Small Business Legislation

Small business legislation is drafted so that small business owners can further expand their respective businesses. The United States Congress recognizes small businesses as strong forces that keep the economy from sinking further. To further increase their power in the economy, the Congress invests effort that allows these small businesses become more competitive and ultimately, great sources of taxes.

The United States Congress has been more supportive to small businesses for the past couple of years. As a matter of fact, three bills concerning business policies catering to small business men were drafted and passed in 2007 alone.

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Small Business Lending Improvements Act

One example of small business legislation is the Small Business Lending Improvements Act of 2007. It was sponsored by Representative Melissa Bean, and the bill aimed at increasing the access of small businesses to the many capital programs of the Small Business Administration.

The details of the objectives of the said bill include increasing the population of professionals from the medical field especially in areas where they are direly needed, increasing the access of the veterans to small business initial funding, authorizing loans to projects that are capable of saving energy and reducing the consumption of energy by 10%, and modifying the participating organizations, requirements in certification.

SBA Women’s Business Programs Act

The next bill to be passed after the previous one is SBA Women's Business Programs Act of 2007 sponsored by Representative Mary Fallin. Although the women of today are now greatly empowered, this bill is a move to further give women a chance to develop. The National Women’s Business Councils are required to find out what are the things that keep women from further developing especially in field of business.

The bill also authorizes the SBA Administrator to give financial help to institutions that aim to spearhead projects that are aimed in introducing more women entrepreneurs in the business world. Other business assistance would include training in investment of capital, preparation of financial statements, management of cash flow, and other business tasks. In addition to that, management assistance will also be provided so that women can be given more insights and strategies in the other facets of business.

SBA Veterans’ Programs Act

Sponsored by Representative Vern Buchanan, the SBA Veterans’ Programs Act of 2007 seeks to give more opportunities to veterans through the Veteran Business Outreach Centers and in the Transition Assistant Program workshops of the Department of Labor. The bill would also want to build a Women’s Veterans Business Training Resource Program that would gather information from various organizations so that women veterans can avail themselves of business training that covers the basic business skills such as accounting, advertising, and marketing.

Finally, the third small business legislation would like to give grants to veterans as a way of assisting them through a Business Development Center. This would cater to all veterans, federal agencies, military units, and other veteran organizations. This way, veterans can have more opportunities to learn and become possible small business owners as they move forward.