SBA ADMINISTRATOR TO STEP DOWN

Small Business Administration chief Karen Mills announced yesterday that she will not stay on for a second term. Mills, who has served as SBA Administrator since 2009, said she would remain until a successor is confirmed by the Senate. "Small businesses are now ready to go on the offensive. They are ready to expand to new markets, to scale their operations and to hire new workers. And I am confident that the SBA will be a driving force in their success for decades to come,” Mills said in a message to employees. In a statement, President Barack Obama praised Mills for her tenure. “Over the last four years, Karen has made it easier for small businesses to interact with the federal government by reducing paperwork and cutting through red tape. She has played a leading role in my Administration’s efforts to support start-ups and entrepreneurs. And she was instrumental in the passage of the Small Business Jobs Act. Because of Karen’s hard work and dedication, our small businesses are better positioned to create jobs and our entire economy is stronger. I want to thank Karen and am grateful for her service,” Obama said.