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Contact: DJ Jordan, Joel Hannahs 202-225-5821

Graves Announces Hearing on State of the Small Business Economy

Washington D.C., Feb 7 -

On Wednesday, February 13, House Small Business Committee Chairman Sam Graves (R-MO) will hold a hearing titled, “State of the Small Business Economy.” The hearing will analyze the health of the small business community, including an examination of access to capital and other economic concerns facing small business owners.

“Small businesses lead the United States economy and private sector job growth,” said Chairman Graves. “Therefore, it is imperative that Washington addresses the top barriers to growth that small companies face. Most of the feedback we’ve heard from small businesses is consistent with this month’s discouraging economic data and small business surveys. Under this Administration, small business owners are not confident about the economic environment because of inconsistent access to capital, the wave of federal regulations, including those from the health care law, and a growing federal debt.”

According to the Small Business Administration Office of Advocacy, small businesses represent 99.7 percent of all businesses having employees in the United States. Small businesses employ about half of all private sector employees in the United States and account for about 60-70 percent of new jobs.  Given this impact, it is important to pay special attention to this segment to ensure that government policy takes into consideration the needs of small business when setting fiscal policy and developing rules and regulations, particularly since small businesses face regulatory compliance costs 36 percent higher than larger businesses.  

The Committee will receive testimony from Dr. Randall Kroszner, Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business, Chicago, Illinois; Ms. Maria C. Coyne, Executive Vice President of Key Bank in Cleveland, Ohio; Mr. Sean Falk, Owner/President of WolFTeaM LLC/Nachogang LLC in Cedar Park, Texas; and Margot Dorfman, Chief Executive Officer of the US Women's Chamber of Commerce, Washington, D.C.
                                        
Materials for the hearing are posted on the House Small Business Committee’s website HERE.

WHAT: Small Business Committee hearing titled, State of the Small Business Economy

WHEN: Wednesday, February 13, 2013, 1:00 p.m. EST

WHERE: 2360 Rayburn House Office Building