The health of the economy in rural communities is strongly tied to the overall well-being of the American economy. Rural areas hold the vast majority of our country’s land and supply the rest of the country with the food, water, and energy we depend on. And yet, as the representative of one of the most rural districts in the country, I’ve seen countless examples of the ways rural… Read more »
The COVID-19 pandemic inflicted a once-in-a-lifetime economic shock on our nation. The small businesses that make up the foundation of our economy were particularly hard hit. Despite government efforts, nearly 200,000 businesses that closed their doors during the pandemic may never reopen.
These enterprises were more than just storefronts; they were entrepreneurs’ livelihoods, job… Read more »
Today is a chance for the Committee to hear directly from our fellow Members of Congress about their priorities for supporting programs and policies that promote small business creation and growth.
Last year was a pivotal moment across our country and we all experienced – and still are because the pandemic is not over – something unprecedented. Our nation’s entrepreneurs closed more… Read more »
Cyber-attacks have the potential to threaten public safety and undermine the American economy and national security. The early months of 2021 provided harsh reminders of this fact. Over the past 6 months, hackers and other malicious actors have held an oil pipeline for ransom, breached the nation’s largest transit network, and attacked private companies to obtain sensitive customer data.… Read more »
In 2020, COVID-19 widened the digital divide and highlighted the importance of reliable and affordable broadband for American small businesses. Many small businesses shifted operations online to stay connected to their customers as people stayed home to slow the spread of the virus.
This digital adaptation proved to be crucial to small business success. According to a survey by… Read more »
Women are at the center of the American economy. They make up nearly half the workforce and own an estimated 42 percent of all U.S. businesses. Before the pandemic, these women-owned businesses employed 9.4 million workers and generated $1.9 trillion in revenue. Businesses owned by women of color were experiencing exceptional growth. Pre-COVID, firms owned by women of color grew at 43… Read more »
Infrastructure helps form the foundation of our nation. Every day, Americans across the country rely on infrastructure to commute to work, access clean water, and communicate with each other.
But despite infrastructure’s fundamental importance to our country, it has become an afterthought over the past several decades. The U.S. is the wealthiest country globally but is ranked… Read more »
COVID-19 sparked a once-in-a-lifetime crisis for American small businesses. As cases rose, COVID forced small firms across the country to shut their doors to protect their customers and employees and slow the spread of the virus.
By April of 2020, the number of active small business owners had fallen by 22%, the most significant drop on record in our nation’s history.… Read more »
"Administrator Guzman, welcome to the Small Business Committee, and thank you for being here today. First and foremost, I want to commend you for the tremendous work you’ve done for our nation’s small businesses.
"And it is important to point out that, you took over the helm of SBA in the midst of an unprecedented crisis… Read more »
America’s 30 million small businesses support more than 56 million jobs and account for nearly half of our nation’s GDP.
It’s no exaggeration to say that these small firms are the foundation of our economy. But despite the fundamental importance of these enterprises, the road to small business ownership is fraught and paved with obstacles for prospective… Read more »
