passage nine (the program federal government helps minority business

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1、英语100篇精读汇粹（中级篇）【TypeBySimonLau（8029）】PassageNine(TheProgram-FederalGovernmentHelpsMinorityBusiness)Federaleffortstoaidminoritybusinessesbeganinthe1960’swhentheSmallBusinessAdministration(SBA)beganmakingfederallyguaranteedloansandgovernment-sponsoredmanagemen

2、tandtechnicalassistanceavailabletominoritybusinessenterprises.Whilethisprogramenabledmanyminorityentrepreneurstoformnewbusinesses,theresultsweredisappointing,sincemanagerialinexperience,unfavorablelocations,andcapitalshortagesledtohighfailurerates.Even15year

3、saftertheprogramwasimplemented,minoritybusinessreceiptswerenotquitetwopercentofthenationaleconomy’stotalreceipts.Recentlyfederalpolicymakershaveadoptedanapproachintendedtoacceleratedevelopmentoftheminoritybusinesssectorbymovingawayfromdirectlyaidingsmallmino

4、rityenterprisesandtowardsupportinglarge,growth-orientedminorityfirmsthroughintermediarycompanies.Inthisapproach,largecorporationsparticipateinthedevelopmentofsuccessfulandstableminoritybusinessesbymakinguseofgovernment-sponsoredventurecapital.Thecapitalisuse

5、dbyaparticipatingcompanytoestablishaMinorityEnterpriseSmallBusinessesthathavepotentialtobecomefuturesuppliersofcustomersofthesponsoringcompany.MESBIC’saretheresultofthebeliefthatprovidingestablishedfirmswitheasieraccesstorelevantmanagementtechniquesandmorejo

6、b-specificexperience,aswellassubstantialamountsofcapital,givesthosefirmsagreateropportunitytodevelopsoundbusinessfoundationsthandoessimplymakinggeneralmanagementexperienceandsmallamountsofcapitalavailable.Further,sincepotentialmarketsfortheminoritybusinesses

7、alreadyexistthroughthesponsoringcompanies,theminoritybusinessesfaceconsiderablylessriskintermsoflocationandmarketfluctuation.Followingearlyfinancialandoperatingproblems,sponsoringcorporationsbegantocapitalizeMESBIC’sfarabovethelegalminimumof$500,000inorderto

8、generatesufficientincomeandtosustainthequalityofmanagementneeded.MESBIC’sarenowemergingasincreasinglyimportantfinancingsourcesforminorityenterprises.Ironically,MESBICstaffs,whichusuallyconsistof