Biden touts admin efforts to boost small business: '20 million acts of hope'
Source: The Hill
11/30/24 12:35 PM ET
President Biden took to social media to promote Small Business Saturday and his administration’s efforts to boost small businesses, including investing more than $50 billion into the space. “Every small business is an act of hope,” he wrote on social platform X. “This Small Business Saturday, we’re celebrating all small businesses, including the 20 million new business applications — 20 million acts of hope — since I took office,” he added.
Biden, with less than two months left in office to cement his legacy, announced a new initiative Friday to boost federal aid for small businesses. In a statement Friday, the administration called these businesses the “engines of our economy and the heart and soul of our communities.”
Under the new program, the administration will expand caps on lending programs, improve forecasting of upcoming federal contract opportunities, increase access to federal subcontracts and leverage research and development for small disadvantaged business (SDBs), according to a fact sheet from The White House.
More than 20 million new business applications have been filed since Biden took office in 2021, the most in any term, per the release.
Read more: https://thehill.com/homenews/administration/5015816-joe-biden-administration-small-business-saturday/
Link to White House FACT SHEET - FACT SHEET: Ahead of Small Business Saturday, the Biden-Harris Administration Takes New Actions to Increase Federal Support for Small Businesses