U.S. Small Business Administration (SBA) Partners with the Federal Research Division of Library of Congress
From the Small Business Administration Blog:
Created by Congress in 1958, the Small Business Investment Company (SBIC), program was established as a public–private partnership in order to generate long-term capital for small businesses within the United States. It was the second program established after the one today known as the 7(a) loan program. SBIC leverages the need for returns on capital that principal investors seek to affect economic development in this country. It is a public-private partnership that works and that runs at a zero-subsidy cost to the American taxpayer.
[Clip]Today, there are 303 SBICs managing $25.2 billion in assets that invest in thousands of American small businesses.[Clip]
A few iconic U.S. businesses backed by SBIC financing include Tesla Motors, Adams Respiratory (Mucinex), Amgen, AOL, Apple, Build A Bear, Costco, FedEx, Hewlett Packard, Jenny Craig, Intel, Nutri-Systems, Outback Steakhouse, Quiznos, Sun, and Staples.
With this engagement of the Library of Congress [specifically the Federal Research Division (FRD)], SBA is seeking to derive refreshed metrics that more effectively measure the impact of the SBIC program on jobs, the small businesses receiving SBIC funding, the return on investment and diverse fund management and investments. At a very high level, there are four key items of note regarding this research and analysis which we hope will inform not only our effectiveness and impact but also policy:
- This is the first time the SBIC program has ever commissioned a ‘Fund Management Diversity’ study in its history. Today, there are about 50 SBICs that have a woman and/or minority in its principal ranks; in fact, very few studies of this type have ever been done.
- This is the first time the SBIC program has ever commissioned a dedicated study of SBIC overall impact on job creation. From an empirical perspective, this is an important measure of SBIC’s economic development real effect on our economy.
- This is the first time in about three decades in which a comparative economic impact study has been performed on the SBIC program.
- This is the first time SBA has engaged the Federal Research Division of the Library of Congress and we look forward to working with them and the many great FRD and independent researchers and economists that will be involved.
Read the Complete SBA Blog Post
See Also: Learn More About the Federal Research Division of the Library of Congress
See Also: In 2015, the Federal Research Division Published Sudan: A Country Study. The full text report (483 pages; PDF) is accessible here.
See Also: Small Collection of Full Text FRD Studies and Reports
About Gary Price
Gary Price (email@example.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area. He earned his MLIS degree from Wayne State University in Detroit. Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com. Gary is also the co-founder of infoDJ an innovation research consultancy supporting corporate product and business model teams with just-in-time fact and insight finding.