Joe Biden is leading the largest small business growth in the US in 25 years

The Small Business Administration (SBA) announced that 18.1 million new business applications have been filed since Biden took office, the largest surge in 25 years.

Read: The Republican Presumptive Nominee for President is A Convicted Felon

Small businesses are thriving under Biden

The SBA announced in a press release:

Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and President Biden’s Cabinet voice for America’s more than 33 million small businesses, released a statement in response to President Biden’s announcement that more than 18 million new business applications have been developed. filed under the Biden-Harris administration.

…

Since the start of the Biden-Harris administration, there have been 18.1 million new business filings, at an average of 443,000 per month – a rate that is more than 90% faster than the pre-pandemic average. With President Biden’s economy already achieving its first, second and third strongest years of new business filings on record, he remains on track for a fourth straight year of historic business filings. The U.S. economy has grown more strongly under President Biden than at this point in any presidential administration in the past quarter century.

There has been historic growth in minority-owned businesses

National Economic Council Director Lael Brainard told PoliticusUSA during a call with reporters:

For the past three years, small businesses have been central to the president’s economic agenda from day one. The small business boom is fueling economic comeback stories in towns and cities across America, creating new jobs and innovation and breathing life back into main streets.

Since the President took office, small businesses have added an average of 650,000 new jobs to our economy every quarter. We have also seen a near-historic increase in business ownership rates for minority business owners. Since 2019, Black business ownership has more than doubled and Latino business ownership has increased by about 40%. Black wealth has increased by 60% from pre-pandemic levels

Using government to represent economic priorities

Government is an instrument, and the way that instrument is applied and used reflects the priorities of the people who work in it. The Biden administration has made expanding economic opportunity one of its top economic goals. As evidenced by this call and many others in which PoliticusUSA has participated along with government officials, the White House is trying to get the message out about their economic performance, but it is up to the free press to inform the American people about the facts.

Biden is leading a small business boom in the United States, but the American people wouldn’t know it if they only watched cable news and read major corporate news channels.

The economy is booming in many ways, but one of the political obstacles the president faces is a common misconception about his performance.

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