WASHINGTON –Today, Administrator Isabella Casillas Guzman announced that the Biden-Harris Administration exceeded its small business contracting goal of 23% in fiscal year (FY) 2022, awarding an all-time high 26.5% of federal contract dollars to small businesses. This historic level amounts to a $162.9 billion investment in the small business economy – an $8.7 billion increase from the previous fiscal year. Ten federal agencies earned an “A+” for their agencies’ achievements in small business contracting, and an additional ten agencies received an “A” grade. The federal government, overall, earned an “A” on this year’s government-wide scorecard. 

“Through President Biden’s Investing in America agenda, we have championed initiatives to fuel our nation’s historic economic growth, while also reducing barriers and ensuring fair competition in federal contracting,” said Administrator Guzman. “The Biden Administration continues to raise the bar, reaching a record high level of contract spending with small businesses, supporting over one million good-paying jobs in manufacturing, construction, research & development and other vital industries.” 

“The SBA’s Mid-Atlantic Region has the largest concentration of federal contractors in the nation, so it is vital we are geared to help small businesses find their place in delivering what government agencies need to function and serve the American people,” said SBA Mid-Atlantic Regional Administrator John Fleming who oversees the federal agency’s operations in Pennsylvania, Delaware, Maryland, Virginia, West Virginia and D.C.  “Our small business advocates across the federal government and our SBA partner organizations were key in reaching these results.”

Highlights of the overall performance of the federal government include: 

• For the second consecutive year, Small Disadvantaged Business (SDB) spending exceeded its 11% goal. The noteworthy achievement reflects President Biden’s unwavering commitment to meeting an ambitious SDB contracting goal.
• Service-disabled Veteran-owned small business spending has exceeded its 3% goal, reaching 4.6%. This achievement translates to $28.1 billion in procurement, reflecting a $3 billion spending increase compared to the previous year.  
• Historically Underutilized Business Zone (HUBZone) small businesses were granted a record-breaking $16.3 billion in federal contract awards, marking the highest amount ever awarded to this category in the program’s history. Despite not meeting the 3% statutory goal, the federal government made significant strides in supporting and empowering HUBzone small businesses.

• Women-owned Small Businesses (WOSB) received more than $26 billion for the fourth straight year, accounting for 4.6% of the FY22 total eligible dollars, slightly below the 5% target.  The overall dollars granted to WOSBs increased from $26.2 billion in FY21 to $28.1 billion in FY22. Moreover, the funds set aside specifically for WOSB firms amounted to $1.56 billion in FY22, showing a remarkable 17% surge. This growth followed the expansion of certified WOSB firms from approximately 1,000 to nearly 6,000 and the NAICS codes in which women-owned businesses can receive set-aside awards. With now over 92% of federal spending covered by NAICS codes eligible for WOSB set-aside awards, the SBA remains dedicated to collaborating with contracting agencies, actively pursuing future changes to achieve the 5-percent WOSB goal.

• The federal government achieved its small business subcontracting goals, awarding 30.9%, or $79.1 billion, to small-business subcontractors.
• In Fiscal Year 2022, although there was a significant increase in small business awards, the number of small businesses receiving prime contracts with the federal government continued a multi-year trend of decreases in small-business vendors, spanning a decade.

Expanding Access to Federal Contracting:

The Small Business Administration, under the Biden-Harris Administration, has made it a top priority to expand access to federal contracting. The SBA, under Administrator Guzman’s leadership, has made several strategic and targeted changes to ensure small businesses, particularly those in underserved communities, are empowered to find and take advantage of opportunities presented by President Biden’s signature legislation, including the historic Bipartisan Infrastructure Law, CHIPS and Science Act, and more. Actions include:

• Releasing new guidance, “Creating a More Diverse and Resilient Federal Marketplace through Increased Participation of New and Recent Entrants.” This executive action includes several new initiatives for encouraging new entrants to the federal contracting space, including a Supplier Base Dashboard to track an agency's mix of new entrants, recent entrants, and established vendors.
• Announcing a number of reforms in small businesses contracting, including directing all agencies to include progress towards achievement of each of the socioeconomic small business goals as evaluation criteria in all performance plans for Senior Executive Service (SES) managers that oversee the acquisition workforce or agency programs supported by contractors.
• Revising an agreement with federal agencies to promote maximum utilization of 8(a) certified SDBs to ensure equitable access to contracting opportunities.
• Updating NAICS codes eligible for WOSB set-aside contracts expanded from 444 to 759, representing a 70% increase.
• Ressurrecting ChallengeHer, a government contracting education initiative to help women-owned small business gain access to federal contracts and encourage participation in the SBA’s WOSB program, alongside partners from Women Impacting Public Policy (WIPP) and American Express (AMEX).
• Creating a new HUBZone map that updates designations and census tract boundaries resulting from the 2020 Census.
• Implementing a new certification system for SDVOSBs as part of the migration of Veteran-owned business certification from the Department of Veterans Affairs (VA) to SBA.

