[Congressional Record Volume 151, Number 51 (Monday, April 25, 2005)]
[Senate]
[Pages S4160-S4162]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      NATIONAL SMALL BUSINESS WEEK

  Mr. INHOFE. Mr. President, I ask unanimous consent the Senate now 
proceed to the consideration of S. Res. 120, which was submitted today.
  The PRESIDENT pro tempore. The clerk will report the resolution by 
title.
  The assistant legislative clerk read as follows:

       A resolution (S. Res. 120) honoring small businesses during 
     the Small Business Administration's National Small Business 
     Week, the week beginning April 24, 2005.

  There being no objection, the Senate proceeded to consider the 
resolution.
  Ms. SNOWE. Mr. President, I rise today in support of a Senate 
resolution that honors our Nation's 25 million small businesses and the 
tremendous contributions they make to our economy, as we celebrate the 
Small Business Administration's--SBA--National Small Business Week 
which runs April 24 through April 30, 2005.
  Small businesses form a solid economic foundation for growth and job 
creation. The success of our Nation's small businesses have helped 
create nearly three-quarters of all new jobs and produce 50 percent of 
our country's gross domestic product.
  Since becoming Chair of the Senate Committee on Small Business and 
Entrepreneurship, I have made it one of my top priorities to be a 
megaphone for small businesses and help raise the needs and concerns of 
our countries' job creators in the Senate. Each year, there are 3 to 4 
million new business startups--and one in 25 adult Americans take the 
steps to start a business. With one quarter of existing small business 
owners intending to form another business, this is clearly a sector 
that deserves our accolades and recognition.
  And of course, one of our most valuable assets for ensuring the 
success of small businesses is the Small Business Administration. This 
agency is pivotal in overseeing the delivery of financial and business 
development tools for millions of aspiring entrepreneurs and existing 
small businesses across the United States. And since 1999, the SBA's 
programs have helped created and retain over 4.5 million jobs.
  Particularly, the SBA's financing programs have been a crucial source 
to accessing capital for small businesses, and have never been more in 
demand with both the 7(a) program and 504 program delivering measurable 
results. The numbers from fiscal year 2004 represent these programs 
indisputable success, with the 7(a) program providing over $13.5 
billion in loans to help small businesses create 132,603 new jobs. The 
504 program lent $4 billion to support the creation of 86,847 jobs.
  Furthermore, the SBA's entrepreneurial development programs assisted 
almost 1.5 million startup and existing small businesses. In fact, the 
Small Business Development Center--SBDC--program served over 725,000 
clients and helped create or retain over 168,000 jobs in fiscal year 
2003, while the SBA's Women's Business Center's training and counseling 
helped to create or retain over 6,500 jobs in fiscal year 2003.
  We have also provided small businesses with tax relief to help grow 
their business. For example, I championed an increase in the amount a 
small business can deduct when they invest in equipment and other 
business assets capital that fuels expansion and job creation.
  So as we celebrate our Nation's small businesses, we must be mindful 
of Congress's responsibility to ensure that each business has the 
opportunity to flourish. With the BA's budget drastically declining by 
36 percent over the last 5 years, I will not hesitate to take action 
and ensure that this vital sector continues to have the valuable 
resources they deserve.
  The SBA has been a critical partner to millions of small enterprises 
as well as aspiring entrepreneurs as they embark on the path to 
prosperity and job creation. The least we can do is strengthen, not 
erode, the SBA's core loan and technical assistance programs that have 
proven time and again to be the keystone in aiding the efforts and 
dreams of America's entrepreneurs.
  Today we celebrate our Nation's entrepreneurs and honor America's 
small businesses. I urge my colleagues to show their support for the 
small businesses in their States and support this resolution. We must 
remember that the investment and support that we provide to our small 
business today is integral to our Nation's economic and job security 
tomorrow.
  Mr. KERRY. Mr. President, I rise today to honor America's single 
greatest economic resource: our small businesses. Small businesses 
drive our economy, making up 99 percent of all firms, and today marks 
the first day of the annual National Small Business Week celebration. 
This week, we honor the firms that are working year round to provide 
goods and services to us all. Every day, small businesses and 
entrepreneurs are making innovations, creating new jobs, and pushing 
our economy forward. In fact, more than 50 percent of our Nation's GDP 
and more than two-thirds of all new jobs in our economy are 
attributable to small businesses. From the high-tech startup and the 
small manufacturer to the family-owned bookstore and the lemonade stand 
run by the little girl down the street, small businesses and 
entrepreneurs are an exciting part of our communities. And the 
opportunities they create represent the American Dream.

