Small businesses, Biden said in a statement, are “the engines of our economy and the heartbeat of our communities.”
The U.S. SBA administrator, Isabella Guzman, stated that the rate of new business applications in 2022 was slightly lower than in 2021, but still showed excellent growth under President Joe Biden and Vice President Kamala Harris.
According to data released on Jan. 17, “we learned that my first two years in office have been the two greatest years for new small company applications, with more than 10 million total new businesses created,” Biden noted. According to her, Americans have been creating businesses and employment at unprecedented rates since the economic recovery began.
He stated that revitalizing America’s infrastructure and supply networks would be essential in the long-term success of the country’s small companies.
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