Congresswoman Maxine Waters, Ranking Member of the House Financial Services Committee, released the following statement honoring local small businesses as part of the 50th Annual National Small Business Week, which was declared by President Obama to be the week of June 16-22, 2013. National Small Business Week was first recognized fifty years ago by President John F. Kennedy in 1963.
"Today, I celebrate American small businesses, especially those within California's 43rd District. I have long been a strong supporter of both small and start-up businesses, which are the main engines of job creation in our country.
"With more than half of Americans either owning or working for a small business, it is critical that Congress work on behalf of small businesses to assist them in their effort to expand and grow. First and foremost, we must take action on the automatic cross-the-board spending cuts known as the sequester, which has been in effect since March 1. Under GOP sequestration, small businesses are estimated to lose access to more than $900 million in loans that could negatively impact both families and small businesses.
"As an advocate for small business owners in the 43rd Congressional District, I was pleased to host a small business expo for women-owned businesses in March and an export-import forum held in conjunction with the Export-Import Bank in May. These events were designed to help the local businesses of my district gain a competitive edge when exporting their products overseas, improve their access to capital and make use of every resource available to them as they grow our economy.
"During this 50th Annual Small Business Week, I thank small businesses both in California and across the nation, which form the backbone of our society -- opening new storefronts, hiring our neighbors, and manufacturing and selling goods to keep our communities thriving. In Congress, I will continue to work so that anyone with an enterprising idea and the willingness to work hard has the resources to bring that idea to life."