As the designee for Mr. Polis, I have an amendment at the desk. Mr. Chairman, I rise in support of my colleagues' amendment. I thank Representative Shuler, Representative Velazquez, and members of the Small Business Committee and their…
As the designee for Mr. Polis, I have an amendment at the desk.
Mr. Chairman, I rise in support of my colleagues' amendment. I thank Representative Shuler, Representative Velazquez, and members of the Small Business Committee and their staff for bringing forward this legislation that will promote entrepreneurship at a time when our Nation needs it most.
As a former small business owner, I know that starting a new business is an exciting experience. I know also that with the steep learning curve involved in managing and building a business, all too important details are left unattended. It is these details, however, that can determine whether a business will succeed or fail.
The educational and networking programs established by this bill will help small business owners attend to these details with the assistance of dedicated professionals.
Each community and each business presents a unique set of challenges and rewards. By creating specialized Small Business Development Centers, the modest funds we allocate in this bill will yield strong results through targeted counseling and training. This amendment simply adds training on reducing operating expenses through energy savings to the existing list of educational programs under this bill.
Entrepreneurs will greatly benefit from targeted training on energy use, a detail that represents 19 percent of the cost of running a small business. This high recurring cost can be inconsistent, unpredictable, and fluctuate seasonally.
High energy costs in periods of reduced revenue can be a frustrating challenge for a small business--but it's also avoidable.
Many communities and utilities offer programs to help businesses reduce energy consumption and many also offer tax breaks and incentives to reduce energy use. Some of the incentive programs available include assistance in acquiring efficient office hardware and installing renewable energy projects, but they can also help business owners with simple solutions, such as installing fluorescent light bulbs, turning off unused equipment, and closing doors and windows.
However, as common sense as it may seem to turn off a light when not in use, during the intense activity of starting a new business, ordering inventory, and hiring new employees, the lack of attention paid to an open window can quickly morph from a harmless oversight to an expensive habit.
Mr. Chairman, I want to remind my colleagues that 19 percent paid for energy is 19 percent that is not being reinvested in the business. That is 19 percent less cushion a business owner has in the event of an economic downturn. Nineteen percent may seem small, but it could be smaller.
Energy, of course, is a necessary expense. Compared to good employees and quality projects, however, this expenditure yields marginal returns. There is a reason that our utility companies call us valued customers and don't call us wise investors. Imagine if that 19 percent could be 9 percent.
To put it a better way, what if we could offer entrepreneurs an additional 10 percent capital? That 10 percent of additional resources can be invested in aspects of the operation that generate revenue.
The accumulated cost savings from moving the thermostat just a few degrees and reinvesting those funds into the business over time can be the difference between new supplies, expanding, or hiring a new employee.
This amendment strengthens our investment in small businesses by helping them with low-cost ways to improve their operations and increase their profits. The most exciting aspect of small business is the spirit of entrepreneurship, but finding creative solutions to reduce costs and save energy are possible only when business owners are made aware of the opportunities available to them.
This amendment, by simply creating awareness of energy-saving techniques and programs, will help small businesses thrive. Reducing energy consumption is not only smart environmental policy, it is sound economic policy.
I ask my colleagues to support this amendment and this important bill. I once again thank Representative Shuler, Chairwoman Velazquez, and members of the Small Business Committee
I reserve the balance of my time.
I yield back the balance of my time.