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Monday, July 30th, marked 65 years that the U.S. Small Business Administration (SBA) has been in service for millions of entrepreneurs and small businesses. Founded on July 30, 1953, the SBA has provided small businesses “with access to funding, mentoring, counseling, and when disaster strikes, support to recover and get back to business,” their press release states.
“The SBA has helped make the American Dream possible for millions of aspiring entrepreneurs over the years, and today the SBA’s commitment to growing the nation’s small business sector is as strong as it’s ever been,” said SBA Administrator Linda McMahon. “On our 65th year, we renew our commitment to providing relevant products and services to these vital job creators. As the Administration’s policies continue to drive our economy forward and encourage more Americans to return to the workforce, small business owners and entrepreneurs will look to create and expand. SBA will be their partner every step of the way.”
As the SBA press release articulates, the U.S. holds over 30 million small businesses, which create two-thirds of new jobs in the private sector each year, and more than half of Americans are employees of or own a small business. As small businesses formulate the backbone of the the nation’s economy, the SBA helps small businesses have continued longevity by providing opportunities for contracts, mentoring, counseling, low-interest loans in case of damages caused by natural disasters and access to capital.
NAWRB appreciates its strategic relationship with SBA and looks forward to continuing our collaborative efforts to help the success of small businesses as women entrepreneurs comprise a large share of owners. Helping small businesses in turn helps the economic growth and independence of countless women, whose increased purchasing power impacts the wealth of America.
Read the official press release here.