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Statements

Statement of the Hon. Judy Chu on Native 8(a) Contracting: Emerging Issues

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In the 116th Congress, this Committee has been committed to taking a closer look at the various SBA contracting programs. Earlier this year, we held an oversight hearing on the Women-Owned Small Business Program, followed by a hearing where we discussed the contracting programs that help veterans bridge the gap between military service and entrepreneurship. Most recently, we examined the 8(a) Busi... Read more »

Statement of The Hon. Andy Kim on Can Opportunity Zones Address Concerns in the Small Business Economy?

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America’s small businesses are a catalyst for creating employment opportunities and driving growth in the U.S. economy. The estimated 30 million small firms in the U.S. represent over 99 percent of all employers, and support nearly 56 million jobs. Small businesses are vital to the well-being of many large and small communities, in rural, suburban, and urban areas. That is why we need to be enacti... Read more »

Statement of the Hon. Nydia M. Velázquez on SBA Management Review: SBA IG Report on the Most Serious Management and Performance Challenges Facing the SBA

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Today the Committee is holding an important oversight hearing, during which we will examine the most serious management and performance challenges facing the SBA. We will also discuss the Office of Inspector General’s recommendations for addressing these challenges, as we seek to better understand their underlying causes. The IG is a nonpartisan, independent watchdog tasked with auditing, investig... Read more »

Statement of the Hon. Nydia M. Velázquez on SBA Management Review: Small Business Investment Company Program

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Since 1958, the Small Business Investment Company (SBIC) program has been an integral part of SBA’s mission to provide small businesses with affordable capital and helping them create good-paying jobs. The specific goal of the SBIC program is to fill the gap between the availability of venture capital and the needs of “high-growth potential” small businesses in startup and early-stage situations. ... Read more »

Statement of the Hon. Jason Crow on SBA Programs Spurring Innovation

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One of the keys to long term growth in our economy is to create an environment that encourages innovation. We know that when given the opportunity, small firms have proven that they can lead the way innovating and creating new jobs. Many innovations and businesses that we benefit from today found their start in basements and garages around the country. From 2000 to 2017, small businesses created 8... Read more »

Statement of The Hon. Nydia M. Velázquez on Utilization Management: Barriers to Care and Burdens on Small Medical Practices

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On this committee we are focused on breaking down barriers that many small businesses face. Whether it is ensuring small firms have access to affordable capital or reducing regulatory burdens, our focus on this Committee is to create a thriving Main Street that makes towns and communities across the country better places to live, work, and raise a family. An essential part of any community are the... Read more »

Statement of The Hon. Abby Finkenauer on Growing the Clean Energy Economy

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As the Congresswoman from Iowa’s First Congressional District, I know how important clean energy and renewable fuels are to our economy and our environment. As this sector continues to grow and become a driving force in the global economy, businesses—large and small—are looking to take advantage of these new opportunities. By reducing emissions, supporting renewable energy, and increasing energy e... Read more »

Statement of the Hon. Judy Chu on SBA Management and Oversight of the SCORE Program

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SCORE was first established in 1964 as a national, volunteer nonprofit organization, whose mission is to foster vibrant small business communities through mentoring and education. Over the years, it has grown to one of the largest networks of volunteers, with more than 11,000 expert business advisors at 350 chapters nationwide. SCORE provides free or low-cost mentoring and training to small busine... Read more »

Statement of the Hon. Nydia M. Velázquez on Continuing to Serve: From Military to Entrepreneur

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Every year more than 200,000 of our nation’s heroes make the transition out of our military. Some pursue employment opportunities, others go back to school, or learn a new trade. And some decide to pursue the American dream and launch a small, innovative business. For these returning servicemembers, the Small Business Administration can play a key role to help turn their small business dreams into... Read more »

Statement of The Hon. Nydia M. Velázquez on Crushed by Confessions of Judgment: The Small Business Story

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When I talk to small business owners, one of the first things they mention to me is that access to capital is the lifeblood of their business. Affordable capital fuels new startups and helps existing businesses expand into new markets and grow their customer bases. And we know that when capital is accessible and on fair terms, small businesses can do what they do best---strengthen our communities ... Read more »

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