The Program-Federal Government Helps Minority Business 阅读练习与讲义
<p> <span word="The">The</span> <span word="Program">Program</span>-<span word="Federal">Federal</span> <span word="Government">Government</span> <span word="Helps">Helps</span> <span word="Minority">Minority</span> <span word="Business">Business</span></p><p> <span word="Federal">Federal</span> <span word="efforts">efforts</span> <span word="to">to</span> <span word="aid">aid</span> <span word="minority">minority</span> <span word="businesses">businesses</span> <span word="began">began</span> <span word="in">in</span> <span word="the">the</span> 1960<span word="s">s</span> <span word="when">when</span> <span word="the">the</span> <span word="Small">Small</span> <span word="Business">Business</span> <span word="Administration">Administration</span> <span word="began">began</span> <span word="making">making</span> <span word="federally">federally</span> <span word="guaranteed">guaranteed</span> <span word="loans">loans</span> <span word="and">and</span> <span word="governmentsponsored">governmentsponsored</span> <span word="management">management</span> <span word="and">and</span> <span word="technical">technical</span> <span word="assistance">assistance</span> <span word="available">available</span> <span word="to">to</span> <span word="minority">minority</span> <span word="business">business</span> <span word="enterprises">enterprises</span>. <span word="While">While</span> <span word="this">this</span> <span word="program">program</span> <span word="enabled">enabled</span> <span word="many">many</span> <span word="minority">minority</span> <span word="entrepreneurs">entrepreneurs</span> <span word="to">to</span> <span word="form">form</span> <span word="new">new</span> <span word="businesses">businesses</span>, <span word="the">the</span> <span word="results">results</span> <span word="were">were</span> <span word="disappointing">disappointing</span>, <span word="since">since</span> <span word="managerial">managerial</span> <span word="inexperience">inexperience</span>, <span word="unfavorable">unfavorable</span> <span word="locations">locations</span>, <span word="and">and</span> <span word="capital">capital</span> <span word="shortages">shortages</span> <span word="led">led</span> <span word="to">to</span> <span word="high">high</span> <span word="failure">failure</span> <span word="rates">rates</span>. <span word="Even">Even</span> 15 <span word="years">years</span> <span word="after">after</span> <span word="the">the</span> <span word="program">program</span> <span word="was">was</span> <span word="implemented">implemented</span>, <span word="minority">minority</span> <span word="business">business</span> <span word="receipts">receipts</span> <span word="were">were</span> <span word="not">not</span> <span word="quite">quite</span> <span word="two">two</span> <span word="percent">percent</span> <span word="of">of</span> <span word="the">the</span> <span word="national">national</span> <span word="economys">economys</span> <span word="total">total</span> <span word="receipts">receipts</span>.</p><p> <span word="Recently">Recently</span> <span word="federal">federal</span> <span word="policymakers">policymakers</span> <span word="have">have</span> <span word="adopted">adopted</span> <span word="an">an</span> <span word="approach">approach</span> <span word="intended">intended</span> <span word="to">to</span> <span word="accelerate">accelerate</span> <span word="development">development</span> <span word="of">of</span> <span word="the">the</span> <span word="minority">minority</span> <span word="business">business</span> <span word="sector">sector</span> <span word="by">by</span> <span word="moving">moving</span> <span word="away">away</span> <span word="from">from</span> <span word="directly">directly</span> <span word="aiding">aiding</span> <span word="small">small</span> <span word="minority">minority</span> <span word="enterprises">enterprises</span> <span word="and">and</span> <span word="toward">toward</span> <span word="supporting">supporting</span> <span word="large">large</span>, <span word="growth">growth</span> <span word="oriented">oriented</span> <span word="minority">minority</span> <span word="firms">firms</span> <span word="through">through</span> <span word="intermediary">intermediary</span> <span word="companies">companies</span>. <span word="In">In</span> <span word="this">this</span> <span word="approach">approach</span>, <span word="large">large</span> <span word="corporations">corporations</span> <span word="participate">participate</span> <span word="in">in</span> <span word="the">the</span> <span word="development">development</span> <span word="of">of</span> <span word="successful">successful</span> <span word="and">and</span> <span word="stable">stable</span> <span word="minority">minority</span> <span word="businesses">businesses</span> <span word="by">by</span> <span word="making">making</span> <span word="use">use</span> <span word="of">of</span> <span word="government">government</span>-<span word="sponsored">sponsored</span> <span word="venture">venture</span> <span word="capital">capital</span>. <span word="The">The</span> <span word="capital">capital</span> <span