SBA Entrepreneurial Development Programs Act Of 2007

Floor Speech

SBA ENTREPRENEURIAL DEVELOPMENT PROGRAMS ACT OF 2007 -- (House of Representatives - June 18, 2007)

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Ms. VELÁZQUEZ. Mr. Speaker, I yield myself as much time as I may consume.

Mr. Speaker, small businesses play a critical role in our economy. As the leading job creators and generators of nearly half of private sector gross domestic product, their impact is felt throughout the country.

Today, entrepreneurs are confronted with intense competition from foreign and corporate counterparts. They must continually update their products and processes, as well as adapt to change quickly.

Traditionally, the SBA's entrepreneurial development programs were created to provide direction and assistance to small business owners, helping them remain competitive and armed with the tools to maintain successful ventures. While providing critical assistance, these programs were created many years ago to address general business development issues faced by typical small businesses of the time.

There is no question the needs of entrepreneurs change as the environment does. The challenges facing entrepreneurs today are different from those even 5 years ago. SBA's entrepreneurial development programs must evolve to provide small businesses with the ability to deal with the economic conditions of today.

The Small Business Entrepreneurial Development Programs Act of 2007 introduced by Congressman Sestak not only modernizes this program to adjust the current concerns of small businesses but also enhances them. Today, the leading issues for small firms are the rising health and energy costs and complying with regulations. This legislation will help small business owners identify and secure affordable health care. With less than half of small business owners providing health care, the need for legislation that helps alleviate this is clear.

Considering the current price of gasoline, there's no question why the number one concern for entrepreneurs is the cost of energy. Gasoline is more than $3 a gallon. This price represents a 28 percent increase over a period of just 2 months ago and a 52 percent increase since the end of January. Due to small businesses' limited resources, as production costs are driven up, they become less competitive with their counterparts.

While the costs of energy and health care have risen, so has the regulatory burden for small businesses. In 2006, just seven major rules added over $3.7 billion to the overall regulatory costs. That does not even account for the thousands of other regulations that were added last year. Small firms today require affordable access to information and counseling to address these new rules.

H.R. 2359, with its increased capacities, ensures that the SBDCs located in communities across the Nation have the ability to assist entrepreneurs in facing these challenges. For this reason, the SBA Entrepreneurial Development Act of 2007 has the support of the National Federation of Independent Businesses. They are not only supporting but will key vote this legislation. By tailoring SBA's economic development programs to the economic demands and changing composition of small businesses, they will better promote business development this our communities.

H.R. 2359 will make sure small firms remain a driving force in our economy. I urge support of this legislation.

Mr. Speaker, I reserve the balance of my time.

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Ms. VELÁZQUEZ. Mr. Speaker, I yield myself the balance of my time.

Today's entrepreneurs are facing countless challenges. SBA's entrepreneurial development programs must be modernized to provide small businesses with the ability to deal with the economic conditions of today.

Mr. Sestak's legislation, the SBA Entreprenurial Development Programs Act of 2007, makes much-needed updates to the agency's programs so that they are better able to assist entrepreneurs and enable small firms to remain a driving force in our economy.

H.R. 2359 has the support of the NFIB, who, in addition to supporting it, has made it one of their key votes for the 110th Congress.

Again I want to thank Mr. Sestak and also Mr. Chabot, the ranking minority member, for working in a bipartisan manner to move this legislation and other bills that will be moved today. I want to thank the staff that worked on this bill. From the majority staff, Michael Day, Adam Minehardt, Nicole Witenstein; from Representative Sestak's staff, Clarence Tong; and from the minority staff, Barry Pineles.

I strongly urge my colleagues to vote for H.R. 2359.

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