Recent census figures show that the Biden-Harris administration hit a record high in the number of newly founded small businesses.
US SBA administrator Isabella Guzman said the percentage of new business applications in 2022 was slightly lower than in 2021, but still showed good growth under President Joe Biden and Vice President Kamala Harris. rice field.
Guzman said:
The report’s authors said, “Stable and consistent growth and unprecedented investments in infrastructure, manufacturing and R&D offer great prospects for American entrepreneurs.”
In a statement, Mr. Biden said small businesses “are the engine of our economy and the heartbeat of our communities.”
“The first two years I’ve been in office have been the best two years for small business new filings, and I’ve learned that they generated more than 10 million new businesses in total,” Biden said.
The president added that the news provides further evidence that his economic plans are helping strengthen the middle class and the economy as a whole.
Guzman said tens of thousands of businesses were struggling to stay operational when Biden was elected.
She said Americans have created businesses and jobs at an unprecedented rate since the economic recovery began.
Guzman claims: Transformative legislation such as the President’s Infrastructure Investment and Jobs Act.”
Biden said the historically low unemployment rate and the strongest job growth in two years in history are reasons for the economic confidence across the country.
He said revitalizing US infrastructure and supply networks is essential for the long-term success of small US businesses.
The president called House Republicans “sad.”
He argued that his plan to crack down on companies that cheat taxes would also help level the playing field for small businesses.
“I will continue to work with anyone in either party in Congress or State to execute my economic agenda and build the economy from the bottom up and middle out. is coming,” Biden said.
