Educating Entrepreneurs through Today's Technology Act

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 1807) to provide distance learning to potential and existing entrepreneurs, and for other purposes, as amended.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and include extraneous material on the bill under consideration.

Mr. Speaker, I yield myself as much time as I may consume.

I rise in support of this bill which will help entrepreneurs grow their businesses through the expanded use of cutting-edge technology. This bill is a bipartisan product introduced by Representative Thompson from Pennsylvania and promises to go a long way in helping small firms flourish. Entrepreneurship is the tested tool for powering economies. So it should come as no surprise that entrepreneurial development, or ED, programs, have a track record for sparking growth. In fact, every $1 put into these initiatives puts another $2.87 into the Treasury. You cannot argue with that kind of return, especially at a time when our economy is fighting to recover.

While small business growth is important to any community, it is especially vital in struggling rural regions and urban areas. When recession hits, these areas fall the hardest. That is why this bill is so important. Through the use of cutting-edge technology, it delivers entrepreneurial development training to Americans everywhere. In doing so, it encourages business growth in places where it might not otherwise take root.

This is critical because entrepreneurship is more than a means of employment. It is a path to economic independence. Technology is often referred to as the great equalizer. It is an avenue through which all businesses, large and small, can attract new customers and reach untapped markets. It is also an effective means for delivering information and sharing data.

The Educating Entrepreneurs through Today's Technology Act builds on those two capabilities. With the click of a mouse, an aspiring entrepreneur in Appalachia can participate in a training program broadcast out of San Francisco. Resources such as satellite seminars and online information sessions make it easy for entrepreneurs everywhere to access information on a broad range of topics. Starting and running a small business can be challenging. In the current environment, even seasoned entrepreneurs are struggling to adapt. Proper training in areas like credit management, financial literacy and Federal small business programs are more important than ever. Whether we are talking about fledgling entrepreneurs or those with years of experience, everyone can benefit from this kind of information.

There is no question that our economy looks different today than it did the last time SBA's ED programs were updated. In terms of technology alone, we have grown by leaps and bounds. This bill reflects that change. It makes sure small firms can use modern technology to the best of their advantage. With these services, startups will be able to build a solid business foundation. Meanwhile, established firms will be able to retool and improve their existing operations.

As we continue to work our way towards recovery, small businesses will be on the front lines. It only makes sense to give them all the tools they need to succeed because with the technology of today they can help build prosperity for tomorrow. Mr. Thompson's bill gives them the resources to do so.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, I yield back the balance of my time.

Mr. Speaker, I yield myself as much time as I may consume.

I rise today in support of H.R. 1807, the Educating Entrepreneurs through Today's Technology Act. Small businesses are the backbone of our economy, employing roughly half of United States workers. While our communities are experiencing high unemployment rates, the entrepreneurial spirit remains alive and well. For many underserved and rural areas, it is critical to have the opportunity and the ability to tap into resources that will foster further economic development and provide prospective entrepreneurs with the same access afforded to their suburban and urban counterparts.

H.R. 1807 will allow third parties the opportunity to provide high- quality tele-distance training through a competitive grants process administered by the SBA. The measure will provide for third-party vendors with experience in distance learning content and communications technology. It will employ online, satellite, video-connected, community-based organizations to distribute and conduct distance learning related to entrepreneurship, credit management, financial literacy, homeownership and Federal small business development programs.

The Small Business Administration will ensure that the communications technology is distributed through all 50 States and U.S. territories to home-based businesses, Small Business Development Centers, Women's Business Centers, Veterans Business Centers and SBA district offices. Additionally, this measure would require that the online distance learning program provided for in title II of the bill, include the establishment of an online networking site where entrepreneurs and small business owners can go to interact with one another. The goal of this networking site is to facilitate the exchange of peer-to-peer technical assistance.

This will allow for prospective and established entrepreneurs and small business owners to interact with each other to troubleshoot problems and share best practices for interacting with SBA, securing financing, navigating government regulations, and the slew of odds and ends that arise when getting a small business off the ground. There is no substitute for being able to fall back on lessons learned from experience, and peer to peer will arm current and prospective entrepreneurs with this priceless information from individuals who have been there before.

Mr. Speaker, for many entrepreneurs across the country, in order to access SBA and Small Business Development Centers they have to drive long distances. In my rural district, we have learned to use our limited resources wisely, and this can also be said for rural and underserved communities across the Nation.

This measure recognizes a one-size-fits-all textbook approach to addressing entrepreneurial concerns is seldom the solution. Passage of this measure will empower these very entrepreneurs to navigate the many hurdles facing emerging businesses.

I encourage my colleagues to vote in favor of H.R. 1807 and continue the House's commitment to our Nation's entrepreneurs.

Mr. Speaker, I yield back the balance of my time.