Biden's Push for Small Business Growth: Celebrating 20 Million Acts of Hope
Biden's Significant Economic Initiatives
President Biden's administration has taken substantial steps to reinforce small businesses in the U.S., celebrating the remarkable milestone of 20 million new business applications since taking office. These figures illustrate how entrepreneurship is thriving across communities.
Investment in Small Businesses
- Over $50 billion invested into small businesses.
- New initiatives to enhance federal aid and improve lending programs.
- Expanded forecasting for upcoming federal contract opportunities.
Biden emphasizes that every small business is a crucial part of our economy's fabric. He highlights the role of these businesses as the “engines of our economy” and the heart of our communities.
Historic Business Creation
- 20 million new applications signify record levels of establishment growth.
- Business ownership has doubled among Black families.
- Hispanic and Asian American business ownership has reached a 30-year high.
- Women business ownership is now surpassing pre-pandemic levels.
The ongoing initiatives under the Biden-Harris agenda ensure small businesses receive necessary resources across various regions, enhancing their ability to grow and thrive.
Future Commitment
Looking ahead, the administration remains committed to supporting small businesses as a pivotal focus of its economic strategy, also branded as
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.