Chairman Williams: “Defending Main Street: Combating CCP Threats to America’s Small Businesses.”

WASHINGTON, D.C. - Today, the House Committee on Small Business is holding a hearing titled "Defending Main Street: Combating CCP Threats to America's Small Businesses."

Chairman Roger Williams' opening statement as prepared for delivery:

Welcome to today's hearing titled "Defending Main Street: Combating CCP Threats to American Small Businesses."

First, I want to thank our witnesses for being here today and for sharing their expertise on this important issue. I also thank my colleagues for joining us as we examine the challenges facing America's small businesses in an increasingly competitive and complex global environment.

Small businesses are essential to the American economy. They drive innovation, create jobs, and strengthen our communities. From cutting-edge technology startups to family-owned manufacturers, small businesses play a vital role in driving America's economy and reinforcing our national security.

However, this vital engine of our economy is under threat.

The Chinese Communist Party has made it a priority to challenge the United States economically and strategically. In doing so, the CCP is exploiting every opportunity to target American innovation.

American entrepreneurs invest significant time, capital, and ingenuity into developing new products and technologies. Yet, far too often, those innovations are stolen, replicated overseas, and sold at a lower cost, undermining the very businesses that created them.

CCP linked investments in small businesses also raise serious concerns. Many small businesses, particularly startups, rely on outside capital to grow and scale. But when that capital comes from entities tied directly or indirectly to foreign adversaries, sensitive technologies and proprietary information risk being exposed and exploited.

In some cases, these investments are structured in ways that obscure their true origin, making it difficult for entrepreneurs to identify the potential risks.

Additionally, supply chain dependence on China continues to pose a serious threat. For decades, American businesses outsourced production to China due to low labor costs.

While this was efficient in the short term, it also created significant risks, especially for small businesses that lack the resources to shift production or diversify suppliers.

These challenges are not just economic; they are matters of national security.

Today's hearing is an opportunity to better understand how these threats impact small businesses and identify practical solutions. We must ensure that America's entrepreneurs have the tools they need to protect their innovations, secure trusted sources of capital, and build resilient supply chains.

If we fail to act, we risk losing not only our competitive edge, but also the ingenuity and entrepreneurial spirit that define our nation.

I look forward to hearing from our witnesses about their experiences and recommendations for how Congress can support and protect America's small businesses.

With that, I now yield to our distinguished Ranking Member from New York, Ms. Velázquez, for her opening remarks.

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