American - Public | September 14, 1953 -
I think we've learned that the S.B.A. plays a critical role in providing access and opportunity when the market is not providing that access. We help banks get that money out into the hands of important and viable businesses, particularly those owned by minorities, women, immigrants and veterans.
Karen Mills
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We've gotten tremendous support. Everybody now understands how critical it is to help small businesses get out of this recession and into recovery.
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Among our responsibilities is to make sure that 23 percent of all government contracts go to small businesses. That's about $150 billion annually, from all the government agencies.
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As you probably know, half of the people who work in this country work for small businesses. And it's more than that, because two out of every three net new jobs come from small business. So we mean it when we talk about small business being the engine for the economy.
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It's not government that creates jobs; it's small business. Our job is to make sure they have the access to capital, the access to contracting opportunities, and the help, advice and mentoring that they need to go out and be successful.
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This is not a zero-sum game. We know that if we provide access and education, particularly where there are gaps in the market, we will create more jobs, we will create more growth, and we will create more activity in the U.S. market, which will be good for our economy.
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Small businesses want things streamlined, and one of the great successes we're having is less paperwork, faster turnaround times.
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Small businesses pay 18 percent more than big businesses for health care, the same health care, just because they're small and they have too small a pool of risk.
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I recently had the opportunity to participate in Inc.'s first-ever 'Hire Power Awards' event in Washington, D.C. The event was a testament to the power of American entrepreneurship and the role that it plays in driving job creation and innovation in a wide array of industries.
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One of the most important tools we have at the Small Business Administration (SBA) to reach high growth entrepreneurs is the Small Business Investment Company (SBIC) program.
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Small businesses are really the engine in the economy.
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We are not going to be the agency where large businesses can masquerade as a small business and get a contract. We are closing down on fraud, waste and abuse.
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