House Small Business Committee Chairman Sam Graves (R-MO) today issued the following statement on the bipartisan Senate-amended Jumpstart Our Business Startups (JOBS) Act of 2012:
“This JOBS Act is further proof that both parties can work together to accomplish some good for this nation and our small businesses. Access to capital continues to be a significant challenge for entrepreneurs and small firms who want to start or grow their business, and this bill helps to provide solutions to that problem. As Washington considers ways to expedite our economic recovery, we must remember that small business growth is the key to addressing our unemployment problem, and the data supports this. Small businesses outperformed large companies in net job creation nearly three out of four times in the last nearly two decades, according to the SBA Office of Advocacy's Small Business Economy 2011 report.
“Since 2007, we've seen a 23 percent drop in new business creation, according to the Bureau of Labor Statistics, and October’s annual World Bank's Doing Business report found that the United States fell to No. 13 for ease of starting a business, down from No. 3 in 2007. The JOBS Act helps address this by increasing opportunities for capital formation and easing the pathway for high-growth companies to go public.”