Business credit

A proclamation on National Small Business Week, 2022

For generations, small businesses across America have shaped and embodied our nation’s entrepreneurial spirit and powered our economy. Today, more than 32 million small businesses employ nearly half of America’s workforce and are the heart and soul of countless communities. During National Small Business Week, we celebrate America’s small businesses and their enormous contributions to American life and prosperity.

When I first took office, the pandemic had devastated America’s small business community. Hundreds of thousands of small businesses had closed, major streets were closed, and millions of other Americans were out of work through no fault of their own. Even with the creativity and resilience of small business owners and workers, COVID-19 has had an incalculable impact on so many lives and livelihoods. That’s why I’ve made it a top priority to provide substantial and immediate relief to small businesses across our nation, giving them the tools, resources and support they need to reopen, rehire and rebuild.

My American Bailout and other emergency relief programs have distributed hundreds of billions of dollars to millions of small businesses to keep the lights on and workers on the payroll. My administration has also removed historic barriers to level the playing field for businesses in rural and urban America, especially businesses owned by veterans, women, and people of color. These efforts have helped millions of small businesses not only weather the pandemic, but also thrive.

My administration is committed to opening up new opportunities to help small businesses grow and compete. Through the U.S. bailout, our Small Business Credit Initiative provides state, territory, and tribal governments with resources to establish loan and equity programs to support entrepreneurs. Additionally, the bipartisan Infrastructure Act has created unprecedented contracting opportunities for small businesses in every community. Already, more than 4,000 projects have been announced to modernize America’s infrastructure, creating significant growth opportunities for small businesses. The law brings affordable high-speed Internet access to all communities – urban, rural, suburban and tribal – so that every small business can use digital technologies and win new customers across the country and around the world. The bipartisan Infrastructure Act makes the Minority Business Development Agency within the United States Department of Commerce a permanent entity – with a record amount of funding – so that minority-owned businesses can receive tailored help for their unique challenges and access to the capital they need to grow.

I firmly believe that equal opportunity is the foundation of our democracy. That’s why my administration is committed to using federal procurement funds to support businesses owned by underrepresented people and to help small businesses build generational wealth. Last year, I announced a series of reforms aimed at increasing contracting opportunities for underserved businesses by up to 50% by 2025. We are also capitalizing on our historic investments in supply chain resilience. “Made in America” sourcing and manufacturing so small businesses can innovate, compete. , and build the products of tomorrow. To position small businesses for long-term success, the United States Small Business Administration’s Community Navigator Pilot Program is forging stronger partnerships with local organizations to secure resources for underserved small businesses.

Thanks to these initiatives and the resilience of the American people, the American entrepreneurial spirit has never been stronger. New business apps have grown more than 30% during the pandemic, with nearly 5.4 million new apps in 2021 alone. More Americans than ever — including more women and people of color – pursue their dreams and start new businesses. My administration will continue to support them, build on this remarkable resurgence, and strengthen the foundations of our economy with America’s small businesses at the forefront.

This National Small Business Week, let’s renew our commitment to supporting small businesses in our country. From local mom and pop shops to innovative start-ups, small businesses are the backbone of our communities and the engine of our economy. By rebuilding our economy from the bottom up, we can maintain our global competitiveness and build a stronger nation where everyone can succeed.

NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim May 1 to May 7, 2022, as National Small Business Week. I call on all Americans to recognize the contributions of small businesses to the American economy, continue to support them, and honor the occasion with programs and activities that highlight these important businesses.

IN WITNESS WHEREOF, I have affixed my signature this twenty-ninth of April in the year of grace two thousand and twenty-two and of the independence of the United States of America on the two hundred and forty-six.

JOSEPH R. BIDEN JR.