quickly when the full Senate considers the Supplemental next week."

The proposal would apply to disaster loans made after Hurricanes Katrina, Rita, Gustav and Ike. SBA would be required to prioritize applications for businesses with 50 employees or less, and businesses impacted by the BP oil spill. Businesses would still be responsible for the principal and the remaining interest of their loans. According to loan data from the SBA, this program could potentially help up to 12,000 businesses.

This amendment is similar to a bill, S. 2986, the Southeast Hurricanes Small Business Disaster Relief Act of 2010 -- introduced by Sens. Landrieu, Cochran and Roger Wicker [R-Miss.] -- which was endorsed by the U.S. Chamber of Commerce this week. To read the letter of endorsement, go to: http://bit.ly/Chamber2986.

GoodBiz113's Take
What's good for America's 27.2 million small businesses is good for the entire country -- especially since we create 60-80 percent of all new jobs here.

Sen. Landrieu's proposal will help small businesses impacted by myriad forms of disaster, and deserves swift action -- before the next oil spill, hurricane, tornado, wildfire, etc., brings livelihoods to a far-reaching halt.

SOURCES: GovTrack, U.S. Senate Committee on Small Business and Entrepreneurship
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April Job Creation Highest in Four Years; BLS to Hold Jobs-Related Web Chat on May 11

Today, the U.S. Department of Labor [DOL] announced that employers in almost every sector of work created a total 290,000 jobs in April -- the most jobs created in four years. U.S. Senator Mary L. Landrieu [D-La.], chair of the Senate Committee on Small Business and Entrepreneurship, released the following statement on the announcement, pushing her committee's bipartisan small-business job creation package to keep the momentum:

"The numbers released by the Department of Labor are an encouraging sign that American companies -- from manufacturing and construction companies, to retailers and health services -- are putting people back to work.

"The number of jobs created last month is the highest we have seen in four years. That is great news, but there are still more than 15 million Americans out of work. This Congress must build on the extraordinary steps already taken to stabilize the financial system, provide for those searching for employment, and put even more people back to work.

"As chair of the Small Business Committee, I know that small business can pave the way for more job creation. We have put forth a package of bipartisan bills aimed at spurring small-business growth and job creation, and I am calling on members of Congress to swiftly adopt these measures and continue on the path to economic recovery."

Sen. Landrieu's complete package of proposals can be viewed at http://bit.ly/SmallBizJobs.

May 11: BLS to Hold Web Chat
On Tuesday, May 11, from 1:00 to 2:00 p.m. Eastern Time, DOL's Bureau of Labor Statistics subject-matter experts will conduct a live Web chat to discuss national employment and unemployment data. They will answer as many questions as possible during the allotted time.

To join the discussion on the afternoon of May 11, go to www.bls.gov/chat/. Questions can also be submitted in advance through that link.

SOURCES: Organizing for America [chart], U.S. Bureau of Labor Statistics, U.S. Senate Committee on Small Business and Entrepreneurship
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President Obama Signs Extension for SBA-Backed Recovery Loans; Small-Business Recovery Act Lending Now Extended Through May

Late Thursday evening, President Barack Obama [pictured] signed legislation providing $80 million in additional funding to continue important enhancements in the U.S. Small Business Administration’s two key small-business loan programs.

The enhancements, first made available under the American Recovery and Reinvestment Act [ARRA], include a higher guarantee on some SBA-backed loans and small-business fee relief. The SBA estimates the $80 million will support about $2.8 billion in small-business lending under the 7[a] and 504 programs.

Administrator Mills Presses for Longer-Term Extension of Successful Programs
"Small businesses across the country have been able to secure critical financing as a result of the Recovery Act loan provisions and the continued interim funding we’ve received for the program," said SBA Administrator Karen Mills. "The increased guarantees and reduced fees on SBA loans have generated more than $25 billion in new loans to small-business owners and brought more than 1,200 lenders back to SBA loan programs.

"In fact, the first two quarters of the current fiscal year have been our best two opening quarters ever for the 7[a] program, with more than $7 billion in guaranteed loans. These programs have been successful in helping jump-start our economy, which is why we will continue to work with Congress on a longer-term extension of the increased guarantee and reduced fees.