[[Page S4161]]

  Given the importance of small businesses to our economy, it is only 
logical that there would be a Federal agency dedicated to promoting and 
protecting their interests. The Small Business Administration, which I 
am sure my colleagues are well aware of, serves as an indispensable 
small business advocate and resource within the Federal Government. 
With offices and strategic resource partners across the country, the 
SBA is able to serve entrepreneurs at the local level by providing 
training, mentorship, and valuable resources and at the national level 
by encouraging agencies to extend contracts to small businesses and to 
develop small-business friendly regulations.
  The SBA offers a number of programs designed to help small businesses 
overcome obstacles to success. I am proud to support these programs, 
which tackle issues ranging from entrepreneurial development and access 
to capital to Federal contracting and trade assistance.
  Without these SBA resources, thousands of small businesses would not 
have grown, survived tough times, or even been created. Once small 
businesses such as Staples, Intel, Nike, America Online, Black 
Enterprise Magazine, Eskimo Joe's, Callaway Golf, FedEx, Hewlett-
Packard, Jenny Craig, Gymboree, Ben & Jerry's, Winnebago, Sun 
Microsystems, and Outback Steakhouse all received assistance through at 
least one of the SBA's programs. These businesses started out small but 
are now household names. They prove that their owners had excellent 
business ideas even though traditional lenders or venture capitalists 
would not take a chance on them. The SBA gave these once small 
businesses an opportunity to grow, helping them to get their foot in 
the door and eventually bring new products to markets across the 
country and the world. The long-term gains that our economy experiences 
from helping these companies are too numerous to list entirely, but 
they include thousands of jobs, a stronger economy, increased 
opportunities and millions in additional tax revenue, which has paid 
for the SBA's budget many times over.
  While helping them grow is a part of SBA's mission, many small 
businesses are not looking to become large corporations, and these too 
need SBA's assistance and support. Every small business is important. 
Our neighborhoods could not function and would not be the same without 
the local dry cleaner, the corner market, the day care provider, the 
hardware store, the car mechanic, the restaurant, and countless other 
small businesses. Whether family-owned or a franchise, an S Corp or a 
sole-proprietor, fast-growing or home-based, all small businesses 
contribute greatly to our economy. And for decades, the SBA has been 
there to help.
  According to SBA Administrator Hector Barreto's recent testimony 
before the Senate Small Business and Entrepreneurship Committee, the 
SBA backed a record $21.3 billion in loans and related financing to 
small businesses last year. Of that money, nearly one-third of it went 
to businesses owned by women or minorities. The SBA's major technical 
assistance programs reached a record number of clients last year, and 
the procurement assistance programs aided more than 37,000 small 
businesses. These impressive figures demonstrate that the 
entrepreneurial sector of our economy is alive and flourishing, in part 
because of the SBA. It is up to us, in the Federal Government, to 
ensure that this entrepreneurial spirit continues to thrive.
  This week, in honor of National Small Business Week, the SBA is 
hosting SBA Expo '05, which serves to highlight the year's greatest 
achievers and small business advocates. I am proud to join Senator 
Snowe and several other members of Congress as an honorary cochair of 
this event, where the SBA will also honor the National Small Business 
Person of the Year and State winners, including Massachusetts' own Fred 
Curtis, Jr. of Curtis Tractor Cab. Mr. Curtis has worked tirelessly to 
expand his company, growing from 21 employees in 1988 to 221 employees 
last year. Demonstrating the value that a small investment can give, 
Curtis Tractor Cab has grown more than 700 percent since receiving an 
SBA 504 loan from the Worcester Business Development Corp. I thank Mr. 
Curtis for his important contributions to the Worcester area. I know I 
speak for the small business community in Massachusetts when I say we 
are very proud to have an entrepreneur like Mr. Curtis representing our 
State with this award.
  I also commend all of the SBA award winners this week. Their 
contributions to their States, communities, and our national economy 
are immense. In addition, I specifically congratulate Steven Stultz, 
the National 2005 Financial Services Champion of the Year. Much of what 
the SBA does involves access to capital, and Mr. Stultz has been a 
ubiquitous leader for the greater lending community. He is an active 
member of the National Association of Development Companies--NADCO--
sits on the Board of Directors for CDC Small Business Finance, and is 
in his second year of a 3-year term as chairman of the National 
Association of Government Guaranteed Lenders--NAGGL. Mr. Stultz's 
dedication and leadership have propelled the 7(a) and 504 loan programs 
into powerful economic development tools. He has worked closely with 
Congress, particularly with the Senate Committee on Small Business and 
Entrepreneurship, to make necessary and thoughtful changes to the SBA's 
several loan program. I am thankful and supportive of his tireless 
advocacy and work to make access to capital easier for small businesses 
nationwide.
  As a tribute to the SBA and the 25 million small businesses in the 
Nation, Senator Olympia J. Snowe and I support S. Res 120, to honor 
their impact on our Nation and our economy. As the resolution 
indicates, the SBA has assisted more than 20 million entrepreneurs 
throughout its history. However, despite the agency's noble mission, 
its assistance to small businesses is being threatened by this 
administration, which has cut funding to the SBA by 36 percent since 
2001--more than any other Federal agency. One can only imagine how much 
more the SBA could have done for small businesses this year with just 
the same funding it received in 2001. We may never know the true cost 
these cuts have had on the future growth of our economy. How many 
Intels were passed up for funding, how many rural businesses weren't 
able to get management assistance, and how many jobs weren't created?
  Small businesses give entrepreneurs the opportunity to pursue their 
passion, they give parents the opportunity to stay at home with kids 
while supplementing the household income, they give people the 
opportunity to be their own bosses, they empower women and minorities, 
and they spark innovation. Small businesses are vital to the success of 
our country and our economy, and we must do everything in our power to 
ensure our small businesses and entrepreneurs have the greatest 
resources in the world.
  Mr. INHOFE. I ask unanimous consent the resolution be agreed to, the 
preamble be agreed to, and the motion to reconsider be laid on the 
table.
  The resolution (S. Res. 120) was agreed to.
  The preamble was agreed to.
  The resolution, with its preamble, reads as follows:

