Addresses 40-year low in new business startups and wealth gap
Columbia, SC, June 14, 2021—Recently the Biden-Harris Administration committed to a 50% increase in federal contracts by 2026 for disadvantaged small businesses. Black, Latino, Asian, Indigenous, and other minority small business owners to benefit.
Today the national campaign started this past March, “Reform the SBA: BIGGER Mission, Authority, and Resources”, sent the below letter to SBA Administrator Isabella Casillas Guzman in support of the effort as it is one of the campaign’s recommendations for reforms needed to address the nation’s 40 year low in new business startups.
June 14, 2021
The Honorable Isabella Casillas Guzman
U.S. Small Business Administration
409 3rd St., SW
Washington, DC 20416
Re: Small Disadvantaged Business contracting
Dear Administrator Guzman,
On behalf of all the business organizations, listed below, that support our campaign regarding the nation’s 40-year low in new business startups, we strongly support the Biden-Harris Administration’s recent commitment to increasing by 50% the share of federal contracts going to small disadvantaged businesses by 2026.
The use of the federal government’s procurement process to promote Black, Latino, Asian, Indigenous, and other minority entrepreneurship addresses both our decline in business startups and the wealth gap. Regarding the latter, there is no better way for individuals and families to accumulate wealth and lift their communities economically than through entrepreneurs creating locally owned businesses.
We understand that the SBA’s Office of Government Contracting and Business Development will lead this all-of-government effort. We hope that this is the beginning of the Administration’s designation of the SBA to be the lead on all federal efforts on tackling our small business startup crisis and supporting entrepreneurship.
Our campaign’s recommendation regarding federal procurement also calls for increasing the percentage goals for small businesses owned by women and service-disabled veterans, as well as for small businesses in HUBZones. We hope that the Biden-Harris Administration will also consider adding these groups to the increased procurement effort.
Please let us know if we can be of any assistance.
Frank Knapp Jr.
National Campaign Coordinator
Reform the SBA: BIGGER Mission, Authority and Resources supporting organizations:
American Independent Business Alliance
American Sustainable Business Council
Gullah Geechee Chamber of Commerce
Latin American Chamber of Commerce—Charlotte
Latino Communications Community Development Corporation
Local First Arizona
National Cooperative Business Association
North Carolina Business Council
Sumter Black Chamber of Commerce
South Carolina Hispanic Chamber of Commerce
South Carolina Small Business Chamber of Commerce
Triad Local First
U.S. Green Chamber of Commerce