More Resources in Panhandle Geared to Small Business - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

More Resources in Panhandle Geared to Small Business

Elise Preston
NewsChannel 10

AMARILLO, TX - Billions of dollars could soon funnel into small businesses as part of an act just passed by the senate.  However,  abundant resources here may stop Panhandle small businesses from dipping in that pool.

The panhandle has one the highest concentrations of small businesses nationwide.  That's according to business experts we caught up with at business boot camp this morning.

They tell us, resources like the Small Business Development Corporation, the Entrepreneur Alliance and conservative banks help keep local business growing.

"There are so many resources geared to small businesses,  everyone's got an interest in economic development." P.J. Pronger with the Entrepreneur Alliance tells NewsChannel 10

While panhandle ventures may be doing well, many across the nation are suffering.

As it stands right now, the Small Business Jobs Act would pump 30 billion dollars into community banks for loans.  It would also provide billions of dollars in tax breaks to small businesses and provide grants for state lending programs.

Both Texas US senators, Kay Bailey Hutcheson and John Cornyn voted down the proposal.

Senator Cornyn says small businesses are the backbone of our economy, but describes the act as a "wolf in sheep's clothing", because more tax increases than tax breaks are tied to this proposal.

The bill now heads back to the house, where it is expected to pass and be signed into law.

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