                              S. Res. 120

       Whereas America's 25,000,000 small businesses have fueled 
     the Nation's economy, creating more than \3/4\ of all new 
     jobs and accounting for more than 50 percent of the Nation's 
     gross domestic product;
       Whereas small businesses are the Nation's innovators, 
     advancing technology and fueling the economic growth and 
     productivity;
       Whereas the Small Business Administration has been a 
     critical partner in the success of the Nation's small 
     businesses and these businesses' continued economic growth;
       Whereas the mission of the Small Business Administration is 
     to maintain and strengthen the Nation's economy by aiding, 
     counseling, assisting, and protecting the interests of small 
     businesses and by helping families and small businesses 
     recover from natural disasters;
       Whereas the Small Business Administration has helped small 
     businesses access critical lending opportunities, protected 
     small businesses from excessive Federal regulatory 
     enforcement, played a key role in ensuring full and open 
     competition for government contracts, and improved the 
     economic environment in which small businesses compete;
       Whereas the Small Business Administration, which was 
     established in 1953, has also provided valuable service to 
     small businesses through financial assistance, technical 
     assistance, procurement assistance, small business advocacy, 
     and disaster recovery assistance;

[[Page S4162]]

       Whereas for over 50 years the Small Business Administration 
     has helped approximately 22,000,000 Americans start, grow, 
     and expand their businesses and has placed almost 
     $250,000,000,000 in loans and venture capital financing into 
     the hands of entrepreneurs;
       Whereas the Small Business Administration has helped 
     millions of entrepreneurs achieve the American dream of 
     owning a small business; and
       Whereas the Small Business Administration will mark 
     National Small Business Week, the week beginning April 24, 
     2005: Now, therefore, be it
       Resolved, That the Senate--
       (1) honors small businesses during the Small Business 
     Administration's National Small Business Week, the week 
     beginning April 24, 2005;
       (2) supports the purpose and goals of National Small 
     Business Week; and
       (3) commends the Small Business Administration and the 
     Small Business Administration's resource partners--
       (A) for their work, which has been critical in helping the 
     Nation's small businesses grow and develop; and
       (B) for being key players in the Nation's economic 
     vitality.

                          ____________________