“We also know that small businesses could greatly benefit from the additional tools the President has proposed -- including higher SBA loan limits and refinancing for commercial property mortgages, which could help thousands of small businesses avoid potential foreclosure. Small businesses need these improvements to ensure their access to the capital they need to drive economic growth and create jobs in communities all across the country."

As part of the Recovery Act, enacted on Feb. 17, 2009, SBA received $730 million to help small businesses -- including $375 million to increase the SBA guarantee on 7[a] loans to 90 percent, and to reduce borrower fees on most 7[a] and 504 loans. The funds for these programs were exhausted on Nov. 23, 2009, and an additional $125 million was provided in December. Those funds were exhausted in late February 2010, and an additional $60 million was subsequently provided. SBA was authorized for an additional $40 million in late March.

Under the new extension, SBA may continue to reduce loan fees in its 7[a] and 504 programs, and to provide higher guarantee levels on 7[a] loans through May 2010 -- or until the funds provided under the bill are exhausted.

This extension has no effect on the continued availability of financing under other SBA Recovery Act programs -- including SBA’s America’s Recovery Capital [ARC] loan program, and the agency’s Microloan program. Recovery Act funding still remains available for both of those programs.

For more information about SBA's efforts to promote far-reaching economic recovery, go to http://bit.ly/SmallBizRecovery.

SOURCES: Recovery.gov, U.S. Small Business Administration
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Landrieu Praises Extension of Important Recovery Act Lending Provisions to Benefit Small Businesses

Late last evening, United States Senator Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, commented on passage of the extension of several American Recovery and Reinvestment Act [ARRA] provisions that were set to expire on April 30, 2010. The extension provided $80 million to extend the higher guaranty for 7[a] loans, plus fee waivers for borrowers of 7[a] and 504 Small Business Administration [SBA] loans.

These measures complement recently enacted small-business tax incentives included in the HIRE Act -- such as the new-hire payroll tax exemption, and the extended section 179 small-business expensing provision. The Senate voted 59-38 to extend the provisions that eliminated borrower fees for small businesses looking to grow their companies through May 31, 2010.

"The Recovery Act provisions extended tonight will continue to free up credit for small businesses looking to expand, hire new workers or upgrade equipment," said Sen. Landrieu. "I applaud my colleagues in Congress for recognizing the success of these lending programs, and thank them for their continued support of small businesses across the country. Ranking Member Olympia Snowe [R-Maine] has shown her commitment to true bipartisanship for the good of small businesses still struggling to stay afloat.

"As we continue to support America’s entrepreneurs, we must continue to look at a longer-term extension of these provisions to continue this country’s small-business growth. The Small Business Committee has a package of proposals that have passed the Committee by wide, bipartisan margins, and we will continue to work on their inclusion in the next jobs bill debated by the Senate and urge their swift adoption."

SOURCES: Internal Revenue Service, U.S. Senate Committee on Small Business and Entrepreneurship, U.S. Small Business Administration
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Sen. Landrieu: Economy Improving, But More Help Is Needed for America's Small Businesses

Late yesterday, just hours after the U.S. Department of Labor's Bureau of Labor Statistics announced that approximately 162,000 Americans were put back to work in the month of March, United States Senator Mary L. Landrieu [D-La., pictured], chair of the Senate Committee on Small Business and Entrepreneurship, issued the following statement:

"Last month, approximately 162,000 Americans were put back to work -- a sign that the measures Congress is taking to improve the economic climate are working," said Landrieu. "While I am encouraged by the number of jobs that were created, there is still much work to be done to support the nation's small businesses and those Americans still out of work.

"To build on the successful recovery loan initiatives -- higher guarantees and fee waivers on borrowers of Small Business Administration loans -- I urge my colleagues in the Senate to work to adopt the provisions coming out of the Small Business Committee. With small business accounting for 65 percent of all new jobs, these proposals are aimed at creating jobs and spurring small-business growth, and have passed this Committee with bipartisan support."

