Educating Entrepreneurs Through Today's Technology Act

Floor Speech

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

I rise in support of this bill which will help entrepreneurs grow their businesses through the expanded use of cutting-edge technology. This bill is a bipartisan product introduced by Representative Thompson from Pennsylvania and promises to go a long way in helping small firms flourish. Entrepreneurship is the tested tool for powering economies. So it should come as no surprise that entrepreneurial development, or ED, programs, have a track record for sparking growth. In fact, every $1 put into these initiatives puts another $2.87 into the Treasury. You cannot argue with that kind of return, especially at a time when our economy is fighting to recover.

While small business growth is important to any community, it is especially vital in struggling rural regions and urban areas. When recession hits, these areas fall the hardest. That is why this bill is so important. Through the use of cutting-edge technology, it delivers entrepreneurial development training to Americans everywhere. In doing so, it encourages business growth in places where it might not otherwise take root.

This is critical because entrepreneurship is more than a means of employment. It is a path to economic independence. Technology is often referred to as the great equalizer. It is an avenue through which all businesses, large and small, can attract new customers and reach untapped markets. It is also an effective means for delivering information and sharing data.

The Educating Entrepreneurs through Today's Technology Act builds on those two capabilities. With the click of a mouse, an aspiring entrepreneur in Appalachia can participate in a training program broadcast out of San Francisco. Resources such as satellite seminars and online information sessions make it easy for entrepreneurs everywhere to access information on a broad range of topics. Starting and running a small business can be challenging. In the current environment, even seasoned entrepreneurs are struggling to adapt. Proper training in areas like credit management, financial literacy and Federal small business programs are more important than ever. Whether we are talking about fledgling entrepreneurs or those with years of experience, everyone can benefit from this kind of information.

There is no question that our economy looks different today than it did the last time SBA's ED programs were updated. In terms of technology alone, we have grown by leaps and bounds. This bill reflects that change. It makes sure small firms can use modern technology to the best of their advantage. With these services, startups will be able to build a solid business foundation. Meanwhile, established firms will be able to retool and improve their existing operations.

As we continue to work our way towards recovery, small businesses will be on the front lines. It only makes sense to give them all the tools they need to succeed because with the technology of today they can help build prosperity for tomorrow. Mr. Thompson's bill gives them the resources to do so.

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

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