WILFONG’S THOUGHT OF THE DAY: Entrepreneurship is the Answer – March 16, 2008

Entrepreneurship

ISSUE STATEMENT NO. 3737 | ENTREPRENEURSHIP IS THE ANSWER -TO A LOT OF THINGS……..

But, we must face a lot of “realities” before we achieve the results. We must have a lot of components to cause the recipe to work. Competitive viability…..maximum practicable utilization…..competent advocacy….relevant technical assistance- the necessary ingredients.

We are aware that the Senate Subcommittee on Urban & Rural Entrepreneurship examined the role of entrepreneurial development in promoting the success of small firms. This was reported by 8-PAC Eagle-Premium Business Communication Portal, A Small Business, Veteran, and Disadvantaged Business Contractor Association, March 14, 2008.

“WASHINGTON, D.C. – Facing record energy prices, tightening credit markets and heavy job losses, America looks to a proven source of economic strength-small businesses. In turn, many of these firms rely on the Small Business Administration’s (SBA) entrepreneurial development programs, which are specifically designed to provide them with the business information, training, and advice they need to succeed. The Subcommittee on Urban and Rural Entrepreneurship today held an oversight hearing to ensure these initiatives are meeting the needs of small firms.

“Small businesses are leaders when it comes to innovation and job creation. It is in the nation’s fundamental interest to help them grow the economy,” said Chairman Heath Shuler (NC-11).” “The math on this is very simple. Small business owners who take advantage of SBA’s entrepreneurial development support are twice as likely to succeed. That’s the sort of calculation that keeps America at the forefront of global competitiveness,” said Chairman Shuler. Well, to be truthful with you Mr. Senator, it is, and then it ain’t. We’ve seen the math. We know what the numbers say. But, we also know and experience daily the failure of the Government to live up to such high-sounding words as these.

It is a truism to assert that it is in the nation’s fundamental interest to help small businesses grow the economy. But, then, it is also to sadly true that the government is failing miserably on its pledge of 30 years ago,”to promote the competitive viability of firms owned by socially and economically disadvantaged individuals, through the provision of contractual, financial and technical assistance as may be necessary” (P.L. 95-507).

Maybe, just maybe, Sen. Shuler and his subcommittee is exhibiting signs that a Change is a commin’. Well, it’s about time. Will this be talked about at the SDB Institute of Learning-Spring Session on April 16th…YES it will…. The struggle continues, until we succeed-and we shall,-YES WE CAN!!!!!

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Henry T. Wilfong Jr., MBA, CPA

President, NASDB
Current or Former Positions:

  • Three-time Appointee of Governor and President Ronald Reagan
  • Pasadena, CA City Councilman
  • Member, Bush-Cheney Transition Team-SBA Advisory Group
  • Member, Department of Energy, Small Business Advisory Committee
  • Associate Administrator for Minority Small Business/Capital Ownership Development, SBA
  • Member, National Council on Policy Review-Black Capitalism
  • Member, Presidential Task Force on International Private Enterprise
  • Member, California Council on Criminal Justice
  • Member, NASA Advisory Council
  • Chair, NASA Minority Business Resource Advisory Committee
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