The SBA also has established a special Y2K Web page that is an excellent source of information that s available around the clock. Y2K Action Loans, which can be used by small businesses to upgrade their non-Y2K compliant computers. In addition, the agency will distribute free Y2K information kits and brochures to all participants. The glitch could cause them to stop running or to start generating erroneous data. This could affect everything from employee payroll records and utility bills to security systems and computers.
Small businesses are an important element in the national economy.
America's 24 million small businesses employ more than 50 percent of the private workforce, generate more than half of the nation's gross domestic product, and are the principal source of new jobs in the U.S. economy. We re pleased to be a partner in the effort. The SBA, established in 1953, provides financial, technical and management assistance to help Americans start, run and grow their businesses. Last year, the SBA offered management and technical assistance to more than one million small business owners. The SBA also plays a major role in the government's disaster relief efforts by making low-interest recovery loans to both homeowners and businesses.