Access to Capital
Capital is the lifeblood of any businesses, but especially small businesses. Without adequate financing, through microloans, commercial lending, or investment capital, most entrepreneurs cannot start new businesses or grow their existing companies. Because access to capital is so critical for small business success, the Committee on Small Business and Entrepreneurship works to ensure that entrepreneurs are able to secure the financing they need.
Contracting and Procurement
The Senate Committee on Small Business and Entrepreneurship has long promoted small business participation in the federal contracting arena. Small businesses are our nation’s most dynamic job generators and provide the benefits of competition, including lower prices, better services and products, to the federal government, the largest purchaser of goods and services in the world. In fact, the U.S. government procures around $500 billion annually in products and services.
The Senate Committee on Small Business and Entrepreneurship oversees the Small Business Administration’s (SBA) Disaster Loan Program. Specifically, the SBA provides financial assistance through this program to help homeowners, renters, non-profit organizations, and businesses of all sizes recover from disasters. In 2005 and 2006, the SBA faced unprecedented demands for its disaster loan assistance services in the wake of Hurricanes Katrina, Rita, and Wilma. The inefficiencies of the Disaster Loan Program received national attention and led to Congressional action by the Senate Committee on Small Business and Entrepreneurship.
Entrepreneurial Development Programs
Innovation, Energy, and Manufacturing
Small Business Administration Budget and Operation
Small Business Trade and Exporting
It is crucial that small businesses get the promised benefits of our international trade relationships and are able to compete in the world economy. While globalization has created opportunities for small businesses to sell their goods and services in new markets, not enough small businesses are taking advantage of these international opportunities.