STATEMENT
of the
Honorable Nydia M. Velázquez, Chair
House Committee on Small Business
Full Committee Hearing: “Heroes of Small Business”
May 26, 2010, 10 a.m.

“Today, we observe National Small Business Week, a salute to the hard working entrepreneurs that make our nation great.   In large cities, small towns and everywhere in between, small business owners serve as the backbone of our economy.  Most Americans get their first job at a small business -- and studies consistently show that these firms create the most new jobs.  Equally important, they generate jobs, here, in the U.S., that won’t be exported, later. 

“Today, our economy is showing encouraging signs of recovery.  Last month, we saw 290,000 jobs created -- the largest increase in four years.  To sustain that momentum, we are going to need further growth in the small business sector. 

“Running a small business is never easy.  It means working long hours and sacrificing time away from friends and family.  Often, entrepreneurs have to risk personal income to get their enterprise off the ground.  Entrepreneurship means going against the grain, taking a chance and building something new. 

“When entrepreneurs do well, our country, as a whole, prospers.    During the downturn of the mid 1990’s, small businesses created 3.8 million new jobs. As we work our way out of this recession, we’re going to need that job-creating power.  In addition to generating jobs, small businesses are our best innovators, developing new products and pioneering high-tech fields like green energy and biomedicine.  

“But beyond simply providing the fuel that makes the economy ‘go’, Main Street businesses are the anchors of our local communities.  Whether it is contributing to the local church, sponsoring a Little League team or raising money for charitable causes, small businesses make our neighborhoods stronger and better.

“We have before us today, companies engaged in everything from publishing, to lumber to developing next-generation data systems for the Defense Department.  You have all come from every corner of the nation to be with us today--- thank you for being here. 

“You may be in different industries and represent diverse parts of the county, but there is no denying that your ingenuity and hard work are common bonds that unite all entrepreneurs.  These characteristics are part of our national fabric -- indeed they are part of the American story. Today, we are looking forward to hearing your personal stories, as well as your perspectives on what it means to be an entrepreneur. 

“As Americans look beyond the current recession and toward a stronger, brighter future, they are increasingly looking to small firms for answers -- men and women like all of you.  So again, thank you for being here to offer us your insight.” 

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