U.S. Sen. Lisa Murkowski, R-Alaska, today released the following statement regarding the Small Business Administration's (SBA) comprehensive revision to its regulations governing the 8(a) business development program:
"The SBA's revision of its regulations governing the 8(a) Business Development program, the first significant revision of these rules in a decade, is thoughtful and comprehensive. It bears noting that the final rule characterizes the 8(a) program as "a much-needed and beneficial program,' adding that "the tribal and Alaska Native Corporation component of the program serves a valuable economic and community development purpose in addition to its business development purpose.'
"The regulations make great strides to ensure that 8(a) businesses are not further victimized by unscrupulous business partners and advisors, that 8(a) businesses perform a significant portion of the contracted work and that benefits to Native Corporation shareholders and tribal members are chronicled and tracked. I agree with the Small Business Administration's conclusion that the Alaska Native Corporation component of the program serves the public interest. The Small Business Administration's mission is to help 8(a) participants succeed in business, and I look forward to working with the SBA on additional steps that can be taken to ensure that the 8(a) program is mutually beneficial to the government and to the 8(a) participants."