Guest Column: Nike, Apple got SBA help before they were icons

They must work around the clock if necessary, often acting not only as the CEO of their company, but the head of sales, head of finance, and whatever else it takes to get the job done.

It’s hard work. In fact, I often say small-business owners match every dollar of equity with $10 of sweat equity. But that’s also why they’re successful where others are not.

America is an economy that regenerates, is flexible and adapts to opportunity, largely because our entrepreneurial culture has taught us to dream, to see possibilities and to act on them.

This year marks the 45th anniversary of National Small Business Week, and the Small Business Administration’s 55th year of enabling America’s entrepreneurs.

The SBA will recognize special achievements with awards for State Small Business Persons of the Year and for the National Small Business Person of the Year.

Several other awards also will be presented to honor those in the lending community, in the federal government, and in private industry that have shown exceptional dedication to small business.

National Small Business Week, April 21–25, featured panel discussions on important policy issues that impact small businesses, including health care, international trade, energy, financing, and federal procurement.

Creating the right environment for small-business owners is vital for them – and for America’s economy. Small businesses employ half of our private sector work force and create about 70 percent of net new jobs. Small firms account for half of our non-farm gross domestic product and are major drivers of innovation.

Small-business ownership allows people to realize dreams, not only for the owners and their families, but for those they employ and those they serve. Successful small businesses are the economic foundation of vibrant communities, and by working to accelerate entrepreneurship, the SBA can help small-business owners drive real, lasting change and create new opportunities, which is especially important in economically distressed communities across our country.

The SBA plays a vital role in supporting America’s entrepreneurs, and helping them take their idea, and through hard work, persistence and willingness to take risks, turn that idea into a thriving, profitable, growing business.

Through the years, SBA has helped many of our best known companies – before they were corporate icons. Companies such as Intel, Outback Steakhouse, Apple, Ben & Jerry’s, Callaway Golf, Staples, Under Armour, Nike, and FedEx all received help from SBA on their way to success.

During National Small Business Week, we were honored to be able to recognize some of the entrepreneurs who have done this successfully, and have made their small business dreams a reality. Perhaps among them are the household names of the future.

Steve Preston is administrator of the U.S. Small Business Administration. President Bush has nominated Preston to serve as the next Secretary of Housing and Urban Development, the nomination awaits legislative confirmation.