New Census Data shows that the Biden-Harris Administration has maintained a record pace for small business applications
Washington D.C. (GLOBE NEWSWIRE), January 17, 2023 Administrator Isabella Casillas Guzman, Head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, issued the following statement in response to data released by the U.S. Census Bureau:
“This new Census data shows the Biden-Harris small business boom continued in 2022, with a rapid pace of new business applications second only to the record set in 2021. Since the start of this administration, small business applications reached a high of 10.5 million, the most in any two years in our nation’s history. This report is even more good news for our economy, with steady and stable growth, as well as unprecedented investments in infrastructure, manufacturing, and R&D, bringing abundant opportunities for America’s entrepreneurs.
“When President Biden took office, hundreds of thousands of businesses were fighting to stay open. Americans were able to create new jobs and businesses at record levels through their historic investment in economic recovery. This trend continues today.
“The SBA and the Biden-Harris Administration continue to retool vital federal small business support programs and services to expand access to capital, provide much-needed trusted networks for technical assistance and training, and help America’s entrepreneurs seek new revenue opportunities from transformational legislation including the President’s Infrastructure Investment and Jobs Act.”
The U.S. Census Bureau’s new data comes on the heels of recent analysis from independent academic researchers showing rising consumer confidence as inflation cooled for the sixth consecutive month.
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About the U.S. Small Business Administration
The U.S. Small Business Administration is a resource that helps Americans achieve their dream of owning a business. The SBA is the sole resource and voice for small businesses and entrepreneurs, backed by the strength and power of the federal government. It provides the support and resources that small business owners need to grow, expand, or start their businesses or recover after a disaster. Through a network of SBA-affiliated field offices, partnerships with public and private entities, it provides services. For more information, visit www.sba.gov.
CONTACT: Press Office United States Small Business Administration [email protected]
