The big think: How to fix the SBA
The Small Business Administration has become a quagmire of Washington politics. We asked entrepreneurship experts what Karen Mills should do to fix the agency.
Veronique de Rugy
Deep thinker at the Mercatus Center at George Mason University
Prescription: Abolish
"The SBA should be abolished. It's a useless organization. It fails to help small businesses because it is incompetent - not because it is under-funded.
The budget right now for the SBA may seem small, but taxpayers are on the hook for the $28 billion the SBA guarantees in loans every year. That's a significant amount of money for a program that is ineffective.
The SBA also has education programs, but it's not the job of the federal government to do education, and it's not what small businesses are asking for. They're asking for a reduction in regulatory burden and are asking for relief in tax rates."
NEXT: Rep. Nydia M. Velázquez
Prescription: Abolish
"The SBA should be abolished. It's a useless organization. It fails to help small businesses because it is incompetent - not because it is under-funded.
The budget right now for the SBA may seem small, but taxpayers are on the hook for the $28 billion the SBA guarantees in loans every year. That's a significant amount of money for a program that is ineffective.
The SBA also has education programs, but it's not the job of the federal government to do education, and it's not what small businesses are asking for. They're asking for a reduction in regulatory burden and are asking for relief in tax rates."
NEXT: Rep. Nydia M. Velázquez
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