[Congressional Record Volume 146, Number 30 (Thursday, March 16, 2000)]
[Extensions of Remarks]
[Pages E344-E345]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               SMALL BUSINESS REAUTHORIZATION ACT OF 2000

                                 ______
                                 

                               speech of

                         HON. ROBERT A. WEYGAND

                            of rhode island

                    in the house of representatives

                       Wednesday, March 15, 2000

       The House in Committee of the Whole House on the State of 
     the Union had under

[[Page E345]]

     consideration the bill (H.R. 3843) to reauthorize programs to 
     assist small business concerns and for other purposes:

  Mr. WEYGAND. Mr. Chairman, I rise today to express my support for the 
reauthorization of the Small Business Administration, which has 
provided essential assistance and guidance to our nation's 
entrepreneurs since its creation in 1953. Though the agency was 
originally intended as a temporary response to address the economic 
concerns of the postwar economy, it has grown significantly and has 
helped small businesses become a driving force in our nation's economy.
  Small businesses play an integral role in sustaining our Nation's 
economic strength. Innovative, flexible, and resilient, independent 
businesses have had a significant impact on all sectors of industry, 
from service to high-technology. Enterprises with fewer than 500 
workers employ 52 percent of the Nation's private sector workforce, 
produce 51 percent of private sector output, represent 96 percent of 
exporters of goods, and produce virtually all new jobs in our changing 
economy. The small firm embodies the American ideals of independence, 
innovation and adaptability, which is one reason why the small business 
thrives in the United States.
  Not only have small businesses had a positive impact on our economy, 
they also undertake significant responsibilities in communities. The 
1996 changes to the Nation's welfare system emphasized the transition 
from government assistance to the work force, and small firms have been 
instrumental in providing employment to former welfare recipients. By 
doing so, workers learn new skills in a small, manageable atmosphere 
and can become productive members of a business team. Furthermore, 
small businesses cooperate with local government, schools, and other 
organizations to cement the bonds of a strong community. Whether 
sponsoring a little league team or donating computers to an elementary 
school, the small business is an anchor of any town or city.
  As a former small business owner, I know firsthand the challenges 
faced by our Nation's entrepreneurs. Embarking on a new venture is a 
period of excitement for entrepreneurs, though the task ahead appears 
daunting and formidable. Not only must a small business owner consider 
the financial implications of an endeavor, he or she must also master 
the Federal and State regulations pertaining to business owners. 
Luckily, the Small Business Administration is available to provide 
financial assistance and legal expertise to entrepreneurs. In fiscal 
year 1999, the SBA provided $10.1 billion in loans to small businesses, 
with almost $108 million in loans to businesses in my State of Rhode 
Island. Furthermore, the SBA excels at providing continued assistance 
to firms, sharing information about new technologies, trade and export 
opportunities, and pertinent federal laws and regulations. I applaud 
the SBA for its commitment to fostering creativity and entrepreneurship 
in the United States, as well as its assistance to small businesses in 
meeting the new challenges of our Nation's changing economy.
  Today we have the opportunity to enact legislation to reauthorize the 
Small Business Administration and its programs through fiscal year 
2003. Given all of the substantial benefits this organization has 
provided in its 47-year history, I strongly believe that we must give 
this agency the opportunity to continue its mission for the next 3 
years. I urge my colleagues to join me today in giving our nation's 
entrepreneurs the tools and resources needed to pursue their personal 
dreams. I urge them to vote in favor of SBA reauthorization.

                          ____________________