Small Business Administration Deputy Administrator Fred Hochberg today told the House Small Business Committee his agency's computer systems will be 2000 compliant, and that the SBA's main concern is to help the country's 23 million small businesses prepare for the deadline.
"We wanted to bring the seriousness of this problem to the attention of small business owners without creating undue panic," Hochberg said.
The agency has launched an information campaign with public forums, television commercials and information enclosed in bank statements. He said the SBA has suggested small businesses conduct a self-assessment test of possible problem areas, take immediate action to fix the problem and stay aware of developments in the so-called Y2K problem.
Meanwhile, Sen. Robert Bennett, R-Utah, chairman of a special Senate committee on the Y2K problem, told a National Press Club luncheon today that provisions that provide business with liability protection from computer-related lawsuits are "absolutely essential." Bennett supported President Clinton's appeal Tuesday for such legislation, and said Sen. Jon Kyl, R-Ariz., is now drafting a bill.
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