Hearing of the Contracting and Workforce Subcommittee of the House Small Business Committee - Opening Statement of Rep. Knight, Hearing on SBA's Entrepreneurial Development Programs: Resources to Assist Small Businesses

Hearing

Good morning. Thank you all for being with us today. I call this hearing to order.

Entrepreneurship in our nation is truly an aspect of the American Dream. It is about hard work, long hours, and sacrifices all in the name of creating the newest product, the newest service or the next great American company.

The risks are high, but the rewards can be even greater.

From the startup company in my home district in California to the entrepreneurs and innovators all over the country, small businesses employ approximately half of all workers in the United States.

When startups are creating jobs and growing, so does the United States the economy.

However, the nation experienced a downturn after the financial crisis in the late 2000s and we are only now beginning to see a recovery materialize.

Unfortunately, despite recent business optimism, the challenges and obstacles confronting entrepreneurs are daunting.

Instead of focusing their time and energy on growing their endeavors and creating jobs, small businesses are faced with a reality filled with rules, regulations, and a constrained lending environment.

Recent reports identify health care costs, regulatory compliance and a burdensome tax code as the top hurdles impacting the nation's small businesses.

Frequently short on time and wearing many hats within these new start-ups, entrepreneurs need guidance and assistance.

This hearing today is about exploring the resources available to entrepreneurs, startups and small businesses as they navigate a complex business ecosystem.

We will hear about the technical assistance and expert advice available to them through the Small Business Administration's Entrepreneurial Development programs.

With approximately 29 million small business in the United States, the programs within the SBA must operate efficiently and swiftly as the entrepreneurs they seek to help.

I am looking forward to hearing about the details of these programs. How do they help entrepreneurs? How do they assist startups traversing the regulatory environment? How can the programs be improved to better assist small businesses?

I appreciate all of the witnesses for being here today. I look forward to your testimony.

I now yield to Ranking Member Murphy for her opening remarks.

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