By
February 9, 2004

Hector Barreto, Administrator of the U.S. Small Business Administration (SBA) was the featured speaker during the Public/Private Partnership Breakfast January 23 at the 72nd Winter Meeting.

Barreto began by sharing his inspiration for serving as head of the SBA and working with small businesses. He told the story of the Mexican restaurant his parents owned and the lessons he learned working with his parents everyday in the restaurant. "They dreamed of a place where you can make your own success...where your future is your own and the only thing that limits you is yourself. I didn't know it then, but that dream was the America Dream and my parents were living it," he said.

The Administrator admitted that he is lucky to have grown up with parents who were entrepreneurs. "And now I get to travel around the country and meet people like that. I get to listen to them tell me about their American Dream and their vision."

The Administrator explained the mission of the SBA to the mayors, saying, "We-re not guaranteeing success and we-re not talking about handouts. We can't and we shouldn't. What we are talking about is creating an environment of freedom, where with hard work and dedication, you can achieve your dreams."

Barreto outlined the steps the SBA takes to help entrepreneurs succeed, including guaranteeing loans to small businesses and working to alleviate overzealous government regulation. "We-ve spent three years trying to simplify, and in some cases, remove unnecessary regulations. We-re making progress, but we are not done yet, not by a long shot," he commented.

Barreto also discussed the issues that small business owners face today, including the rising cost of health care. He noted that health care costs have risen in the double digits every year and many entrepreneurs simply cannot provide this benefit for themselves or their families. While there is no easy answer to solving health care expenditures, the Administrator did assure the mayors that the Federal government is working to address this issue to help small businesses.

Another issue the Federal government is working to address is working to end frivolous lawsuits that put a burden on small business owners. To stress the importance of pending legislation that would remove financial incentive for lawyers, Barreto shared the following, "Did you know that no American company makes ladders anymore? Why? Because they-ve all been sued out of business."

The Administrator concluded by saying, "I am proud of the commitment the President made and I am proud of the commitment I made to American small business owners. But, I want you to know that I do not consider this commitment fulfilled — our work continues."