State’s CAPCO Program Generates Follow-On Funds
Small businesses in Texas look to their state’s CAPCO program:
In this time of unprecedented job losses, we are in need of economic development programs that can create jobs in the state of Texas.
When thinking of how best to address this problem, it’s important to note that according to the United States Small Business Administration, small businesses have created 60 to 80 percent of the net new jobs in the U.S. over the past dozen years.
Small businesses, however, are finding it tougher than ever in today’s lending environment to raise the necessary capital to sustain and grow their businesses. In fact, the National Venture Capital Association reports that venture investing in early-stage businesses is down 71 percent over the last 12 months. This has created a funding “gap” that is preventing the growth of small businesses, and subsequently hurting job creation.