Small Business & Entrepreneurship
Senator Shaheen knows that small businesses are the engine of New Hampshire’s economy – and that’s why she chose to serve on the Senate Small Business Committee. Over 96 percent of New Hampshire’s employers are small businesses. To put this in perspective, New Hampshire has enough small business employees to fill up Fenway Park almost six times.
As the former owner and manager of a small retail business, Senator Shaheen knows what it’s like to worry about meeting payroll and inventory costs to keep a business going. And as the former Governor of New Hampshire, Senator Shaheen understands it is small business, not the government, that creates jobs and drives new ideas and innovation. But she also believes government has a vital role to play in addressing the challenges small businesses face, especially in difficult economic times.
As a member of the Small Business Committee, Senator Shaheen helped craft the Small Business Jobs Act, which has helped hundreds of small businesses in New Hampshire by providing them with tax breaks, access to credit, and exporting opportunities. She also created the Small Business Advisory Council in 2009. She meets with them to hear about and help with the challenges and opportunities confronting New Hampshire small businesses.
Ensuring Access to Credit
The credit crunch has hit small businesses especially hard. Too many Main Street business owners today are relying on credit cards with exorbitant interest rates to obtain the working capital they need to keep their businesses going. That’s why Senator Shaheen has made it a priority to help get credit flowing to the small businesses that are the lifeblood of New Hampshire’s economy.
The Small Business Jobs Act has encouraged more lending to small businesses. By waiving loan fees and increasing the guarantees on Small Business Administration (SBA) loans, the Small Business Jobs Act had an immediate impact. In the first three months after its enactment, it increased the number of loans to small businesses through the SBA by over 350% in New Hampshire. Combined with the Recovery Act, the Small Business Jobs Act opened up credit for hundreds of small businesses in New Hampshire when the credit crunch was at its worst.
In addition, Senator Shaheen worked to enhance the SBA’s Express loan program. The Small Business Jobs Act contained a provision authored by Senator Shaheen that raised loan limits for this program, which cuts red tape and puts working capital into the hands of businesses quickly.
The Small Business Jobs Act also set up two funds designed to get credit into the hands of small businesses – one to help community banks lend to Main Street businesses, and another to support state lending programs that are tailored to the business needs of each state.
Senator Shaheen will continue to monitor the availability of credit to small businesses and ensure that they have the support they need to grow. She also created the Small Business Advisory Council in 2009. She meets with them to hear about and help with the challenges and opportunities confronting New Hampshire small businesses.
Helping Small Businesses Export
Exports represent a tremendous opportunity for economic growth in the United States. Even in our difficult economic climate, exports have been a bright spot for businesses in New Hampshire. In 2010, New Hampshire led all states in the nation in export growth by increasing its overseas sales by 45 percent. That’s more than double the national average.
Senator Shaheen has been a leader in helping New Hampshire businesses sell their products and services to international markets and find new markets. She was the first New Hampshire Governor to lead a trade delegation outside of North America.
America makes the best, most innovative products, yet while 95 percent of the world’s consumers are overseas, only one percent of small businesses export.
In the Senate, Senator Shaheen has continued her efforts to help small businesses export. She sponsored legislation to strengthen Small Business Administration programs that help small businesses access foreign markets. This legislation, which provides more access to export loans and counseling programs, was included in the Small Business Jobs Act that became law in 2010. As the chairman of the Senate Foreign Relations Subcommittee on European Affairs, she convened a hearing to explore how to enhance trade with Europe. She is also the cosponsor of legislation to reauthorize and strengthen the Overseas Private Investment Corporation, which helps U.S. businesses invest overseas and promotes economic development in new and emerging markets.
Senator Shaheen has also held several events to help New Hampshire businesses interested in selling their products overseas. She hosted the Granite State Export Forum in Nashua to help connect small- and medium-sized businesses from across the state with resources to help them sell their products overseas, increase their bottom line, and create jobs in New Hampshire. She has brought in the heads of export assistance agencies, like the Export-Import Bank, to meet with small businesses looking to export.
Senator Shaheen will continue focusing on ways to help small businesses take advantage of export opportunities to grow their businesses, hire new workers, and help the American economy stay competitive in the 21st century.
Small Business Innovation – Helping Entrepreneurs Grow
Senator Shaheen believes America’s future lies in maintaining the cutting edge in science and technology, creating new jobs in new industries, and giving older industries the tools they need to compete in the global marketplace.
