Pub. L. 95-507, tit. II, ch. 1, sec. 203

Sec. 203. Section 2(c) of the Small Business Act is amended by inserting “(1)” after “(c)” and by adding at the end thereof the following new paragraph: “(2)(A) With respect to the programs authorized by section 7(j) of this Act, the Congress finds— “(i) that ownership and control of productive capital is concentrated in the economy of the United States and certain groups, therefore, own and control little productive capital; “(ii) that certain groups in the United States own and control little productive capital because they have limited opportunities for small business ownership; “(iii) that the broadening of small business ownership among groups that presently own and control little productive capital is essential to provide for the well-being of this Nation by promoting their increased participation in the free enterprise system of the United States; 92 STAT. 1764 “(iv) that such development of business ownership among groups that presently own and control little productive capital will be greatly facilitated through the creation of a small business ownership development program, which shall provide services, including, but not limited to, financial, management, and technical assistance. “(v) that the power to let sole source Federal contracts pursuant to section 8(a) of the Small Business Act can be an effective procurement assistance tool for development of business ownership among groups that own and control little productive capital; and “(vi) that the procurement authority under section 8(a) of the Small Business Act shall be used only as a tool for developing business ownership among groups that own and control little productive capital. “(B) It is, therefore, the purpose of the programs authorized by section 7 (j) of this Act to— “(i) foster business ownership by individuals in groups that own and control little productive capital; and “(ii) promote the competitive viability of such firms by creating a small business and capital ownership development program to provide such available financial, technical, and management assistance as may be necessary.”.