“Small businesses and entrepreneurs are the driving force behind the economic development of our communities,” Tanner said in a press release. “This legislation is another way we are working to help create private-sector jobs in Tennessee.” 

He said the bill is the first major overhaul of the Small Business Administration’s entrepreneurial development programs in a decade. It expands and improves some of the SBA’s most successful programs, such as Small Business Development Centers, Women’s Business Centers and the Service Corps of Retired Executives. He said the bill also creates new online learning programs and establishes grant programs to assist small firms in securing capital and credit.

“These programs are important investments in our economic future,” Tanner said. “For every  dollar we spend on a successful entrepreneurship program, we see about $2.87 return to the Treasury. Last year alone, these development programs helped create 73,000 private-sector jobs.”

The bipartisan legislation, introduced by U.S. Rep. Heath Shuler (D-NC), also establishes for the first time a nationwide network of Veterans Business Centers to provide specialized entrepreneurial training and counseling to military veterans. It also provides resources for out-of-work Americans who want to pursue entrepreneurship as their next career move and establishes a council to promote rural entrepreneurship.
Published in The Messenger 5.21.09