*The prime contract goal achievements by dollars and percentages for all categories are as follows: 

1. FY 2019-22, in accordance with federal law, SBA provided double credit, for Scorecard purposes only, for prime contract awards in disaster areas that were awarded as a local area set aside and a small business or other socio-economic set aside when the vendor state is the same as the place of performance (15 USC § 644(f)), and for awards to small businesses in Puerto Rico or covered territories (15 USC § 644(x)(1)). SBA also included in the calculation of government-wide achievements the Department of Energy first-tier subcontracts required to be included by section 318 of the Consolidated Appropriations Act of 2014 (“CAA”), Public Law 113-76. 

Individual agency scorecards with a detailed explanation of the methodology are available at SBA.gov.

Experts from the Cybersecurity and Business Worlds Convene to Share Best Practices and Practical Tools

WASHINGTON - The U.S. Small Business Administration (SBA) announced today that the agency will host a cyber summit in October 2023. The free cybersecurity series supports America's 33 million small businesses with tools, tips, and resources from multiple federal agencies to bolster their cybersecurity infrastructure, in addition to exploring new trends and challenges entrepreneurs are increasingly facing.

"Digital tools represent some of the most exciting revenue growth opportunities for American small businesses – from the $5.2 trillion global e-commerce marketplace to cutting-edge AI and other digital tools," said SBA Administrator Isabella Casillas Guzman. "As small businesses increasingly rely on technology to start and grow their businesses, our SBA Cyber Summit and our work modernizing the SBA will help more entrepreneurs make the digital pivot safely by leveraging SBA resources and private sector solutions to defend their businesses, their customers, and their livelihoods from the ever-evolving threats from cyber criminals."

"The rapidly evolving and interconnected world continues to present new challenges for small business owners, and it is our objective to empower them with the proper tools. Through our SBA Cyber Summit, the goal is to bolster the confidence and the know-how of our resilient U.S. small businesses to deal with these cyber challenges head-on," said SBA Associate Administrator of the Office of Entrepreneurial Development Mark Madrid.

Registration for the event is open to all and free. Sign up at

https://bit.ly/SBACyberSummit2023.

About the SBA's 2^nd Annual Small Business Cyber Summit

The summit will feature various speakers, including SBA Administrator Guzman, SBA Associate Administrator Madrid, SBA Resource Partners, Small Business Development Centers, the SBA Small Business Digital Alliance, the Cybersecurity and Infrastructure Security Agency (CISA), FBI, business chambers, state government partners, experts from the public/private sectors, major technology platforms, and award-winning business coaches.

Comprised of digestible and compact segments, attendees will have the opportunity to network and access practical tips, problem-solving strategies, industry trends, threat avoidance, and small business testimonials in order to learn how to help small business owners defend themselves against cyber-attacks.

Cyberattacks are a growing threat to small businesses and the U.S. economy. According to the FBI's Internet Crime Report, the cost of cybercrimes against the small business community reached $3.31 billion in 2022.

Small businesses are attractive targets because they have information that cybercriminals want, and they typically lack the security infrastructure of larger businesses.

Surveys have shown that a majority of small business owners feel their businesses are vulnerable to a cyberattack. Yet many businesses cannot afford professional IT solutions, have limited time to devote to cybersecurity, or do not know where to begin. The 2^nd Annual SBA Cyber Summit will address these formidable challenges with turnkey solutions.

WASHINGTON – Today, U.S. Small Business Administration (SBA) Administrator Isabella Casillas Guzman announced full implementation of the Disaster Assistance for Rural Communities Act authored by Senators James Risch (R-ID) and Jeanne Shaheen (D-NH). Rural communities often face more severe impacts from natural disasters due to limited access to resources and infrastructure, which limits their ability to recover and avert long-lasting economic hardship. The Act, signed by President Joe Biden December 20, 2022, authorizes the SBA to remove burdensome requirements for declaring disasters in rural communities.

