Last week Anita Campbell let us know about what happened at National Small Business Week and the Small Business Administration’s focus on the “3 C’s”: capital, contracts and counseling. There was so much said about the first “C”, capital, I thought it was worth a deeper look.
In her kickoff address SBA Administrator Karen Mills brought us up to date on the results from last year’s American Recovery and Reinvestment Act (ARRA) which to date has lent $27 billion to small businesses. But as Mills said, “There’s more work to do.”
To that end, President Obama encouraged Congress to pass the Small Business Lending Fund Act. The House financial services committee has already approved parts of the bill and it will soon go before the full House and the Senate. Mills called the Act a “small business jobs plan.”
"WHERE IS THE BEEF" FOR INNOVATIVE AND ENTREPRENEURIAL SMALL BUSINESSES? THIS PLAN DOES NOTHING FOR THE EARLY STAGE , TECHNOLOGY BUSINESSES THAT HAVE NO ASSETS AND THE LEADERS CANNOT GIVE PERSONAL GUARANTEES. WE STILL HAVE A "VALLEY OF DEATH" WHICH HAS NOT BEEN RECOGNIZED BY THIS ADMINISTRATION, WHICH RELATES TO THOSE FIRMS WHICH NEED EQUITY CAPITAL AND THE ANGELS, VC'S AND STATE TECHNOLOGY BASED ECONOMIC DEVELOPMENT PROGRAMS, IN SOME CASES, CAN'T , WON'T OR DO NOT HAVE THE RESOURCES TO INVEST.IN ADDITION CONGRESS CANNOT REACH AGREEMENT ON THE REAUTHORITIZATION OF THE SBIR PROGRAM, WHICH IS GLOBALLY THE MOST INNOVATIVE, EARLY STAGE FINANCING PROGRAM THAT EXISTS.
PLEASE PRESIDENT OBAMA, LETS DO SOMETHING TO PROTECT , SUPPORT AND GROW ONE OF THE MOST IMPORTANT SEGMENTS OF THE U.S. ECONOMY, "HIGH GROWTH, INNOVATIVE, SMALL BUSINESS ENTREPRENEURS"! ........
COMMENT BY RICH BENDIS,PRESIDENT AND CEO OF INNOVATION AMERICA
To read the full, original article click on this link: President Obama Creates a Small Business Jobs Plan | Small Business Trends
Author: Rieva Lesonsky
