Enclosed is the Annual Report on Advisory Councils of the Small Business Administration Advisory Councils as outlined in the draft of OMB Circular A-63 and due February 1, 1973.

No new advisory council was created during the year and
none was terminated.

2+

John Jameson

Director, Office of Advisory Councils

Enclosure

1.

ANNUAL REPORT OF AGENCY ADVISORY COMMITTEES

Report Period: CY 1972

Small Business Administration (SBA) Small Business Investment Company (SBIC) National Advisory Council

3. Established 1958; charter renewal filed January 5, 1973

4.

5.

Section 8(b)(13) of the Small Business Act of 1953, as amended 15
U.S.C. 637 (b)(13) of the Small Business Investment Act of 1958

b. Authorized by law. The above citation states that the SBA may
"establish such advisory boards and committees as may be necessary
to achieve the purpose of... the Small Business Investment Act
of 1958 "

8.

Reports are the minutes of each meeting including recommendations
which are reviewed by SBA staff and reports on action taken are made

13. John Jameson, Director, Office of Advisory Councils, Small Business Administration, 141 'L' St., NW, Washington, D.C. 20416 (202) 382-6125

14. None

FUNCTIONS OF NATIONAL SMALL BUSINESS

INVESTMENT COMPANY ADVISORY

COUNCIL

The functions of the National SBIC Advisory Council are to:

a. Advise the Administrator and Associate Administrator for Operations and Investment concerning possible improvements in the effectiveness of current and proposed policies and programs.

b. Serve as a conduit of information from the SBIC industry, small business and the financial world regarding specific SBIC policies and programs, and their effectiveness in geographic areas as well as in certain industries. This will include advise as to local need and effectiveness of the SBIC program.

c. Recommend new policies or programs or implementation of existing programs.