On March 3, President Biden led his first State of the Union address. The annual address was heavy on economic issues, with the President saying fighting inflation was his top priority.
Biden promised to crack down on shipping companies that had taken advantage of the pandemic to raise prices. He also extolled a resurgence of manufacturing, while highlighting some of his divisions with the business community.
SBA Administrator Responds to Biden’s State of the Union
The Small Business Administration (SBA) administrator, Isabella Casillas Guzman, responded to President Biden’s State of the Union address.
Paying thanks to the Biden Cabinet’s American Rescue Plan and vaccination program, the head of SBA, noted how entrepreneurship is on the rise in the US.
“Tonight, President Biden delivered a bold vision to the American people of an economy centered around families, workers, and small businesses. Our Union is strong and growing even in the face of major challenges, thanks to the hard work of the American people and significant policy achievements in the first year of the Biden-Harris Administration.
“Thanks to President Biden’s American Rescue Plan and a successful vaccination program, entrepreneurship has rebounded and is on the rise, and our economy is growing at the fastest pace in nearly 40 years.
More Americans are Opening Businesses
The SBA administrator spoke of how more Americans are opening new businesses, with more than 5.4 million being opened in 2021 alone.
“And our Main Streets and industrial and manufacturing centers are open and flourishing. And as a result of the Infrastructure Investment and Jobs Act, small businesses will soon have access to new contracting opportunities to help rebuild our nation’s roads and bridges, enabling us to move goods faster to market and strengthen our supply chains,” she said.
Isabella Casillas Guzman continued to speak of the plans in motion aimed at creating greater resilience and sustainability for small businesses.
“While the historic economic progress made is evident, the President has laid out a plan to continue rebuilding our economy towards resilience and sustainability and lowering costs for American families and small businesses.”
Helping Small Businesses Thrive
The SBA head added that she looks forward to working with President Biden and the Administration to continue “promoting policies that will help small businesses thrive, strengthen our supply chains, and eliminate barriers to good-paying jobs for American workers.”
Casillas Guzman also touched on the importance of promoting fair competition that enables small business owners to realistically compete with larger companies for not only US consumers, but for consumers around the world.
“The future for American small businesses looks bright and at the SBA we’ll continue to work to help entrepreneurs to face down market challenges and to access the capital and resources they need to start, grow, and thrive,” Isabella Casillas Guzman added.
Both President Biden’s speech and Isabella Casilla Guzman’s response to it, offers confidence that should help inspire small business owners and anyone thinking about starting a business in the United States.
It is also important small business owners are aware of the help, support, funding programs, and resources provided by the SBA. Details of funding assistance can be found on the SBA’s website, alongside business guides, local assistance, learning platforms, and more.