"Small businesses are especially vital in our nation's rural communities, and we must have effective tools to rapidly help them and the neighborhoods they serve recover when disaster strikes," said Administrator Guzman. "With SBA's implementation of the Rural Communities Act signed by President Biden, we have cut red tape and simplified the process for a SBA disaster declaration, which allows us to more quickly provide affordable disaster loans and assistance to rural entrepreneurs, homeowners, renters and nonprofits so they can rebuild and thrive once more."

The law authorizes the SBA to simplify the process for governors and tribal government chief executives to request an agency disaster declaration in counties with rural communities that experience significant damage. With the agency declaration, the SBA is able to provide disaster assistance, including low-interest loans to individual renters and homeowners as well as nonprofits and for-profit businesses. Prior to the Act, the SBA could make an agency declaration based on damage to at least 25 homes, businesses or other eligible institutions. Now a declaration can be made with only one damaged property in a rural area when the county has received a major disaster declaration from the President for Public Assistance.

"After the signing of this legislation, the SBA moved quickly to ensure all the key elements were in place for the start of the 2023 hurricane season. Effective today, we are ready to further assist rural communities in the aftermath of disasters, Francisco Sánchez, Jr., Associate Administrator, SBA Office of Disaster Recovery and Resilience. "With a request from a governor or chief executive of a tribal government, SBA may issue a declaration that will allow SBA to activate all of its disaster loans and relief programs to disaster survivors."

Under the Biden Administration, the SBA has placed even greater emphasis on helping small businesses, homeowners, renters, private nonprofits, and communities prepare for, build resilience to, and recover from the tremendous physical and financial impacts of climate change. Since January 2021, SBA has supported federal response efforts and approved over $5 billion in disaster lending alone.  

America's Seed Fund Week brings together tech startups and America's Seed Fund agencies and resources to support economic growth

WASHINGTON– Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America's 32.5 million small businesses in President Biden's Cabinet, announced the 2^nd annual America's Seed Fund Week. Taking place from May 15 - 18, the series of virtual events, including Startup Expo, offers entrepreneurs working on advanced technologies and the organizations that support them, opportunities to collaborate, and connect to the country's largest source of early-stage funding for Research & Development (R&D).

Known as America's Seed Fund, the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs serve as a springboard for providing over $4 billion in non-dilutive funding in the form of contracts and grants to early-stage startups and innovative small businesses each year, science and technology focused entrepreneurs advance groundbreaking ideas from the research & development to commercialization. The SBA is committed to building a thriving innovation ecosystem and America's Seed Fund Week 2023 will set the stage for an inclusive learning experience, welcoming attendees to deepen their understanding of the program and its competitive funding opportunities.

"America's entrepreneurs are our nation's problem-solvers seeking ways to improve everyday life and the world around us. At the SBA, we are committed to helping to make sure our great ideas can be developed, commercialized and launched into thriving businesses," said Administrator Guzman. "Last year I kicked off our inaugural Seed Fund Startup Expo to showcase groundbreaking innovations funded by the SBIR program and to build awareness for more aspiring entrepreneurs to leverage this non-dilutive federal research and development program. The U.S. economy depends on its entrepreneurs, and Seed Fund Week is our chance to ensure they can connect and find resources to start and grow."

America's Seed Fund Week will feature virtual panels and presentations that bring together program participants with federal agency SBIR/STTR program managers and leading industry decision-makers. As a highlight of the week, SBA is hosting its 2nd America's Seed Fund Startup Expo on Monday, May 15^th. Startup Expo is a showcase of innovative small business startups that have benefited from America's Seed Fund contracts and grants; selected companies will present cutting edge technologies critical for our nation's economic prosperity, global competitiveness, and national security.

America's Seed Fund Week Overview

Monday, May 15

2 - 2:30 PM ET | America's Seed Fund Week Welcome and Opening Remarks by SBA Administrator Isabella Casillas Guzman

2:30 - 5 PM ET | America's Seed Fund Startup Expo 2023 –the virtual showcase of innovative ventures that define the cutting edge of technologies critical for our nation's economic prosperity, global competitiveness, and national security

Welcome with Bailey DeVries, SBA Associate Administrator for Investment and Innovation

Fireside Chat with Bailey DeVries, SBA Associate Administrator, and Jason Rathje, Director of the Office of Strategic Capital at the Department of Defense, on the Small Business Investment Company Critical Technology Initiative . 

