The American Small Business League has been vocal over the past few months about President Obama's plans to help the small business community.

Earlier this year the group lashed out over his nod for the SBA chief, saying that Karen Gordon Mills would be too closely aligned with venture capitalists based on her background with a similar firm.

The ASBL has also voiced concern that Obama had flip-flopped on his stance of support for small business owners.

Now, the group has said that another former venture capitalist being appointed to an SBA position - this time chief counsel for the Office of Advocacy at the SBA - poses another threat to small businesses trying to vie for government contracts that could potentially be awarded to venture capital firms.

ASBL president Lloyd Chapman expressed the group's frustration in the following statement.

"In the middle of one of the worst economic disasters in history, [President Obama] is going to allow Fortune 500 firms and multi-millionaire venture capitalists to hijack federal contracts meant for the legitimate small businesses that create 97 percent of all new jobs in America," said Chapman.

Source:  http://capitalsolutionsbancorp.com/news/small-business-voice-fears-venture-capitalists-set-to-gain-20090529