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SBA Advocacy Annual Report

Now, more than ever, it is important to focus on the need for strong connections between founders and the investors looking to support them, as reflected in the visual theme of this year’s annual report: building bridges. We call on Congress, the Commission, and our partners to support small businesses and their investors, with a particular focus on underrepresented founders and their investors.

Entrepreneurship Research Methodologies for Equity and Inclusion

Historically, research on entrepreneurship and innovation has rarely been conducted using community-engaged methodologies – even in work that seeks to address barriers to entrepreneurship in systemically marginalized communities. We believe that including the voices of entrepreneurs in the research process may produce more nuanced and robust findings that, ultimately, can serve as the basis for programs and policies that could truly change the landscape of entrepreneurship in the United States.

The Small Business Boom Under the Biden-Harris Administration

Through the American Rescue Plan and the equitable implementation of emergency relief programs, President Biden and Vice President Harris fostered the strongest recovery for Main Street on record. In 2021, Americans applied to start 5.4 million new businesses—more than 20 percent higher than any previous year on record. The boom in new business creation has been

Small Business Finance FAQ February 2022

Small businesses borrow mainly for four reasons: to start a business, purchase inventory, expand,
or to strengthen the firm’s financial health. Firms choose different means of financing depending on
the intended purpose.

Program Changes Increased Lending to the Smallest Businesses and in Underserved Locations

The Paycheck Protection Program (PPP) supports small businesses through forgivable loans for payroll and other eligible costs. Early lending favored larger and rural businesses, according to GAO’s analysis of Small Business Administration (SBA) data. Specifically, 42 percent of Phase 1 loans (approved from April 3–16, 2020) went to larger businesses (10 to 499 employees), although

Survey: Small businesses support bold investments in child care and paid leave, share views on mask and vaccine requirement

As Congress debates a bipartisan infrastructure plan and a larger $3.5 trillion investment in “human infrastructure,” Small Business Majority surveyed its network to understand their views on key issues being considered such as child care and paid family and medical leave. The survey also examined how small businesses are navigating mask and vaccination requirements, as