Startup Expo spotlighting startup showcase winners and moderated by Helena Krusec, Strategic Engagement Lead at AFWERX; Bob Smith, Director, SBIR/STTR Programs at the Department of the Navy; and Andy Yakulis, Director, Corporate Ventures at the Army Applications Lab

Tuesday, May 16

2 - 2:30 PM ET | Small Business Innovation Research (SBIR) 101

U.S. Small Business Administration

2:30 - 3:30 PM ET | Is America's Seed Fund for Me?

Panel with speakers from the National Science Foundation (NSF), National Institutes of Health (NIH), and Department of Defense (DoD)

Wednesday, May 17

2 - 4 PM ET | Agency Open Houses – Participants will have the opportunity to speak directly to America's Seed Fund awarding agency representatives

Various Federal Agencies

Thursday, May 18

2 - 3 PM ET | Inside the Head of an Evaluator

Panel with speakers from the National Aeronautics and Space Administration (NASA), United States Special Operations Command (USSOCOM), and Environmental Protection Agency (EPA)

3 - 3:50 PM ET | Next Steps, Getting Started - Insights on the resources available to you from the federal government, organizations within your state or region, and our nation's innovation ecosystem

U.S. Small Business Administration

3:50 - 4 PM ET | Closing Remarks

U.S. Small Business Administration

WASHINGTON – Today, the U.S. Small Business Administration (SBA) announced $3.5 million in grant awards to support outreach organizations focused on veteran small businesses. The grants provide critical funding to create new Veterans Business Outreach Centers (VBOCs) in Alaska, California, Colorado, Iowa, Nebraska, Nevada, and South Carolina, strengthening training and counseling services for aspiring and existing veteran and military spouse small business owners. In the United States, there are nearly two million veteran-owned small businesses, employing over five million people and generating over $1.3 trillion in annual revenue.

“Our servicemembers have protected our Nation with selfless honor and sacrifice, and the Biden-Harris Administration is committed to supporting them with resources and opportunities as they pursue their American dreams of business ownership,” said U.S. Small Business Administrator Isabella Casillas Guzman. “With this expansion of our veteran-focused network of small business centers, we can help more transitioning service members, veterans, National Guard and Reserve members, and military spouses start and grow their businesses and advance our economy.”

“VBOCs are a one-stop shop for business training, counseling, and resource partner referrals to transitioning service members, veterans, National Guard and Reserve members, and military spouses interested in starting or growing a small business,” said Timothy Green, Acting Associate Administrator for the Office of Veterans Business Development. “The new centers will provide additional resources to increase support and access for nearly 2 million veteran-owned small businesses. The expanded locations aim to enhance the veteran small business owner experience with more opportunities for training and less appointment wait times.”

Today’s announcement expands the VBOC program from 22 to 28 locations, fully servicing all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, and American Samoa. Organizations receiving grants from the SBA have demonstrated a commitment to addressing challenges that veteran-owned small businesses face and helping them succeed through the Department of Defense’s Transition Assistance Program. Grants will support a range of services, including:

• Business planning: Provides veterans with training and counseling on accounting, financial planning, and management.
• Assistance accessing capital: Provides veterans help in understanding the multitude of sources of capital available to them, as well as helps them in accessing financing, loans, and grants.
• Marketing and outreach: Provides marketing and outreach services to promote veteran-owned businesses in their communities and beyond.
• Transitioning: Provides Boots to Business instruction to help active duty servicemembers transition out of the military.

Grant awardees are as follows:

• Seattle Economic Development Fund - Business Impact Northwest

              Seattle, WA

              Coverage Area:  Alaska

• University of Texas Arlington College of Business

              Arlington, TX

              Coverage Area:  Nevada

• Mt. Carmel Veterans Service Center

              Colorado Springs, CO

              Coverage Area:  Colorado

• Nebraska Enterprise Fund

              Oakland, NE

              Coverage Area:  Nebraska and Iowa

• The Citadel

              Charleston, SC

              Coverage Area:  South Carolina

• Long Beach City College

              Long Beach, CA

              Coverage Area:  California - Los Angeles County, San Bernardino County, Ventura County, Orange County, Santa Barbara County, and Riverside County

For more information or to find a VBOC near you, visit www.sba.gov/vboc.

