Congressman Cedric Richmond

Representing the 2nd District of Louisiana


November 17, 2011
Press Release

WASHINGTON, DC- Today, Congressman Cedric Richmond (LA-02) highlighted the need for Congress to pass legislation that invests in youth entrepreneurship initiatives today during the “Champions for Young Entrepreneurs” press conference. The press conference, a part of Global Entrepreneurship week, brought together supportive policymakers and young entrepreneurs from across the country.

“For the first time in the history of this great country of ours, concerns are growing that the current generation of young people will fare worse economically than their parents,” Congressman Richmond said in his prepared remarks. “In this environment young people are having trouble finding work so we should encourage them by helping them turn their skills into businesses.”

Rep. Richmond recently introduced The Microenterprise and Youth Development Act (H.R. 2809) which would help boost youth entrepreneurship by creating an Office of Youth Entrepreneurship at the Small Business Administration. The office would provide young innovators with the professional and technical support they need to grow their businesses.

The legislation also calls for the Office of Youth Entrepreneurship to work with the Department of Education to research and recommend legislation to Congress that would create a youth entrepreneurship loan forgiveness program for federal student loans.

The Microenterprise and Youth Development Act (H.R. 2809) aims to address the critical issues of youth unemployment and slow growth in this country. The legislation is supported by the Young Invincibles, a national organization working to promote policies that will create an economic environment in which young small business owners can thrive.

“Our young people are national assets. We should listen to what their needs are, so that we can provide them with the support they deserve for them to succeed,” Congressman Richmond said.