Graves Examines the Current State of Entrepreneurship

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Washington, Mar 21, 2012 | DJ Jordan, Wendy Knox (202.225.5821) | comments

“Entrepreneurship is a cornerstone of the American dream.”

WASHINGTON, DC— House Small Business Committee Chairman Sam Graves (R-MO) today held a full Committee hearing to examine the current state of entrepreneurship and the risks, rewards and challenges of building a company. The hearing also addressed creative financing for startups, and the important role of startups in job creation and economic growth.

Witnesses included Heath Hall, President of 
Pork Barrel BBQ and a recent contestant on the ABC reality show “Shark Tank”; and Seth Goldman, President and TeaEO of Honest Tea.

“How many more Americans would be willing to act on their ideas if they knew the policies coming from Washington would help instead of hinder them?” said Graves. “Funding is the primary obstacle cited most often by new entrepreneurs, but when you add federal regulations and requirements that take away more time and capital, it is no wonder that many ideas are never acted upon or owners are forced to call it quits early on.

“Entrepreneurship is a cornerstone of the American dream— having the freedom to take risks in order to chase your dreams and hopefully become successful and prosperous. The federal government should be encouraging this ingenuity which leads to job creation and economic growth, instead of impeding with more bureaucratic red tape.”

For related hearing documents,
click here.

Notable Witness Quotes:

Seth Goldman, President and TeaEO of Honest Tea in Bethesda, MD, said, “The best thing I can say about the government is that it didn’t get in the way of our business… In terms of supporting the development of more companies like ours, I would say the best policy is to let entrepreneurs and investors continue to take well-informed risks.”

Heath Hall, President of Pork Barrel BBQ in Washington, DC, said, “Elected officials should keep in mind the sacrifices and risks entrepreneurs take when considering ways to increase the number of successful small businesses in America. Entrepreneurs hope to make a lot of money by providing something of value and provide a lot of people with jobs that allow them to take care of their families in the years to come. But, it is the entrepreneur who has taken all the risk and invests his or her time and money into their endeavors with no guarantee of return. If small businesses are not allowed to enjoy the benefit of success when it happens, they will never take the risk of failure.”

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