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

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

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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 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.
The author’ s primary objective in the passage is to
选项 A、disprove the view that federal efforts to aid minority businesses have been ineffective.
B、explain how federal efforts to aid minority businesses have changed since the 1960’s.
C、establish a direct link between the federal efforts to aid minority businesses made before the 1960’ s and those made in the 1980’s.
D、analyze the basis for the belief that job-specific experience is more useful to minority businesses than is general management experience.
E、argue that the "social responsibility approach" to aiding minority businesses is superior to any other approach.
答案B
解析 作者写作目的：A．证明一个观点错误：联邦资助少数民族企业是无效的。原文没有反驳别的观点的内容。B．正确。解释联邦资助少数民族企业的计划自60年代以来怎么变。即原文所说从SBA到MESBIC的变化。C．未提“in the 1980’s”的内容。D．“job—specific experience”和"general management experience"的比较在原文中未出现。E．未提哪种方式和其他方式相比是“superior”。
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