Passage 3 Federal efforts to aid [url=]minority businesses [/url][t1] began in the [url=]1960’s[/url][t2] when the Small Business Administration [url=](SBA)[/url][t3] began making federally guaranteed loans and govern- ment-sponsored management and technical assistance (5) available to minority business enterprises. While[url=]this[/url] program[t4] enabled many minority entrepreneurs to form new businesses, the results were [url=]disappointing[/url][t5] , since managerial inexperience, unfavorable locations, and capital shortages led to high failure rates.[url=] Even[/url][t6] 15 (10) years after the program was implemented, minority business receipts were not quite two percent of the national economy’s total receipts.15、16题 资助少数民族企业起源于1960年SBA。SBA结果不是很理想。甚至在15年后少数民族的收入都不及总收入的2%。 [url=]Recently[/url][t7] federal policymakers have adopted an approach intended to accelerate development of the (15) minority business sector by moving away from directly aiding small minority enterprises and toward supporting larger, growth-oriented minority firms through interme- diary companies. [url=]In this approach[/url][t8] , large corporations participate in the development of successful and stable (20) minority businesses by making use of government- sponsored venture capital.14题 The capital is used by a participating company to establish a Minority Enterprise Small Business Investment Company or [url=]MESBIC[/url][t9] . The MESBIC then provides capital and guidance to minority (25) 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 manage- ment techniques and more job-specific experience, as (30) well as substantial amounts of capital, gives those firms a greater opportunity to develop sound business founda- tions than does simply making general management experience and small amounts of capital available. [url=]Further,[/url][t10] since potential markets for the minority busi- (35) nesses 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 (40) the legal minimum of $500,000 [url=]in order to[/url][t11] generate sufficient income and to sustain the quality of manage- ment needed. MESBIC’c are now emerging as increas- ingly important financing sources for minority enter- prises. 近来,政府采用一种新方法资助少数民族企业,新方法从资助少数民族企业转向通过中间企业支持大的、增长为导向的企业。这种方法要求大企业参加。大企业用政府资助资金建立MESBIC. M为将来能成为大企业供应商或顾客的少数民族企业提供资金或管理支持。M帮助少数民族企业获得更好的管理能力,更多的资金等。进一步,由于市场已经存在,选址问题的危险更少。大企业提供的资金远高于政府规定的限额,M已成为少数民族企业的一项重要资金来源。 (45)[url=] [/url]Ironically[t12] , 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 (50) often still think mainly in terms of the “social responsi- bility approach” and thus seem to prefer deals that are riskier and less attractive than normal investment criteria would warrant. Such differences in viewpoint have pro- duced uneasiness among many minority staff members, (55) 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 fol- lowed, MESBIC directors may revert to policies likely to re-create the disappointing results of the original SBA approach. 讽刺的是,M员工比领导者更有实用性。M领导者认为应该依照社会责任,他们更喜欢那些更危险利益小的企业。M员工认为这样会导致SBA的结果 pragmatic [præɡ'mætik] adj. 实用主义的;实际的;国事的 prudent ['pru:dənt] adj. 谨慎的;节俭的;精明的 intermediate [,intə'mi:djət, -dieit] vi. 起媒介作用adj. 中间的,中级的n. 中间物;媒介
[t1]点出描述对象
[t2]1960年旧观点
[t3]记住缩写单词
[t4]表示对前面program的解释
[t5]态度词,注意
[t6]even进一步解释
[t7]新观点
[t8]解释前面的方法
[t9]缩写单词注意
[t10]进一步解释
[t11]注意考in order to 题
[t12]态度词, |