Former SBA official: Small firms' access to capital is a key challenge

11/6/2013 | Atlantic Cities, The

Ensuring that small businesses based far from the nation's entrepreneurial hot spots have access to capital is one of the chief challenges facing policymakers, said Karen Mills, former head of the Small Business Administration. Noting that 70% of venture capital is invested in companies in New York, Massachusetts and California, she highlighted the SBA's Small Business Investment Companies program, which forges public-private partnerships to award funds to companies that can't attract venture capital.

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