Sen. Landrieu has proposed five measures to be included in the next jobs bill to be debated on the Senate floor. The measures include:

* Small Business Job Creation and Access to Capital Act of 2009 [S. 2869]: Raises the cap on small-business loans to increase lending by $5 billion the first year, and refinances commercial real estate debt into long-term, fixed-rate loans -- provisions that are expected to be budget neutral and could create/save 200,000 jobs;

* Small Business Export Enhancement and International Trade Act of 2009 [S.2862]: Boosts small businesses’ exporting potential by improving access to loans, counseling programs and coordination of existing federal export assistance resources, while injecting more than $1 billion in capital for small businesses and saving/creating as many as 50,000 jobs;

* Small Business Contracting Revitalization Act of 2010 [S. 2989]: Removes the red tape and closes loopholes that too often put government work into the hands of multinational corporations instead of Main Street businesses. Increasing contracts to small businesses by just 1 percent can create more than 100,000 jobs;

* Small Business Community Partner Relief Act of 2010 [S. 3165]: Strengthens SBA women’s business and microloan programs to ensure they have the funds and manpower needed to be successful resource partners and help small-business owners get the assistance they need; and

* SBIR/STTR Reauthorization Act of 2009 [S. 1233]: Encourages small businesses to develop new technologies in fields from health care and defense, to clean energy. These competitive grants are the largest source of federal R&D funding for small, high-tech firms. Twenty-percent of SBIR participants say they started their company in part because of a prospective SBIR award, creating thousands of jobs.

This week, Sen. Landrieu sent a letter to her Senate colleagues requesting their support for this legislation. To view a copy of the letter, please go to: http://bit.ly/LandrieuLetterJobsBill.

Detailed information on each proposal can be found here: http://bit.ly/SmallBizJobCreation.

SOURCES: GovTrack.us, U.S. Senate Committee on Small Business & Entrepreneurship
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March 31 @ 7 p.m. EST: HHS, SBA Leaders to Hold Live Q&A Webcast About Health Insurance Reform's Impact on Small Businesses

To help everyone better understand implementation of the new health reform law, the U.S. Department of Health and Human Services [HHS] is holding a live, online Q&A session tomorrow evening, Wednesday, March 31, from 7-7:30 p.m. EST at www.hhs.gov/live. The event features HHS Secretary Kathleen Sebelius [pictured] and U.S. Small Business Administration [SBA] Administrator Karen Mills clarifying the new health insurance reform law's impact on small businesses.

"A lot of people have questions about this comprehensive and complicated legislation," Sebelius wrote in her announcement of the Web Chats. "This will be the first in a series of weekly webcasts and discussions we here at the Department of Health and Human Services will hold with you, the American people, as we work to implement this new law and ensure health security for Americans who have, until the passage of this bill, been paying more and more for health care and getting less and less in return."

To participate in tomorrow's event, e-mail your questions in advance to HealthReform@hhs.gov. Sebelius and Mills will try to get to as many of them as they can during the Web Chat, then answer more via the HealthReform.gov site afterwards.

"Already, I’ve received countless questions from small-business owners about the new law and its benefits," said SBA's Mills. "In fact, this new law offers many tools to help small-business owners access more affordable health insurance options for their employees. These tools include the creation of 50 state exchanges that will allow small-business owners to access affordable health insurance plans for their employees, as well as new tax credits to help pay for this coverage."

"As the President told me recently, we have a solemn responsibility to make sure health reform is implemented carefully and effectively," Sebelius noted. "And we have an equal responsibility to make sure Americans know what changes are coming and how to take advantage of these new benefits...

"Our health insurance system wasn’t broken in a day. And it won’t be fixed in a day either. It’s going to take a lot of work. But the good news is that, after decades of talking about the need for these changes, that work is finally beginning and we want you to be a part of our efforts."

"I know you want to know what’s in health insurance reform for your small business and your employees," Mills added. "I hope you’ll join Secretary Sebelius and me at http://www.healthreform.gov/ tomorrow night, at 7 p.m. EDT to find out what’s in it for you."

To learn more about the key provisions of health reform that immediately take effect, go to: http://bit.ly/KeyProvisions.

SOURCES: HealthReform.gov [photo], U.S. Department of Health and Human Services, U.S. Small Business Administration, White House
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