New Hampshire’s high-tech economy relies on small, innovative companies that create the products that will keep America competitive. That’s why Senator Shaheen has authored legislation to extend the Small Business Innovation Research program, or SBIR.
SBIR, first created by New Hampshire Senator Warren Rudman in 1982, directs existing federal research and development dollars to small companies and helps them develop products for commercial markets. SBIR has been critical to the success of many small, innovative companies in New Hampshire that provide 21st-century jobs in the state. Senator Shaheen has fought for a long-term reauthorization of the program to give businesses and federal agencies certainty in planning their research and development.
Senator Shaheen also supports expanding the federal research and development tax credit and making it permanent.
Finally, Senator Shaheen believes that to stay competitive in the 21st century, we need a 21st century workforce. She sponsored legislation to encourage more students to study science, technology, engineering, and math (STEM) because she believes that giving more students access to this kind of education is essential to ensuring that the U.S. workforce remains competitive in a global economy. To read more, click here.
Tax Relief for Small Businesses
To help businesses struggling in the recession, Senator Shaheen worked to cut taxes on small businesses. She voted to allow the hardest hit small businesses to obtain substantial tax refunds by expanding a tax provision that lets businesses use losses in the current year to reduce their tax bills in previous, profitable years. Senator Shaheen also voted to increase the tax deduction small businesses can take for investing in the equipment and machinery they need to grow.
Healthcare Costs
New Hampshire small businesses are struggling with the high cost of healthcare. Senator Shaheen supported comprehensive healthcare reform that expands access to coverage and helps control the cost of healthcare. In addition, she supported the Small Business Jobs Act, which allowed the self-employed to claim a tax deduction for healthcare benefits. For more information on Senator Shaheen’s position on healthcare, click here.
Latest
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August 28, 2019
Shaheen Hosts U.S. Senate Hearing in Concord on Impact of Online Sales Tax Collection Requirement on NH Small Businesses
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June 27, 2017
Shaheen: Small Businesses Need Cybersecurity Training, Protection
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June 08, 2017
Shaheen Showcases Granite State in Washington DC
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May 01, 2017
Senator Shaheen Celebrates National Small Business Week 2017
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February 14, 2017
Shaheen Statement on Confirmation of Linda McMahon as Small Business Administrator
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January 24, 2017
In Confirmation Hearing, Shaheen Receives Commitment from Linda McMahon to Preserve the Small Business Administration as a Standalone Agency
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January 13, 2017
Shaheen Statement on Report Showing Importance of Affordable Care Act for New Hampshire’s Small Business Owners & Self-Employed Workers
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January 10, 2017
Shaheen Statement Following Her Meeting with Linda McMahon, Nominee for Small Business Administrator
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December 12, 2016
Shaheen Calls on FBI Director to Support Small Businesses Targeted by Fake News
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December 07, 2016
Shaheen Statement on the Nomination of Linda McMahon to Lead the Small Business Administration
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November 30, 2016
Shaheen Applauds Inclusion of Language to Extend the SBIR/STTR Programs for Five Years
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November 17, 2016
Shaheen Statement on Senate Small Business & Entrepreneurship Committee
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November 14, 2016
Shaheen Highlights New HUBZone Designation for Sullivan and Grafton Counties, Helping NH Small Businesses Compete for Government Contracts
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October 03, 2016
Shaheen, Hassan Announce Grant to Boost New Hampshire Small Business Exports
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March 10, 2015
SHAHEEN STATEMENT ON REINTRODUCTION OF INTERNET SALES TAX LEGISLATION
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June 18, 2014
SHAHEEN, NEW HAMPSHIRE’S CORFIN INDUSTRIES TOUT SUCCESS OF EXPORT PROGRAM AT SMALL BUSINESS COMMITTEE HEARING
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June 18, 2014
SHAHEEN, CANTWELL AND GILLIBRAND INTRODUCE BILL SUPPORTING WOMEN-OWNED SMALL BUSINESSES
