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  3. Federal efforts to aid minority businesses began in the 1960 s when the Smal

Federal efforts to aid minority businesses began in the 1960 s when the Smal

游客2024-01-13  33
问题     Federal efforts to aid minority businesses began in the 1960 s when the Small Business Administration(SBA)began making federally guaranteed loans and government-sponsored management and technical assistance available to minority business enterprises. While this program enabled many minority entrepreneurs to form new businesses, the results were disappointing, since managerial inexperience, unfavorable locations, and capital shortages led to high failure rates. Even 15 years after the program was implemented, minority business receipts were not quite two percent of the national economy’ s total receipts.
    Recently federal policymakers have adopted an approach intended to acceler- ate development of the minority business sector by moving away from directly aiding small minority enterprises and toward supporting larger, growth-oriented minority firms through intermediary companies. In this approach, large corporations participate in the development of successful and stable minority businesses by making use of government-sponsored venture capital. The capital is used by a participating company to establish a Minority Enterprise Small Business Investment Company or MESBIC. The MESBIC then provides capital and guidance to minority businesses that have potential to become future suppliers or customers of the sponsoring company.
    MESBIC’s are the result of the belief that providing established firms with easier access to relevant management techniques and more job-specific experience, as well as substantial amounts of capital, gives those firms a greater opportunity to develop sound business foundations than does simply making general management experience and small amounts of capital available. Further, since potential markets for the minority businesses already exist through the sponsoring companies, the minority businesses face considerably less risk in terms of location and market fluctuation. Following early financial and operating problems, sponsoring corporations began to capitalize MESBIC’s far above the legal minimum of $ 500,000 in order to generate sufficient income and to sustain the quality of management needed. MESBIC’s are now emerging as in- creasingly important financing sources for minority enterprises.
    Ironically, MESBIC staffs, which usually consist of Hispanic and Black professionals, tend to approach invest- ments in minority firms more pragmatically than do many MESBIC directors, who are usually senior managers from sponsoring corporations. The latter often still think mainly in terms of the "social responsibility approach" and thus seem to prefer deals that are riskier and less attractive than normal investment criteria would warrant. Such differences in viewpoint have produced uneasiness among many minority staff members, who feel that minority entrepreneurs and businesses should be judged by established business considerations. These staff members believe their point of view is closer to the original philosophy of MESBIC’s and they are concerned that, unless a more prudent course is followed, MESBIC directors may revert to policies likely to recreate the disap- pointing results of the original SBA approach. [br] The author refers to the "financial and operating problems"(lines 53-54)encountered by MESBIC’s primarily in order to
选项 A、broaden the scope of the discussion to include the legal considerations of funding MESBIC’s through sponsoring companies.
B、call attention to the fact that MES-BIC s must receive adequate funding in order to function effectively.
C、show that sponsoring companies were willing to invest only $ 500, 000 of government-sponsored venture capital in the original MESBIC’s.
D、compare SBA and MESBIC limits on minimum funding.
E、refute suggestions that MESBIC’ s have been only marginally successful.
答案 B
解析 作者提到MESBIC所遇到的财政和运行问题是为了：A．扩大讨论范围，包括给MESBIC提供贷款的法律因素。无。B．正确。提起注意，MESBIC必须有足够资金来维持正常运转。原文此处提出此问题之后，给出的解决法即是各公司投资额很高，这才能保证管理的质量，即此选定内容。C．指出投资公司只愿将国家风险资金中的50万美元投入最初MESBIC计划之中。无。50万是国家底限，公司一般都超过了它。D．比较SBA和MESBIC的投资底限。无。E．反驳一个说法：MESBIC只是部分成功。提到这个问题显然不是为了说明MES—BIC的成功。
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