word="is">is</span> <span word="used">used</span> <span word="by">by</span> <span word="a">a</span> <span word="participating">participating</span> <span word="company">company</span> <span word="to">to</span> <span word="establish">establish</span> <span word="a">a</span> <span word="Minority">Minority</span> <span word="Enterprise">Enterprise</span> <span word="Small">Small</span> <span word="Businesses">Businesses</span> <span word="that">that</span> <span word="have">have</span> <span word="potential">potential</span> <span word="to">to</span> <span word="become">become</span> <span word="future">future</span> <span word="suppliers">suppliers</span> <span word="of">of</span> <span word="customers">customers</span> <span word="of">of</span> <span word="the">the</span> <span word="sponsoring">sponsoring</span> <span word="company">company</span>.</p><p> <span word="MESBICs">MESBICs</span> <span word="are">are</span> <span word="the">the</span> <span word="result">result</span> <span word="of">of</span> <span word="the">the</span> <span word="belief">belief</span> <span word="that">that</span> <span word="providing">providing</span> <span word="established">established</span> <span word="firms">firms</span> <span word="with">with</span> <span word="easier">easier</span> <span word="access">access</span> <span word="to">to</span> <span word="relevant">relevant</span> <span word="management">management</span> <span word="techniques">techniques</span> <span word="and">and</span> <span word="more">more</span> <span word="job">job</span>-<span word="specific">specific</span> <span word="experience">experience</span>, <span word="as">as</span> <span word="well">well</span> <span word="as">as</span> <span word="substantial">substantial</span> <span word="amounts">amounts</span> <span word="of">of</span> <span word="capital">capital</span>, <span word="gives">gives</span> <span word="those">those</span> <span word="firms">firms</span> <span word="a">a</span> <span word="greater">greater</span> <span word="opportunity">opportunity</span> <span word="to">to</span> <span word="develop">develop</span> <span word="sound">sound</span> <span word="business">business</span> <span word="foundations">foundations</span> <span word="than">than</span> <span word="does">does</span> <span word="simply">simply</span> <span word="making">making</span> <span word="general">general</span> <span word="management">management</span> <span word="experience">experience</span> <span word="and">and</span> <span word="small">small</span> <span word="amounts">amounts</span> <span word="of">of</span> <span word="capital">capital</span> <span word="available">available</span>. <span word="Further">Further</span>, <span word="since">since</span> <span word="potential">potential</span> <span word="markets">markets</span> <span word="for">for</span> <span word="the">the</span> <span word="minority">minority</span> <span word="businesses">businesses</span> <span word="already">already</span> <span word="exist">exist</span> <span word="through">through</span> <span word="the">the</span> <span word="sponsoring">sponsoring</span> <span word="companies">companies</span>, <span word="the">the</span> <span word="minority">minority</span> <span word="businesses">businesses</span> <span word="face">face</span> <span word="considerably">considerably</span> <span word="less">less</span> <span word="risk">risk</span> <span word="in">in</span> <span word="terms">terms</span> <span word="of">of</span> <span word="location">location</span> <span word="and">and</span> <span word="market">market</span> <span word="fluctuation">fluctuation</span>. <span word="Following">Following</span> <span word="early">early</span> <span word="financial">financial</span> <span word="and">and</span> <span word="operating">operating</span> <span word="problems">problems</span>, <span word="sponsoring">sponsoring</span> <span word="corporations">corporations</span> <span word="began">began</span> <span word="to">to</span> <span word="capitalize">capitalize</span> <span word="MESBICs">MESBICs</span> <span word="far">far</span> <span word="above">above</span> <span word="the">the</span> <span word="legal">legal</span> <span word="minimum">minimum</span> <span word="of">of</span> $500,000 <span word="in">in</span> <span word="order">order</span> <span word="to">to</span> <span word="generate">generate</span> <span word="sufficient">sufficient</span> <span word="income">income</span> <span word="and">and</span> <span word="to">to</span> <span word="sustain">sustain</span> <span word="the">the</span> <span word="quality">quality</span> <span word="of">of</span> <span word="management">management</span> <span word="needed">needed</span>. <span word="MESBICs">MESBICs</span> <span word="are">are</span> <span word="now">now</span> <span word="emerging">emerging</span> <span word="as">as</span> <span word="increasingly">increasingly</span> <span word="important">important</span> <span word="financing">financing</span> <span word="sources">sources</span> <span word="for">for</span> <span word="minority">minority</span> <span word="enterprises">enterprises</span>.</p>
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