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May 14, 2014
SHAHEEN REFILES INTERNET SALES TAX AMENDMENT TO PROTECT NEW HAMPSHIRE BUSINESSES
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May 12, 2014
SHAHEEN STATEMENT ON NATIONAL SMALL BUSINESS WEEK
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March 12, 2014
SHAHEEN: ONLINE SALES TAX WOULD HURT NEW HAMPSHIRE SMALL BUSINESSES
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August 19, 2013
SHAHEEN, AYOTTE BRING TOGETHER SMALL BUSINESS LEADERS FOR FIELD HEARING ON INNOVATION, RESEARCH AND DEVELOPMENT
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June 17, 2013
SHAHEEN STATEMENT ON NATIONAL SMALL BUSINESS WEEK
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November 29, 2012
SHAHEEN HIGHLIGHTS WAYS TO SUPPORT SMALL BUSINESSES AT SENATE HEARING
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August 17, 2012
SHAHEEN AND SBA CHIEF KAREN MILLS DISCUSS JOB CREATION DURING TOUR OF NH BUSINESSES
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June 07, 2012
LANDRIEU, SHAHEEN INTRODUCE BILL TO INCREASE SMALL BUSINESS EXPORTS
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March 15, 2012
SHAHEEN CALLS FOR EXTENSION OF CRITICAL SMALL BUSINESS PROGRAMS
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February 21, 2012
SHAHEEN HIGHLIGHTS JOB CREATION, ENERGY EFFICIENCY AT OPENING OF NEW HIGH-TECH MANUFACTURER IN HOLLIS
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January 11, 2012
SHAHEEN: EXTENSION OF SMALL BUSINESS PROGRAM IS GOOD NEWS FOR NEW HAMPSHIRE, NATIONAL ECONOMIES
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December 15, 2011
SHAHEEN APPLAUDS FINAL PASSAGE OF DEFENSE AUTHORIZATION BILL
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December 13, 2011
SHAHEEN: CRITICAL SMALL BUSINESS INNOVATION PROGRAM IS CLOSER TO LONG-TERM EXTENSION
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November 29, 2011
RENEWAL OF CRITICAL SMALL BUSINESS RESEARCH PROGRAM ADVANCES
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October 24, 2011
SENS. SHAHEEN, BROWN LEAD COALITION TO PRESERVE CRITICAL SMALL BUSINESS PROGRAMS
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September 27, 2011
SHAHEEN ANNOUNCES GRANT TO HELP SMALL BUSINESSES INCREASE EXPORTS AND REACH NEW MARKETS
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September 16, 2011
SHAHEEN: EXPORTS KEY TO JOB CREATION
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September 09, 2011
SHAHEEN ANNOUNCES $460,000 FOR DURHAM-BASED GEOSPATIAL TECHNOLOGY FIRM
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August 31, 2011
SHAHEEN ANNOUNCES GRANT TO SUPPORT JOB GROWTH THROUGH INNOVATIVE STARTUPS
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August 11, 2011
SHAHEEN AND AYOTTE PROMOTE EXPORTING AS A WAY TO GROW SMALL BUSINESSES AND CREATE JOBS
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August 03, 2011
SHAHEEN ANNOUNCES $24 MILLION FOR NEW HAMPSHIRE SMALL BUSINESS LOANS
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July 11, 2011
SHAHEEN ANNOUNCES $13 MILLION IN FUNDING TO HELP NEW HAMPSHIRE SMALL BUSINESSES ACCESS CREDIT
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June 20, 2011
SHAHEEN WELCOMES NEW HAMPSHIRE BUSINESSES TO WASHINGTON FOR SHOWCASE
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June 17, 2011
SHAHEEN MEASURES ON JOBS, SHIPYARD, NATIONAL GUARD, AND THE ELIMINATION OF WASTEFUL PROGRAMS INCLUDED IN NATIONAL DEFENSE AUTHORIZATION BILL
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June 15, 2011
SHAHEEN WELCOMES NEW HAMPSHIRE BUSINESSES TO WASHINGTON FOR SHOWCASE
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June 15, 2011
SHAHEEN HOSTS INAUGURAL NEW HAMPSHIRE BUSINESS DAY IN WASHINGTON
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June 14, 2011
SHAHEEN ANNOUNCES HER PROPOSAL TO EXTEND CRITICAL SMALL BUSINESS DEFENSE PROGRAM INCLUDED IN SENATE ARMED SERVICES BILL
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June 01, 2011
SHAHEEN: LONG TERM AUTHORIZATION OF SMALL BUSINESS PROGRAM IS CRUCIAL
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May 26, 2011
SHAHEEN APPLAUDS FEDERAL AGENCY PLANS TO ELIMINATE UNNECESSARY BUSINESS REGULATIONS
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May 16, 2011
SHAHEEN OUTLINES EFFORTS TO SUPPORT SMALL BUSINESS, BOOST AMERICAN COMPETITIVENESS AT MANCHESTER SMALL BUSINESS KICK-OFF
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May 04, 2011
SHAHEEN: DELAY OF SMALL BUSINESS BILL IS BAD FOR NH ECONOMY, NATIONAL SECURITY
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April 22, 2011
SHAHEEN PRESSES FOR RESOLUTION OF TRADE DISPUTE WITH CANADA
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April 21, 2011
SHAHEEN RENEWS CALL FOR SUPPORT OF CRITICAL SMALL BUSINESS INNOVATION PROGRAM
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April 08, 2011