To learn more about SBA’s programs for veterans, visit www.sba.gov/veterans.

By: Martin Short, Lead Economic Development Specialist & Public Information Officer

In communities across our nation, small Mom and Pop businesses are the bedrock for economic activity, local revenue, and jobs. In many cases these businesses are at the center of our lives economically and socially. I grew up in a rural community where my parents knew the owners of several Mom and Pop businesses. Those relationships were personal and of great value. 

Typically, Mom and Pop businesses are family owned and operate in a variety of industries such as automotive shops, drugstores, hardware stores, etc. These small businesses sometimes must compete with medium and large businesses like big box stores. These small businesses do not have a lot of advantages when competing against larger operations. However, one of the advantages they share is the opportunity to forge personal relationships and build value. These relationships are invaluable because more of the income from these small operations stays in the community and owners are more likely to support the community – sponsoring little league teams for example. Another advantage is the support of the U.S. Small Business Administration, which provides access to capital, access to new markets, and training for entrepreneurs from all walks of life.

There are 3 things you can do to support your locally owned Mom and Pop small businesses:

1. Shop at Mom-and-Pop businesses all year round.
2. Give your local Mom & Pop a shout out on "National Mom and Pop Business Owners Day."
3. Encourage your friends and family to "shop small" on "Small Business Saturday and year-round."

Small businesses are essential to the creation of jobs and opportunities. Remember, small businesses do a lot for the consumer by offering unique products and supporting the local economy. When this happens, we all win. Learn more about small businesses' impact on our economy and how to start and grow yours at Small Business Administration (sba.gov). Let's keep supporting Mom and Pop!

Hundreds of Small Firms in Economically Disadvantaged Areas May Now Qualify for HUBZone Certification

WASHINGTON- Today, the U.S. Small Business Administration (SBA) announced the launch of a new Historically Underutilized Business Zone (HUBZone) preview map, which shows that hundreds of firms in newly released designated underserved areas will become eligible to apply for HUBZone certification, enabling them to compete for billions of dollars in federal contracts set aside for HUBZone-certified firms, to create jobs, and to improve the economy in their communities.

"By channeling a record $14 billion in federal purchases to HUBZone-certified small firms last year, the Biden-Harris Administration gave a critical financial boost to hundreds of entrepreneurs in economically disadvantaged rural and urban areas,” said Administrator Isabella Casillas Guzman. “The HUBZone Program is an essential component of President Biden’s commitment to expanding federal contracting opportunities for small businesses across the country.”  

The HUBZone preview map shows changes that are scheduled to take effect on July 1, 2023, reflecting updates from the 2020 U.S. Census. HUBZones are designated based on economic and population data from the Census Bureau and other federal agencies, using a formula established by Congress. The map update highlights growth opportunities for small businesses in more than 20,000 HUBZone areas across the United States and Territories, including 3,732 newly qualified communities.

“For small businesses in new HUBZone areas, SBA’s certification provides a gateway to billions of dollars in federal contracting opportunities, contributing to the economic growth and strengthening of underserved communities while also ensuring that employment opportunities benefit the people living in communities that most need positive economic impact,” said Lori Gillen, Director of the Office of the HUBZone Program.  

At the same time, according to the new map, many currently HUBZone-designated areas will no longer qualify for participation in the program because they have outgrown their disadvantaged status thanks to increased employment, increased average incomes, or other signs of positive economic development. To provide a sufficient off-ramp for communities losing this designation, the expiration of their HUBZone status is being extended until

July 1, 2026, providing firms and communities additional time to transition.

In addition, HUBZone-certified firms with principal offices in areas that have been in “Redesignated” status since 2018, and whose communities have had time to transition out of the program will officially lose their HUBZone eligibility after July 1, 2023, unless they relocate their principal offices to qualifying areas.

Before the upcoming changes, HUBZone-certified firms should verify that they will meet the 35 percent HUBZone employee residency and principal office requirements on their annual recertification anniversary date following July 1, 2023. Firms eligible at the time of offer for a HUBZone contract are generally considered to be HUBZone firms through the life of that contract, meaning current HUBZone contracts will not be disrupted by the map update.

For a map of current HUBZones, visit https://maps.certify.sba.gov/hubzone/map.

The preview of the new HUBZone map, which will go into effect on July 1, is available at https://preview-maps.certify.sba.gov/.

