Small business has a powerful ally on its side, the Small Business Administration s Office of Advocacy. Created by the Congress in 1976 to be an independent voice for small business, the Office of Advocacy s role in support of the small business is wide-ranging. The office has many responsibilities, including examination of the role of small business in the economy and measurement of the direct costs and other effects of regulation on small business. And, the role of the Office of Advocacy is greatly strengthened by its nationwide network of Regional Advocates. These Advocates serve as a vital communications link between individual small business owners, trade associations, elected officials and other Federal Government agencies.
Advocacy plays a critical role in the ongoing support of small business.
Advocacy works to ensure an economic environment in which small business can effectively compete and create jobs. Currently, the United States has the highest business start-up rate in the world. This is because the current strength of the economy has provided entrepreneurs and potential entrepreneurs with a sense of optimism and security. We have more open markets, more access to capital and lower interest rates. Advocacy s research indicated that lack of access to equity capital was a barrier to the growth of small business and that venture capital was flowing to business enterprises which required larger investments than small businesses needed.