WASHINGTON,
D.C. –
Today, Congresswoman Doris Matsui (D-Sacramento)
applauded the
Obama
Administration’s announcement of a $2 billion public-private partnership
to help small businesses gain access to capital and resources so that they may grow, expand, and create
more jobs. The U.S. Small Business Administration (SBA) will launch a $1 billion Early Stage Innovation
Fund to help early-stage small businesses access private capital. Additionally, fifty private-sector
partners have committed to delivering over $1 billion in value to 100,000 small business start-ups over
the next three years, ranging from free consulting and legal services to free software. The Administration
also announced commitments from the Department of Education, the Department of Labor,
the
Network for Teaching Entrepreneurship, Junior Achievement, and the National Association for Community
College Entrepreneurship to improve and expand entrepreneurship education and initiatives.
Below
is Congresswoman Matsui’s statement on this announcement:
“In
roundtable discussions with Sacramento small business owners, I have heard time and again that the biggest
obstacle they are facing as they try to expand is access to private capital. I applaud the Obama Administration
for taking this step to ensure our nation’s small businesses have more support and greater access to
the loans they need.
“Small
businesses are economic engines in Sacramento, comprising nearly 98% of all the businesses in the region.
We rely on small businesses to create jobs, develop innovative products, and provide necessary services
– and our economic vitality hinges on their success. In fact, 64 percent of all new job growth
in this country comes from small businesses.
“As
we continue to face a high unemployment rate in this country, Congress should follow the Administration’s
lead and take up legislation that will help these small businesses innovate and grow. By giving our small
businesses a leg up, we will be able to get our country back to work and ensure America remains a leader
in innovation.”
For
more information on Congresswoman Matsui’s work to increase access to capital for small businesses and
help local companies grow, visit
matsui.house.gov/
smallbusiness
.
To write me, please visit https://forms.house.gov/matsui/webforms/issue_subscribe.htm.