The SBA encourages small businesses to learn more about the HUBZone Program at the SBA website: https://www.sba.gov/federal-contracting/contracting-assistance-programs/hubzone-program.

WASHINGTON – Today, the U.S. Small Business Administration (SBA) Interagency Task Force on Veterans Small Business Development (IATF) and Advisory Committee on Veterans Business Affairs (ACVBA) announced they will hold their next set of virtual public meetings on March 1 and 2, respectively, via Microsoft Teams.

"The IATF and ACVBA committee meetings are a quarterly opportunity for members and participants to come together and hear about the state of veteran-owned small businesses," said Acting Associate Administrator for the SBA Office of Veterans Business Development, Timothy Green. "Most importantly, it serves as a chance to discuss how SBA can continue to serve service members, veterans, and their families through resources, training, and other support."

WHAT: IATF and ACVBA Virtual Public Meetings

The IATF meeting will include committee member updates from the Department of Veterans Affairs (VA), Treasury, Defense, and Labor; U.S. General Services Administration; Office of Management and Budget; North Carolina Business Center; the American Legion; VET-Force; and the National Veteran Small Business Coalition.

The ACVBA meeting will cover briefings from the SBA Office of Veterans Business Development, the SBA Office of Government Contracting and Business Development on the Veteran Small Business Certification program, VA, the University of Washington Daniel J. Evans School of Public Policy and Governance, and the Madison Services Group.

WHEN: IATF Meeting

Wednesday, March 1, 2023

• 1 p.m. to 3 p.m. EST
• ACVBA Meeting
• Thursday, March 2, 2023
• 9 a.m. to 1 p.m. EST

WHO: Timothy Green, Acting Associate Administrator, SBA Office of Veterans Business Development;Robert Bailey, ACVBA Chairperson, Veteran Small Business Owner; IATF and ACVBA Committee Members; Guest Speakers from Interagency Partners and Veterans Service Organizations

HOW: 

• The IATF will meet on Wednesday, March 1, from 1 p.m. to 3 p.m. EST via this Microsoft Teams link. To join the meeting by phone instead, use 206-413-7980 and enter the Conference ID: 953121976#.  
• The ACVBA will meet Thursday, March 2, from 9 a.m. to 1 p.m. EST via this Microsoft Teams link. To join by phone instead, dial 206-413-7980 and enter the Conference ID: 115439757#. 

Public comments and questions are strongly encouraged to be submitted in advance via email by February 28 to veteransbusiness@sba.gov. For technical support, please visit the Microsoft Teams support page. Meeting presentations and minutes will be available after both meetings at www.sba.gov/ovbd under the "Federal Advisory Committees" section. 

Initiative will feature Presidential Cabinet members highlighting the Biden-Harris Administration's whole-of-government commitment to advancing Latino prosperity

WASHINGTON – Following President Biden's State of Union address on Tuesday, SBA Administrator Isabella Casillas Guzman traveled to Tucson, Arizona today to announce plans for the upcoming Biden-Harris Administration Latino Prosperity Tour. This tour will spotlight the whole-of-government approach the Biden-Harris Administration has taken to support, uplift, and invest in the Latino community, as well as underscore the Administration's ongoing commitment to expanding pathways to prosperity in Latino communities across the nation. While Latinos generate nearly $2.8 trillion in economic activity, studies show that a significant opportunity gap persists due to underinvestment. The multi-city tour will feature resources from across the federal government that support education, housing, entrepreneurship, and more as avenues to generate economic wealth and address the racial wealth gap.

"President Biden is investing in America, and this tour connects the Latino community to those federal investments – meeting people everywhere they are to turn their possibilities into reality," said Administrator Guzman. "For the Latino community, entrepreneurship is a pathway to prosperity, to successful community outcomes, and generational wealth building. As the daughter of a small business owner, and as an entrepreneur myself, I have seen first-hand the difference that access to resources and support can have. That is why I am thrilled to lead this effort on behalf of the Biden-Harris Administration, and look forward to hitting the road with my fellow Cabinet members and senior leadership over these next few months."

"The Biden-Harris Administration is leading the way to ensure Latino families across the nation can live with dignity, respect, and achieve success," said White House Senior Advisor to the President Julie Rodriguez. "Latinos are hardworking, starting small businesses at historic rates, and committed to making their lives and communities better. With the Latino Prosperity Tour, the Biden-Harris Administration is able to shine a spotlight on local Latino leaders and small business owners who are a powerful testament to this Administration's efforts to increase economic opportunity for Latino communities so that they can use their full potential and build generational wealth."

