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3 Things You Should Know About Small Business: Feb. 8

NEW YORK ( MainStreet) -- What's happening in small business today?

1. House panel approves measure to reverse the Keystone XL Pipeline bill. Legislation that would reverse President Barack Obama's rejection of the Keystone XL oil sands pipeline was approved Tuesday in the House of Representatives' Energy and Commerce Committee.

The public has surely not seen the end of this controversial topic, despite Obama's rejection of the bill in January. Proponents of the Alberta, Canada-to-Texas pipeline say if approved it would bring thousands of jobs to the U.S., many to small energy-related businesses. Opponents see a minimal jobs boost and say the pipeline is an ecological nightmare to the farms in the pipeline's path.

The bill is being considered to be a part a broader House transportation and energy legislation or could even be attached to the next payroll tax cut extension bill.

2. What are you "not so good" at? The key to being a successful business owner is not creating a business out of your passion, but being able to identify your weaknesses, says Score contributor and small-business expert Rieva Lesonsky.

Figuring out what you're not good at -- even if it hurts the ego a little -- opens up the path to fill in your weaknesses, and not necessarily by hiring full-time staff. Outsourcing and using online tools are great ways to manage administrative areas where you may lack expertise.

3. Kauffman Foundation to present State of Entrepreneurship Address. The Ewing Marion Kauffman Foundation will host the 2012 State of Entrepreneurship Address A Roadmap for State Growth at the National Press Club in Washington, D.C., at noon Thursday. This year's topic is economic growth and what state governments can do to encourage economic growth and create jobs. The third annual address will discuss explore methods of promoting entrepreneurship, sparking innovation and accelerating economic growth through changes in state law and policy.

The address can be heard live at: http://www.visualwebcaster.com/statestartups

-- Written by Laurie Kulikowski in New York.

To contact Laurie Kulikowski, send an email to: Laurie.Kulikowski@thestreet.com.

To follow Laurie Kulikowski on Twitter, go to: http://twitter.com/#!/LKulikowski

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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