Senator Hassan Leads Colleagues in Calling for Robust Funding to Strengthen Entrepreneurial Development Programs
WASHINGTON – U.S. Senator Maggie Hassan (D-NH) is leading a group of her colleagues in calling for robust funding for entrepreneurial development programs at the Small Business Administration (SBA) in this year’s government funding bill. Specifically, the Senator and her colleagues are pushing for funding for programs administrated by the Office of Entrepreneurial Development and the Office of Entrepreneurship Education, which provide critical support and resources to small businesses and entrepreneurs in New Hampshire and across the country.
“The [Office of Entrepreneurial Development and the Office of Entrepreneurship Education] together play a vital role in supporting and promoting small businesses across the country. These offices provide small businesses with advising, mentoring, and training assistance by leveraging the resource partner network of Small Business Development Centers, Women’s Business Centers, and the non-profit association SCORE (Service Corps of Retired Executives), as well as the Regional Innovation Clusters, Entrepreneurship Education, SBA Learning Center, and Emerging Leaders programs,” wrote the Senators.
The Senators continued, “SBA entrepreneurial development programs are now more important than ever, helping to promote small businesses and provide critical support to entrepreneurs. America’s 33 million small businesses support approximately 61 million jobs, and provide employment opportunities in rural and urban communities alike. When American small businesses are strong, they help grow our economy while strengthening the communities that they serve.”
"Senator Hassan understands that small businesses and entrepreneurs are the backbone of New Hampshire's economy -- and she has always had their backs,” said Liz Gray, State Director of the New Hampshire Small Business Development Council. “By strengthening entrepreneurial development programs at the SBA, we can help ensure that Granite State small businesses have a better chance of success, and I am grateful for her efforts to secure funding for these critical programs."
“SBA entrepreneurial development programs, particularly those like the Women’s Business Center programs, are vital to ensure underrepresented and under-resourced folks have equitable access to the tools, education, connections, networks, and capital to start and grow thriving small businesses,” said Chandra Reber, Director of the New Hampshire Center for Women & Enterprise. “These programs ensure that everyone who wishes is able to pursue small business ownership as a pathway to financial wellbeing for themselves, their families, and their communities regardless of their background or financial situation. When more folks are able to bring to bear their full potential as leaders and innovators in business, we all win. The ripples of their individual and local success in turn enriches our nation, and ultimately our world. I am grateful to Senator Hassan who understands this and has worked hard to ensure small businesses continue to receive the support they need to thrive in challenging times.”
Senator Hassan is working with her colleagues to strengthen innovation and promote entrepreneurship. Senator Hassan successfully pushed to include the doubling of the refundable research and development (R&D) tax credit for small businesses and startups in the Inflation Reduction Act. She also recently introduced a bipartisan bill that builds on her work to expand the refundable R&D tax credit and extend it to more startups and small businesses. As Governor of New Hampshire, Senator Hassan doubled the supply of state R&D tax credits and made the credit permanent.
The letter was also signed by Senators Richard Blumenthal (D-CT), Maria Cantwell (D-WA), Ben Cardin (D-MD), Catherine Cortez Masto (D-NV), Dianne Feinstein (D-CA), John Hickenlooper (D-CO), Angus King (I-ME), Amy Klobuchar (D-MN), Edward Markey (D-MA), Jon Ossoff (D-GA), Bernie Sanders (I-VT), Jeanne Shaheen (D-NH), Tina Smith (D-MN), and Ron Wyden (D-OR).
To read the full letter click here or see below:
Dear Chairman Van Hollen and Ranking Member Hagerty:
As you prepare the Financial Services and General Government appropriations bill for fiscal year (FY) 2024, we request that you provide robust funding for the programs administrated by the Office of Entrepreneurial Development (OED) and the Office of Entrepreneurship Education (OEE) at the Small Business Administration (SBA).
The OED and OEE together play a vital role in supporting and promoting small businesses across the country. These offices provide small businesses with advising, mentoring, and training assistance by leveraging the resource partner network of Small Business Development Centers, Women’s Business Centers, and the non-profit association SCORE (Service Corps of Retired Executives), as well as the Regional Innovation Clusters, Entrepreneurship Education, SBA Learning Center, and Emerging Leaders programs. These programs work to build partnerships and find innovative ways to stimulate small business growth. The Small Business Development Centers Program, for example, brings together the private sector, educational community, and federal, state, and local governments to tailor technical assistance to the needs of small business clients in all 50 states.
SBA entrepreneurial development programs are now more important than ever, helping to promote small businesses and provide critical support to entrepreneurs. America’s 33 million small businesses support approximately 61 million jobs, and provide employment opportunities in rural and urban communities alike. When American small businesses are strong, they help grow our economy while strengthening the communities that they serve. Due to the benefits that the SBA entrepreneurial development programs provide to small businesses, we respectfully request that you appropriate robust funding for these programs.
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