"As the first Latina Mayor of Tucson, I am proud to welcome Administrator Guzman to our great city and host the announcement of the Biden-Harris Administration's Latino Prosperity Tour," said Mayor Regina Romero. "At the city level, we know how crucial it is to meet constituents where they are, and I am thrilled to see the Biden-Harris Administration take steps to further their efforts to engage and invest in Latinos across the country, as we will here in Tucson."

The lingering issues exacerbated by COVID-19 have created growing economic challenges for communities of color, especially in Latino communities. The Biden-Harris Administration has addressed disparities in Latino communities by helping more entrepreneurs achieve the dream of business ownership, expanding access to health care, and providing student debt relief. The Latino Prosperity Tour will directly engage underserved Latino populations in conversation, gather feedback, provide connection, and discuss ways the Biden-Harris Administration can address the unique access barriers they are experiencing.

Through historic investments in the Infrastructure Investment and Jobs Act, the Inflation Reduction Act, and the CHIPS and Science Act, the Biden-Harris Administration continues its commitment to deliver on the promise of increasing opportunity for all, including every Latino family and community.

About the Latino Prosperity Tour

SBA Administrator Isabella Casillas Guzman, the highest-ranking Latino official on the economy in President Biden's Cabinet, will be touring the country with fellow Cabinet members to highlight the historic investments the Biden-Harris Administration has made in Latino communities, in addition to featuring resources available across the federal government. Administrator Guzman and other members of the Cabinet will hear first-hand from diverse Latino communities across the nation about their needs. Details of the tour will be shared as it progresses, including stops in rural, diaspora, and growing Latino communities. More information about tour steps, participants, etc., will be announced in the near future.

Agency to Host Virtual Informational Events for Qualified Applicants February 6-9.

WASHINGTON – Today, the U.S. Small Business Administration announced virtual events will be held for applicants for its seventh Growth Accelerator Fund Competition (GAFC). The GAFC will offer $13 million in prizes awarded in 2023 and 2024 aimed at expanding growth accelerators and creating innovative partnerships with inclusive approaches toward supporting entrepreneurs in STEM (Science Technology Engineering Math) and research and development (R&D). 

“SBA’s impactful Growth Accelerator Fund Competition provides prizes to entrepreneurial support organizations (ESOs) that serve as catalysts for our thriving, inclusive national innovation ecosystem,” said Bailey DeVries, Associate Administrator of Investment and Innovation. “These awards reflect a priority across the Biden-Harris Administration to advance equity by incentivizing greater collaboration and partnership among stakeholders and supporting the development of inclusive growth accelerators that will empower underserved entrepreneurs. I encourage ecosystem builders and entrepreneurial support organizations with great ideas to accelerate growth and drive for innovation to apply as soon as possible.”

Entrepreneurs interested in applying for the Growth Accelerator Competition are encouraged to join one of the informational online webinars. The online webinars will provide information on the competition and will facilitate connections between ESOs and potential partners working on similar themes across the nation. The webinar offerings are as follows:

• Feb. 6: National Security and Global Competitiveness, including but not limited to National Security and Defense; International Trade; Public Health
• Feb. 7: Domestic Manufacturing and Production, including but not limited to AgTech, Food Security, and Nutrition; Supply Chain Resiliency; Critical and Resilient Infrastructure
• Feb. 8: Climate and Renewable Energy, including but not limited to Climate and Environment, Energy, and Sustainability
• Feb. 9: Under-Represented People, Places, and Themes

Interested applicants should RSVP for a webinar here: https://bit.ly/GAFC23ThemeConvening. Stage One Catalyze submissions are being accepted now until Feb. 24. Multiplier Bonus Prizes will be available for new and rural-focused Ecosystem Partners.

Since 2014, SBA has made nearly 400 awards to Innovation Growth Accelerators in 52 states and territories, establishing a solid network of innovation support for startups and small businesses across the country. New this year, the competition places greater emphasis on fostering connections across innovation ecosystem stakeholders. Entrepreneur Support Organizations (ESOs) motivated to strengthen and increase equitable access to resources for underserved communities and industries should visit Challenge.Gov.

Competition rules, requirements, and additional information can be found at https://www.challenge.gov/?challenge=sbaaccelerators2023.

