The Obama Administration has announced a $2 billion public-private partnership so as to help small businesses gain access to capital. Congresswoman Doris Matsui (D-CA) applauded this announcement for this step would certainly increase access to capital for small businesses to grow. When small businesses grow they create new jobs, too.
The SBA is also going to launch a $1 billion ‘Early Stage Innovation Fund’ so as to help early-stage small businesses gain access to private capital. Also, fifty private sector partners have committed to deliver $1 billion support to 100,000 small businesses in next three years. This will include free software distribution, legal services and free consulting services. There is also commitment from the Department of Education and the Department of Labor to improve entrepreneurship activities
Sacramento small business owners have been complaining that their biggest obstacle to expand is private capital. The Obama administration did a great job with this new initiative as now small businesses will have greater access to the loans that they need.
Small businesses are engines of growth in Sacramento as the region is comprised of 98% small businesses. A lot depends on small companies for the growth of the U.S. economy. With the growth of small enterprises, the American workforce will can find well paying jobs and the U.S. will continue to remain the leader in innovation.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to firstname.lastname@example.org