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Empowering America’s Entrepreneurs: Startup America

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Empowering America’s Entrepreneurs: Startup America

By Karen Mills, Former SBA Administrator
Published: January 31, 2011 Updated: May 16, 2011

For the past 50 years at SBA, we’ve always been proud to serve not only “Main Street” small businesses, but also the small, high-growth firms that drive the lion’s share of net new job creation each year in America. In fact, SBA played a significant role in the early years of firms like Intel, FedEx and Apple. Today, through a new initiative called Startup America, the entire Administration is joining us in supporting these firms in order to help drive innovation, competitiveness, and good jobs here at home.

What is Startup America?

Startup America is a nationwide effort to increase the number of successful startups and to help promising young companies grow to the next level. It’s a call to action for leaders in business, academia, the investment community, and the nonprofit sector – and entrepreneurs themselves – to do more to support entrepreneurship. Startup America will push for more investment in promising startups, more mentoring of entrepreneurs, more commercialization of new discoveries, and fewer regulatory barriers to innovation.

One of our first steps will be to infuse up to $1 billion over the next five years in underserved communities and emerging industries through a new Impact Investment Fund. This fund will be based on SBA’s Small Business Investment Company program that just had a record year.

If you watched the State of the Union, you may have heard of a firm that benefited from the SBIC program: Center Rock, Inc., in Berlin, Pennsylvania. In 2005, an SBIC invested $4 million in Center Rock, which helped the company grow from 20 to 70 employees and shift from distributing to manufacturing of drilling equipment. Last summer, one of Center Rock’s drill bits helped rescue the 33 Chilean miners.

Today, there are thousands more entrepreneurs and small, high-growth firms like Center Rock that are poised to grow and create more good American jobs. They’re ready to “do big things.” If you’re one of those entrepreneurs, I encourage you to talk with your local SBA office about how we can help give you the tools you need to succeed… and keep an eye out for new Startup America initiatives being rolled out in the coming weeks and months.

About the Author:

Karen Mills

Former SBA Administrator

Karen Gordon Mills is the Former Administrator of the U.S. Small Business Administration. The SBA helps both Main Street and high-growth small businesses get access to capital, counseling, federal contracts, disaster assistance and more.

Comments:

Should be helpful to many new small businesses. Great İdeas is the way to go!
I know a few businesses that have been encouraged to start in business due to Start Up America so it must be working.
I'm delighted to see the announcement of this initiative and hope that it is a success and that more people are encouraged to start up new businesses and help to thrive in their market or industry.
As I can see from online data, Startup America was pretty successful and that's really great. BTW, how about starting to motivate people to work online? I assume that our future is closely connected to Internet and we should start to better understand that fact.
I think this is key to success, empowering new found talent in the business field rather than encouraging people to go to work for the big corporations.
thanks for good information
I savoured reading it. I need to read more on this topic...I am admiring the time and effort you put in your blog, because it is evidently one great place where I can find lot of useful info..
I love the way you write and also the theme on your blog. Did you code this yourself or was it done by a professional? I'm very very impressed.
I know from my experience that there is alot of web business startups and it is great to read articles like this one that focus on the governments involvement in helping young americans get into business that adversly will help the economy get out of this economical cycle. I have seen global involvement in professional domain development and expect internet growth and sales trends to keep increasing into the future. Stay positive as there is always an small business opportunity somewhere.

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