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Today, the U.S. House of Representatives passed an amendment authored by Rep. Nydia M. Velázquez (D-NY), the Ranking Democrat on the House Small Business Committee. Velázquez’s amendment will increase funding for Small Business Development Centers (SBDCs), which are located throughout the country. As the largest of the Small Business Administration’s entrepreneurial development programs, SBDCs play a vital role in helping local businesses succeed, especially in the aftermath of a natural disaster. 

“The fact is if we are going to help our economy grow we need to make smart investments in the small business sector – and funding entrepreneurial development does exactly that,” said Velázquez. “These trailblazers – both new entrepreneurs and small, rapidly growing companies -- drive the American economy. They take great risks by launching new ventures, developing new products, establishing new industries and, ultimately, spurring job growth.”

Velázquez’s amendment would protect SBDCs from a proposed budget cut in the 2018 Appropriations package and fund the program at $130 million. 

“Providing entrepreneurs with resources to succeed is one of our most powerful job creation tools,” said Velázquez. “By properly funding SDBCs we are investing in our long term prosperity.”

SBDCs help companies and entrepreneurs at every stage of development. They operate in nearly 1,000 locations across the country and in a single year, over 13,000 entrepreneurs have been able to launch new businesses with the guidance and counseling provided by SBDCs. 

In times of natural disasters, these centers play a crucial role in helping local businesses and economies recover. In the ongoing aftermath of Hurricane Harvey, SBDCs have already helped SBA establish two Business Recovery Centers in Texas. As Hurricane Irma continues to devastate US territories such as Puerto Rico and the US Mainland, these centers have the potential to help revive local businesses. 

“A strong core program provides the ability of different state SBDCs to support neighboring communities – especially during natural disasters,” said Velázquez. “SBDCs in various states, like New York, have already offered to help their Texas colleagues. But they can only do this with a robust, properly funded national network.” 

Velázquez’s amendment has received a letter of support from America’s SBDCs, an association that represents the counseling centers. 

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