On the recordJune 24, 2010
as Chair of the Committee on Small Business and Entrepreneurship, I am pleased to introduce the Native American Small Business Assistance and Entrepreneurial Growth Act of 2010. This vital and timely legislation codifies and builds upon the Small Business Administration's, SBA, existing efforts through the Office of Native American Affairs, which is responsible for overseeing and implementing programs that are specifically tailored to meet the needs of the Native American community. By strengthening and improving these programs, the SBA will be able to reach even more Native Americans, helping them to achieve their dream of starting or growing their own small businesses and spurring vital and necessary growth within tribal communities. According to the most recent report released by the U.S. Census bureau, the 'three year average poverty rate for American Indians and Alaska Natives was 25.9 percent higher than for any other race groups.' Additionally, research shows that entrepreneurial development is playing a significant role in promoting healthy tribal economies, and fostering much needed economic growth in various industries. Data from the 2000 U.S. Census shows that since 1997, the number of Native American-owned businesses has risen by 84 percent to 197,300, and that their gross incomes have increased by 179 percent to $34.5 billion.
