Press Releases

Small Business Committee Examines Benefits of 10,000 Small Businesses Program

WASHINGTON – Today, House Small Business Committee Chairman Steve Chabot (R-OH) and Vice-Ranking Member Alma Adams (D-NY) held a roundtable to discuss private sector entrepreneurial development programs, and, specifically, the Goldman Sachs 10,000 Small Businesses initiative. Participants included Goldman Sachs executives, Community Development Financial Institution lenders, and small business owners who have utilized the entrepreneurial development program.

The 10,000 Small Businesses program helps entrepreneurs create jobs and economic opportunity by providing greater access to education, capital, and mentorship. To date, the program has served over 7,700 small business owners across all 50 states.

Today’s roundtable gave the Committee Members a chance to hear from small businesses that have benefitted from their participation in the 10,000 Small Businesses program. This successful private sector initiative is an intensive education and mentorship program that matches educators, business leaders, and lenders to grow small businesses in our communities,” said Chairman Chabot.

While the program itself is helping so many small firms from across our country, we also heard that a confusing tax code and burdensome regulations continue to hold small businesses back. Here on the Committee, we will continue to address these barriers to growth so small firms can continue to do what they do best – innovate and create jobs,” Chairman Chabot added.

Chairman Chabot has introduced legislation, H.R. 3717, the Small Business Owners’ Tax Simplification Act, to create more clarity within the tax code, as well as H.R. 33, the Small Business Regulatory Flexibility Improvements Act, which passed the House as part of H.R. 5, the Regulatory Accountability Act, earlier this Congress.