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Thank you, Mr. Chairman for holding this important hearing regarding the SBA resources available in our communities.  The SBA administers a portfolio of Entrepreneurial Development programs, including Small Business Development Centers, Women’s Business Centers, the Service Corps of Retired Executives or SCORE, and Veterans Business Outreach Programs. These initiatives provide aspiring entrepreneurs and existing businesses with invaluable counseling, training, technical assistance, and mentorship. This hearing gives us the opportunity to celebrate the role of SBA resources partners in the diverse ways they serve our country and learn more of how they tailor their offerings to their unique communities.

Whether it is help creating a business plan, navigating the procurement process, marketing a new product, or identifying international trade opportunities—the SBA’s entrepreneurial development programs provide an array of services to help small firms navigate regulatory obstacles, grow, and thrive. Entrepreneurs, therefore, significantly benefit from having tools to identify, fiscally plan for, and maintain critical business improvements. 

Small business owners located throughout the country, including in underserved rural and inner-city communities, also benefit from accessible, affordable technical assistance. This reduces their isolation from buyers and other businesses. In addition to outreach, hands-on counseling is critical for businesses to obtain information pertinent to their local market and capacities. That is why the SBA entrepreneurial development programs are so critical to our local communities. 

As an example, the agency’s network of Small Business Development Centers – or SBDCs – is one such program. SBDCs operate in nearly 1,000 locations across the country and are located at colleges, universities, Chambers of Commerce, and local economic development corporations, allowing them to harness local community resources. 

In a single year, this initiative has helped more than 17,000 entrepreneurs launch new businesses, advised nearly 200,000 clients, provided training sessions for over 260,000 attendees, and helped clients obtain over $5 billion in financing. Clearly, SBDCs are a vital part of our nation’s entrepreneurial ecosystem.   

The SBA has also undertaken efforts to connect younger entrepreneurs with more experienced businessmen and women through the SCORE program, an expansive network of entrepreneurs, business leaders, and executives who volunteer as mentors to small firms both in-person and online.

SCORE has grown to become one of the federal government’s largest volunteer business advisor and mentoring programs, with over 11,000 business professionals at over 320 chapters nationwide. By offering advice from real world professionals, SCORE is helping many business owners within all categories of the entrepreneurial community.

Small businesses are as diverse as our nation and the SBA has entrepreneurial development initiatives targeted at specific demographic groups. 

Women’s Business Centers—or WBCs—are a critical initiative for female entrepreneurs. WBCs provide in-depth counseling, training, and mentoring to small firms, resulting in substantial economic impact as measured by successful business start-ups, job creation and retention, and increased company revenues. Women business owners have used this program to develop business plans, obtain financing, and expand their operations. As more women turn to entrepreneurship as a career path, it is critical this initiative remain in place to close these gaps.  

Finally, there are a range of SBA programs targeted at our veterans, most notably the Veterans Business Outreach Centers, which serve over 60,000 clients each year.  The VBOC program, along with Boots to Business and other veteran-oriented initiatives, ensure that our service members have the tools they need to go into business for themselves.  There are currently 20 VBOCs responsible for ensuring veterans’ access to capital through marketing and outreach efforts. Most importantly, they promote veterans for federal procurement opportunities to ensure three percent of federal prime contracts and subcontracts go to service-disabled veteran-owned small businesses.  

The SBA programs are key to helping business owners remain competitive in a global market. It is critical that as we consider ways to legislatively strengthen SBA entrepreneurial development programs, we do so with our local communities in mind. Today’s hearing will focus on the efforts within each of the SBA programs regarding community outreach. It also gives Members the chance to hear about the challenges they face in developing their networks and assisting local small businesses adapt to a rapidly changing economy.

I look forward to the witness’s insights and thank you for being here today.