Created largely in response to the crises caused by the Great Depression and World War II, on July 30, 1953, President Dwight D. Eisenhower signed into law the Small Business Act to “aid, advise, assist, and protect, in as far as possible, the interests of small businesses.
The presidential signature established the Small Business Administration (SBA) and made it a policy to support and protect the interests of small businesses.
Isabella Casillas Guzmanadministrator of the SBA, issued the following statement during the 70th anniversary:
We have ensured competition and innovation through entrepreneurship to power the world’s largest and strongest economy
Marking the peak of the celebration, which will last throughout August, Casillas Guzmán rang the closing bell on the New York Stock Exchange on July 31.
“America’s small businesses are giants in our economy: they create jobs and make the products and services that define our daily lives. For 70 years, the US Small Business Administration has helped entrepreneurs obtain the knowledge and financing to start and grow,” said Casillas Guzmán.
The NYSE welcomes the U.S. Small Business Administration in celebration of @SBAgov‘s 70th Anniversary. #SBAat70 | @SBAIsabel
— NYSE (@NYSE) July 31, 2023
As part of this anniversary, the SBA will announce in the coming weeks the 68 recipients of the Legacy Business, a series of business ventures that started small and leveraged SBA resources on their journey to becoming recognized brands.
Since the agency’s founding, the SBA has expanded its assistance to millions of small businesses across the country.
“And we have intervened when disasters disrupt the market to make sure that not only small businesses recover, but also the communities they serve,” Casillas Guzmán said.
Its programs now include help with administration, assistance in the acquisition of financial and federal contracts, as well as specialized advice and support in international trade.
Through its programs, the SBA provides specialized assistance to women, diverse communities, and veterans of the military.
On July 30, 1953, President Dwight D. Eisenhower signed the Small Business Act into law, establishing the U.S. Small Business Administration! Since then, SBA has helped millions of small businesses start and grow. More:
@librarycongress
#SBAat70 pic.twitter.com/enDv1IwmkP— SBA (@SBAgov) July 31, 2023
“The results are undeniable: In the seven decades since its founding, the SBA has funded billions, fueled some of our most iconic brands and innovative industries, and helped millions of hopeful entrepreneurs realize their American Dreams of business ownership. ”, emphasized the administrator.
SBA loans are also available for victims of natural disasters.
The federal agency will continue to work to ensure that the delivery of its programs is equitable, customer-focused, and supports small businesses and innovation.
“As we enter our eighth decade, the SBA is building on a record boom of 12.2 million small business applications fueled by President Biden’s Investing in America agenda and a strong commitment to equity that continues to expand access to the entrepreneurial spirit in underserved communities”, said Casillas Guzmán.
Likewise, the SBA will continue working on the elaboration of strategies to build resilient companies and a sustainable economy, through a management plan for its technology and human resources to obtain a greater impact.
“By growing our economy from the bottom up, leveling the playing field, and creating equitable access to opportunity, we are building a lasting foundation for our nation’s economic growth and global competitiveness,” the SBA administrator concluded.
2023-08-03 20:52:08
#Small #Business #Administration #Celebrates #70th #Anniversary
