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  3. Federal efforts to aid minority businesses began in the 1960’s when the Small Business Administration (SBA) began making federal

Federal efforts to aid minority businesses began in the 1960’s when the Small Business Administration (SBA) began making federal

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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 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 accelerate 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 increasingly important financing sources for minority enterprises.
    Ironically, MESBIC staffs, which usually consist of Hispanic and Black professionals, tend to approach investments 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 re-create the disappointing results of the original SBA approach.
The passage provides information that would answer which of the following questions?
选项 A、What was the average annual amount, in dollars, of minority business receipts before the SBA strategy was implemented?
B、What locations are considered to be unfavorable for minority businesses?
C、What is the current success rate for minority businesses that are capitalized by MESBIC’s?
D、How has the use of federal funding for minority businesses changed since the 1960’s?
答案D
解析 事实细节题。D项表述是本文能回答的问题。本文并未介绍实施SBA战略之前少数民族企业的年均收入，故排除A项；第一段第二句只指出地理位置不利是少数民族企业高失败率的原因之一，并未具体分析哪些地方对少数民族企业不利，故排除B项；原文只表明MESBIC措施较SBA措施而言更具成功潜力，并未指出目前的成功率，故排除C项。
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