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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.
Which of the following does the author cite to support the conclusion that the results of the SBA program were disappointing?
选项 A、The small number of new minority enterprises formed as a result of the program.
B、The small number of minority enterprises that took advantage of the management and technical assistance offered under the program.
C、The small percentage of the nation’s business receipts earned by minority enterprises following the programs implementation.
D、The small percentage of recipient minority enterprises that were able to repay federally guaranteed loans made under the program.
答案C
解析 事实细节题。第一段第二句提到，中小企业管理局项目的结果令人失望。第三句对此进行举例说明：甚至在该项目实行数年之后，少数民族企业收入还不到国民经济总收入的2％。C项表述符合文义，故为答案。该段第二句提到，该项目使许多少数民族创业者建立了新企业，A项表述与之相反，故排除；第二句提到的管理经验不足、企业选址不利和资金匮乏是该项目结果令人失望的原因，由此排除B项；原文未提及D项，故排除。
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