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Wednesday, January 14, 2009

CNNMoney: The big think: How to fix the SBA

Lloyd Chapman

President, American Small Business League

Prescription: Boost funding

"There are 27 million small businesses. The budget needs to be pushed up to $5 billion to $10 billion per year.

Obama had a rescue plan and a promised budget for small businesses, but those plans are absent from his Web site. With no mention of the SBA, I take this as a crystal ball into the future, that Obama has no intention of fixing the SBA.

But assuming a plan does fall in to place, the mission of the SBA needs to be restored. But the other crucial recommendation is to fix the lack of oversight. There are not enough people to make sure programs operate. Staff those departments where people review the contracts. Field offices should be open and staffed up, as they have been cut back dramatically."

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