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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.
According to the passage, the MESBIC approach differs from the SBA approach in that MESBIC’s________.
选项 A、seek federal contracts to provide markets for minority businesses
B、encourage minority businesses to provide markets for other minority businesses
C、attempt to maintain a specified rate of growth in the minority business sector
D、rely on the participation of large corporations to finance minority businesses
答案D
解析 事实细节题。第一段第一句指出，中小企业管理局采取的措施是直接向少数民族企业提供联邦担保的贷款、政府支持的管理和技术援助。第二段最后一句中指出，少数民族企业投资公司向有可能成为公司供应商或客户的少数民族企业提供资本和指导。由此可知，这两种方式的主要区别参与方式不同。D项表述符合文义，故为答案。文中并未提及“提供市场”的内容，故排除A项和B项；第二段第一句提到，成立少数民族投资公司的措施旨在加速少数民族商业的发展，而非试图保持少数民族商业的特定增长率，故排除C项。
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