Rep. Doris Matsui Hosts Successful Small Business Opportunities Workshop

FOR IMMEDIATE RELEASE

Tuesday, June 30, 2009

CONTACT: Mara Lee

(202) 302-3249

CA - Congresswoman Doris O. Matsui (D-Sacramento) hosted a Small Business Opportunities Workshop at Sacramento State today with over 200 attendees, who were able to network with each other, hear from Congresswoman Matsui, and ask questions from federal, state and local agencies about opportunities for competitive grants, financing, and bonds made available through federal programs and the American Recovery and Reinvestment Act.

"We received such an amazing response from local businesses, that we are already in the stages of planning additional workshops for Sacramentans in the coming months," said Congresswoman Matsui. "Even in these economic times, there are opportunities for entrepreneurs to start a new business here in Sacramento, or for existing business to help make ends meet, build off successful business models, and grow their business - which will help foster our economic recovery and create new jobs for Sacramento."

The workshop helped small business owners learn more about the resources available to them, including newly announced funds made available through the stimulus, and understand how to contract with the federal government. Presentations and information was provided by representatives of the U.S. Small Business Administration, U.S. Minority Business Development Agency, the Federal Technology Center, General Services Administration, Veteran Affairs, and the Department of Labor.

"Small businesses are the heart of the Sacramento economy," continued Rep. Matsui. "We rely on small businesses to create jobs, develop innovative products, and provide necessary services. Our region's economic vitality hinges on their success, and I was pleased to host this workshop and to continue to provide local businesses with the resources they need to take advantage of the federal funds coming into the Sacramento region."

Nationally, small businesses create 60 to 80 percent of new jobs, and are the key to our economic recovery. In periods of economic difficulty, small businesses are often the hardest hit, with little room to make big cuts. Last fall, the credit markets for Small Business Administration (SBA) loans had frozen up and made it more difficult for small businesses to obtain credit to make payroll, purchase necessary equipment or to make ends meet. But in the last few months, Congresswoman Matsui has worked with the Obama Administration to ensure that small businesses have access to the credit they need to support an economic recovery.

Last month, the President announced a new $15 billion program to help jumpstart the credit markets for small businesses. In his Fiscal Year 2010 budget, the President provided $779 million for the Small Business Administration, a 27 percent ($164 million) increase above 2009 levels. And the recovery act, which Congresswoman Matsui supported, provides a series of investments and tax credits to help our nation's small businesses.

Through the economic recovery package, Congress and the President have provided $21 billion in new lending and investment for small businesses, steered $15 billion in tax relief to small companies, put small firms back to work repairing the nation's ailing infrastructure, and created opportunities for entrepreneurs in the areas of technology and renewable energy.

Additionally, the House of Representatives recently passed the Job Creation Through Entrepreneurship Act of 2009, which authorizes entrepreneurship programs aimed at spurring small business growth. A strong supporter of the bill, Congresswoman Matsui believes it is an important step toward securing further support for Sacramento small businesses.
"Sacramento is fortunate that we have retained a small city feel, even as we continue to welcome new businesses into our community. We have been able to do that because small businesses have served and prospered in our community for generations," said Congresswoman Matsui. "I am committed to continuing to help support Sacramento businesses by making sure they have the resources they need to succeed, even in challenging economic times."