[Congressional Record Volume 148, Number 57 (Wednesday, May 8, 2002)]
[Extensions of Remarks]
[Page E742]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      NATIONAL SMALL BUSINESS WEEK

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                       HON. JANICE D. SCHAKOWSKY

                              of illinois

                    in the house of representatives

                         Wednesday, May 8, 2002

  Ms. SCHAKOWSKY. Mr. Speaker, I rise today to celebrate National Small 
Business Week. Small businesses have contributed and continue to 
contribute to our nation's economy. They are anchors in our 
neighborhoods, and employ and train millions of workers every year. 
Small businesses account for half of our gross domestic product, and I 
am committed to ensuring that small business owners and workers have 
the resources and protections necessary to grow and thrive.
  There are approximately 25 million small businesses in the United 
States and they account for 75 percent of all new jobs added to the 
economy and represent 99.7 percent of all employers. There are over 
280,000 employer businesses in the state of Illinois, and over 97 
percent of them are small businesses, with fewer than 500 employees. 
Currently, there are an estimated 6.2 million women-owned businesses, 
accounting for 28 percent of all privately held firms. These firms 
generate $1.15 trillion in sales and employ 9.2 million workers. Also, 
minority-owned businesses have quadrupled over the last decade. 
Minorities now own 15 percent of American businesses and 99 percent of 
these firms are small businesses. But the sad truth is that not enough 
is being done to provide these businesses with the opportunities needed 
to survive and compete in today's market.
  I recently toured several business areas in my district and met with 
business owners in Morton Grove, Illinois. I also met with several 
business groups, such as the Gladstone Park Chamber of Commerce. I was 
proud to see small businesses thriving in the community. The main 
source of help for these businesses is the Small Business 
Administration. The SBA has a portfolio of business loans, loan 
guarantees, disaster loans and venture capital worth more than $58 
billion, and I will work hard to provide the necessary financial and 
technological support that will allow the SBA to do its job in an 
efficient and effective manner. I am working in Congress to improve a 
number of programs and services that the Small Business Administration 
provides which will give important resources to small businesses in my 
district and across this nation.

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