Washington, D.C.— Yesterday, House Small Business Committee Ranking Member Nydia M. Velázquez (D-NY), welcomed Small Business Administration (SBA) Administrator Isabella Casillas Guzman to Sunnyside Queens as the two visited local Latino-owned businesses. During the tour, Velázquez and Guzman discussed the challenges facing underserved entrepreneurs and federal efforts to better support small firms.
“The small businesses we’ve visited yesterday are the heart and soul of our community in Sunnyside. As the lead Democrat on the Small Business Committee, I, along with SBA Administrator Isabella Casillas Guzman, know that good things happen when we support small, independent businesses,” said Ranking Member Velázquez. “Under the Biden Administration, there has been an incredible boom in new business start-ups. But, we must continue expanding access to capital, particularly for underserved businesses, ensure entrepreneurs get the training they need, and lower the costs of starting and operating a successful small business.”
"Small businesses continue to adapt and tap into critical local and federal resources as they determinedly pursue their American dreams of business ownership thanks to President Biden’s economic blueprint and leaders like Congresswoman Nydia Velázquez,” said Administrator Guzman. “Yesterday, meeting with small business owners in Queens, I saw in action the grit and determination signature to the American entrepreneurial spirit. With inflation falling and continued signs of stable growth, I look forward to continuing our work with Congress to help small businesses to seek opportunities available thanks to historic legislative achievements and this Administration’s commitment to an economy that works for everyone."
The tour included stops at Latino-owned businesses La Pollera De Mario, Full Moon Café, I Love Paraguay, Paper Plus Printing, Flowers By Giorgie, and Riko’s Peruvian Cuisine.
Throughout the visits, Velázquez and Guzman highlighted the importance of Latino entrepreneurs to the American economy. The nearly 5 million Hispanic-owned businesses in the United States contribute more than $800 billion to the American economy annually. During the tour, Congresswoman Velázquez and Administrator Guzman reiterated their commitment to ensuring underserved businesses have the financial tools, technical assistance, and education needed to succeed.
Velázquez and Guzman also discussed the strength of small businesses under the Biden administration. On Tuesday, the U.S. Census Bureau announced that entrepreneurs applied to start 10.5 million small businesses between 2021 and 2022, the two greatest years for new small business applications on record.