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The Job Creation through Entrepreneurship Act of 2009 passed in the House of Representatives, today by a vote of 406 to 15. The Act reauthorizes the Entrepreneurial Development programs of the Small Business Administration (SBA).
During his floor statement, Ranking Member Sam Graves said, “These programs have not been reauthorized in a comprehensive way in nearly ten years, and given the changes in the economy, it is long overdue. This week is National Small Business week and it is my hope that this legislation honors our small business owners by giving them the tools they need to succeed.”
Rep. Luetkemeyer said, "As we continue to address the problems plaguing our economy, I am pleased that my first bill assists our small business owners, who are the number one job creators in the country and who will play a pivotal role in restoring our economy.”
The overall bill for greater coordination of entrepreneurial development programs was cosponsored by Rep Luetkemeyer. The changes to these programs include increased coordination and redevelopment of programs to better assist entrepreneurs in the current economic climate, such as requiring the SBA to develop online courses that will educate entrepreneurs about starting and expanding their businesses and to provide businesses with best practices, establishing of new Women’s Business Centers, revised funding formula and improvement to the SCORE program and develops benchmarks for evaluating its performance and improving educational and training resources provided by the SBA to veterans, and expands programs of the SBA’s Office of Native American Affairs.
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Comments
America’s Recovery Capital program seems to be too limited. It will help businesses with non-SBA backed loan debt. What about a businesses that has built their business with little or no debt but could use financing to battle their way through the end of this recession and even create some growth for their company? Why should they be left out?
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We are pleased to see the renewed interest in funding entrepreneurial development programs as reported in your article. However, the real gap is not in funding for these programs, but rather in creating visibility for the more than 12,000 free business development programs across the country that already exist. Use of these programs can significantly help a SMB - and yet, most are not aware that they exist. These programs are cross indexed by type of help and local geography in www.BUZGate.org, a free public resource. Use of these programs can represent a true economic accelerator and yet not require any support through the "Bailout" process. The more we can collectively promote awareness and use of this public resource, the more we can support the economic recovery process - a true 'win-win" for all.
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