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Our nation’s 29 million small businesses play a critical role in their local communities. However, starting a small business isn’t easy. Nine out of ten start-ups fail because a multitude of obstacles stand between an entrepreneur and a successful business. 

For start-ups to succeed they need access to capital, a solid business plan, and a strong workforce. Although SBA offers some of these services nationally, local entrepreneurial and small business development programs can provide tailor-made solutions to fit the community. 

Today, we have representatives from several municipalities that are filling this gap and helping main street America grow. 

These programs are set up around the country and offer a variety of incentives and services that make starting and growing a business easier. 

From finding a business location, to developing the skills of young workers, such services provide the catalyst for small businesses to thrive. 

Some provide financial incentives like specialized grants and loans so businesses can hire more workers, or expand workspace. In fact, our witness today, the NYC Department of Small Business Services is offering a loan program for women and minority business owners to help traditionally underserved portions of the community. 

But they offer much more than just financial incentives. Local organizations provide site selection services to help firms maximize exposure to their target markets and identify new customers. Through professional counseling, which can range from pro-bono legal assistance to business planning, innovators can learn how to optimally run their operations for success.

Finally, we all know a business is only as strong as its workforce. To that end, some localities have begun offering grants and tax incentives for apprenticeships and on-the-job training. This allows workers to gain valuable new skills so businesses are better able to compete in the marketplace. 

This hearing gives us the opportunity to analyze the innovative ideas deployed by our witnesses and explore what makes a town, city, or county a great place for small business.

It is my hope that we can establish a set of best practices for these programs which can be used by other municipalities and future federal programs to stimulate small business growth. 

Thank you all for being here today.  

I appreciate our witnesses taking time from their busy schedules to join us.