SHAHEEN: UNNECESSARY SHUTDOWN WILL HURT NEW HAMPSHIRE ECONOMY
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March 30, 2011
SHAHEEN: SMALL BUSINESS JOBS BILL CRITICAL TO AMERICAN ECONOMY
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March 02, 2011
Shaheen listens to local concerns
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March 01, 2011
Buyer of Gorham mill plans major investment in facility
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January 14, 2011
In Somersworth: Shaheen lauds local business as federal money at work
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November 22, 2010
A welcomed move
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November 18, 2010
Shaheen co-sponsors 1099 expansion repeal
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November 10, 2010
Efforts to reform export controls detailed
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July 28, 2010
Shaheen talks small business in Meredith
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July 28, 2010
Shaheen: Small Business Jobs bill will ease access to credit, help create jobs
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July 03, 2010
Stimulus grant to improve Internet service, create jobs in NH
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June 10, 2010
Seacoast companies to tout N.H. tourism in Washington, D.C.
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June 09, 2010
THURSDAY: SHAHEEN TO WELCOME NEW HAMPSHIRE BUSINESSES TO DC
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June 08, 2010
SHAHEEN FLOOR REMARKS ON THE AMERICAN JOBS AND CLOSING TAX LOOPHOLES ACT OF 2010
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May 09, 2010
Wall Street reform is critical to Main Street
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May 04, 2010
Job creation touted at Thermo Fisher
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April 23, 2010
SHAHEEN, INDIAN AMBASSADOR DISCUSS EXPANDING TRADE WITH NEW HAMPSHIRE BUSINESS LEADERS
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April 16, 2010
SHAHEEN CALLS FOR INCREASED SUPPORT FOR NEW HAMPSHIRE DAIRY FARMERS
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March 30, 2010
Shaheen hears small business owners' woes
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March 30, 2010
Shaheen talks health care tax credits with business owners in Portsmouth
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March 17, 2010
SHAHEEN TO HOST GRANITE STATE EXPORT FORUM
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March 02, 2010
SHAHEEN: STOP PLAYING POLITICAL GAMES WITH THE LIVES OF THE AMERICAN PEOPLE
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February 26, 2010
SHAHEEN: SMALL BUSINESSES CRUCIAL TO JOB CREATION, ECONOMIC RECOVERY
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February 25, 2010
Rising Insurance Rates Burden NH Business Owners
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February 24, 2010
SHAHEEN: WELLPOINT’S NEW HAMPSHIRE RATE HIKES ARE WHY WE NEED REFORM NOW
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January 29, 2010
Job creation, stabilization key to pulling out of slump
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December 18, 2009
GREGG AND SHAHEEN ANNOUNCE $825,000 FOR NEW HAMPSHIRE FISHERMEN AND LOBSTERMEN SIGNED INTO LAW
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December 15, 2009
SHAHEEN SECURES $120,000 FOR AMOSKEAG BUSINESS INCUBATOR IN MANCHESTER
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December 09, 2009
Small Businesses Wait for Bigger Slice of Stimulus Pie
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July 13, 2009
Business incubator helps startups grow
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June 30, 2009
400-plus business leaders attend Sen. Shaheen's fair
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May 20, 2009
Shaheen, small-business group tour city company
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May 20, 2009
Seacoast business leaders named to Sen. Shaheen business council
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May 04, 2009
Shaheen helps get credit for small businesses
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May 01, 2009
AT SHAHEEN’S URGING, SBA MAKES CREDIT AVAILABLE TO MORE SMALL BUSINESSES BY EXPANDING LOAN SIZE STANDARDS
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March 19, 2009
Sen. Shaheen invites local business owner to share story, ideas
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March 16, 2009
Shaheen praises Obama plan to aid small businesses
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March 14, 2009
Shaheen focuses on small business aid at White House
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February 18, 2009
Shaheen to talk business, credit crisis in Portsmouth
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January 23, 2009
Shaheen appointed to committee on small business