WASHINGTON, DC – The House Small Business Committee held a hearing today to receive feedback from small businesses around the country on the Small Business Administration’s Entrepreneurial Development programs and their impact on small businesses.  The hearing titled, “The State of SBA’s Entrepreneurial Development Programs and Their Role in Promoting an Economic Recovery,” consisted of testimonies from small businesses that have used the resources offered by the SBA’s programs.

“Small businesses create about two-thirds of net new jobs annually and today the testimonies proved that the development programs through the SBA are responsible for many success stories in small business,” said Ranking Member Graves (MO-R), “We must continue to encourage small businesses to expand by offering them educational development programs, such as the SBDCs (Small Business Development Centers).  Helping our small businesses is the foundation for boosting our economy.” 

According to a 2008 study of Small Business Development Centers, long term clients of SBDCs created a total of approximately $7.2 billion in sales and 73,377 in new full time jobs as a result of the assistance received. In addition, the centers served boosted overall economic growth by generating approximately $2.87 in tax revenues for every $1 spent on the entire program.

In her testimony, Ms. Carol Gregg, President and owner of Flexible Staffing in Chillicothe, MO, said that SBDC has “mentally prepared” her as a business owner.  She attributes SBDC training to her success in her Sedalia, Warrensburg and Kingsville, Missouri offices.  She testified that through meetings with other local businesses, also advised by SBDCs, she can network with her colleagues.”

“During the economic crisis, I can think of no better investment than in entrepreneurial assistance and recession-proof programs to aid our small businesses,” said Ranking Member Graves.

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