CEO Endorses Bill to Expand Access to Capital and Support for Small Businesses

The Center for Entrepreneurial Opportunity’s Director, Imani Augustus, issued the following statement ahead of the Senate Small Business Committee’s hearing entitled The Role of Entrepreneurship in Reducing the Wealth Gap.

“Entrepreneurship has long been a pathway to economic mobility and wealth creation, yet many aspiring and existing small business owners still struggle to turn that promise into lasting opportunity. Persistent gaps in access to capital and technical assistance continue to limit who can start and grow a successful business, particularly in communities that have historically been excluded from traditional financial systems.

“Today’s hearing on the role of entrepreneurship in reducing the wealth gap highlights the importance of durable, place-based strategies that reflect the realities small business owners face on the ground. Investing in community-based organizations that provide hands-on guidance and local expertise is essential to helping entrepreneurs navigate early-stage growth and build sustainable businesses.

“The Center for Entrepreneurial Opportunity is proud to support the Strengthening Place-Based Access, Resources, and Knowledge (SPARK) Act. By directing resources to trusted local institutions that offer one-on-one counseling, mentorship, microgrants, and affordable financing, the bill would expand opportunity for entrepreneurs, helping them access the capital they need to start, grow, and succeed. We hope this bill will reduce barriers to capital and give communities greater capacity to support small business owners.”