On March 3, President Biden delivered his first State of the Union address. The annual speech was heavy on economic issues, with the president saying fighting inflation was his top priority.
Biden pledged to crack down on shipping companies that took advantage of the pandemic to raise prices. He also praised a manufacturing revival, while highlighting some of his divisions with business.
SBA Administrator Responds to Biden’s State of the Union
Small Business Administration (SBA) administrator Isabella Casillas Guzman responded to President Biden’s State of the Union address.
As a thank you for the US bailout and the Biden cabinet’s 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 on families, workers and small businesses. Our Union is strong and growing even in the face of great 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 US bailout and a successful vaccination program, entrepreneurship has recovered and is growing, and our economy is growing at the fastest rate in nearly 40 years.
More Americans are opening businesses
The SBA administrator spoke about how more Americans are opening new businesses, with more than 5.4 million in 2021 alone.
“And our high streets and industrial and manufacturing centers are open and thriving. And as a result of the Infrastructure Investment and Jobs Act, small businesses will soon be able to access new contract opportunities to help rebuild our nation’s roads and bridges, allowing us to get goods to market faster and strengthen our supply chains,” she said.
Isabella Casillas Guzman further spoke about the plans underway to create greater resilience and sustainability for small businesses.
“While historic economic progress is clear, the president has set out a plan to rebuild our economy to resilience and sustainability and reduce costs for American families and small businesses.”
Helping Small Businesses Thrive
The head of the SBA added that she looks forward to working with President Biden and the administration to “continue to promote policies that will help small businesses thrive, strengthen our supply chains and remove barriers to high-paying jobs for American workers. “
Casillas Guzman also pointed to the importance of promoting fair competition, which allows small business owners to realistically compete with larger companies, not just for US consumers, but for consumers around the world.
“The future for US small businesses looks bright and at the SBA, we will continue to work to help entrepreneurs meet market challenges and access the capital and resources they need to start, grow and to bloom,” added Isabella Casillas Guzman.
Both President Biden’s speech and Isabella Casilla Guzman’s response to it inspire confidence that small business owners and anyone thinking of starting a business in the United States should inspire.
It is also important for small business owners to be aware of the assistance, support, funding programs and resources provided by the SBA. Details on financing aid can be found on the SBA’s website, in addition to business guides, local aid, learning platforms and more.
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