On October 8, 1940, the Senate established the Special Committee to Study and Survey Problems of Small Business Enterprises (also known as the Special Committee to Study Problems of American Small Business). On January 31, 1949, this special committee was terminated, but on February 20, 1950, the Select Committee on Small Business was created with approval of Senate Resolution 58 during the 81st Congress. That first committee had just nine members. It was the first select committee created by the Senate that still operates today.