The Pre-Application Webinar can be found at https://youtu.be/0DX5gnkWRTU.

Martin Short, Lead Economic Development Specialist & Public Information Officer

At the end of each year, it is common to make New Year resolutions and commit to doing things differently. As we look back on the last few years, it has been a rocky ride comprised of the pandemic and uncertainties. The uncertainties are probably the most concerning considering we do not what the future holds. One thing we want to foresee if possible is, “the canary in the coal mine.” Well, the U.S. Small Business Administration (SBA) is here to help with the unforeseen. We can help with mitigating the unforeseen with our counseling and mentoring services from our resource partners. 

January is National Mentoring Month! This is a good time to reap the benefits from hundreds of SCORE mentors in Virginia. SCORE mentors provide free, one-on-one business advice to small businesses and entrepreneurs. SCORE, the nation’s largest network of volunteer, expert business mentors, is dedicated to helping small businesses plan, launch, manage and grow. SCORE is a nonprofit organization that is committed to fostering vibrant small business communities through mentoring and educational workshops. 

The SBA also partners with local business counseling organizations that are free to the public: the Small Business Development Center (SBDC), Women’s Business Center(WBC), Veterans Business Outreach Center (VBOC), Procurement Technical Assistance Center (PTAC) each of which offers one-on-one mentoring, technical assistance, and training to aspiring and existing business owners alike. All these resources can guide you in writing a business plan, developing a marketing strategy, identifying opportunities to increase sales, and much more!

When meeting with our partner resources, you will immediately discover that we are here for you. We want all small business owners to know that they are not alone. Regular mentoring and counseling will do a lot for your business acumen, management, and growth. Please visit our webpage to find a resource partner near you. Best wishes and please remember, we are here for you!

$382.9 Million in Loans to Support VA's Economy

Virginia– The U.S. Small Business Administration (SBA) Virginia-Richmond District Office announced today Fiscal Year 2022 (October 1, 2021 – September 30, 2022) summary loan data. The Virginia-Richmond District Office services 92 counties in Virginia, excluding Arlington, Fairfax, and Loudoun counties and the cities of Alexandria, Fairfax, and Falls Church.

Loans via SBA 7(a), 504, and microloan programs in Virginia totaled 742 and $382.9 million. In Fiscal Year 2022, SBA's flagship 7(a) loan program made 513 7(a) loans to Virginia small businesses totaling approximately $292.6 million. The 504 Loan Program (SBA and third-party lenders, combined) reported more than $203.8 million in lending to Virginia small businesses. The Microloan Program, which specifically helps businesses in underserved communities, reported $ $1,987,870 in lending for the areas covered by the Virginia-Richmond District Office. 

"The recent numbers are indicative of our efforts to support small businesses in the Virginia counties and cities we serve. Our goal is to make access to capital a cornerstone for small businesses," said SBA Virginia Deputy District Director Shirelle Taliaferro.

SBA's 7(a) Loan Guaranty Program is the SBA's primary financial assistance instrument. It provides loan guaranties on business loans to help qualifying entrepreneurs secure financing on reasonable terms. The program operates through private-sector lenders who provide loans. SBA's 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.

"We're seeing a healthy doubling down by investors and community stakeholders on small businesses," said SBA Mid-Atlantic Regional Administrator John Fleming. "More capital is flowing to American small businesses due to improved opportunities thanks to historic bi-partisan policies created under the Biden Administration and President Biden's commitment to strengthen equitable access to capital through SBA."

Nationally, SBA announced the agency reached $43 billion in Fiscal Year 2022 funding with more than 62,000 loans.

By: Martin Short, Lead Economic Development Specialist & Public Information Officer

Thanksgiving week kicks off the busiest time of the year for retail businesses. Many businesses, particularly small retail shops and restaurants, rely heavily on the end of year sales to close out the year in the black. Together with American Express, the SBA sponsors Small Business Saturday each year to celebrate and support small businesses and all they do for our communities.

The year’s Small Business Saturday is November 26^th. Small business owners can participate in Small Business Saturday in many ways. 

1. Get free Small Business Saturday marketing materials including sample posters, press releases, and social media updates
2. Utilize social media platforms to connect with current and potentially new customers
3. Implement an email marketing campaign 
4. Connect with customers and make their experience special, unique, and safe

Supporting our small businesses is a way to support the well-being of our neighborhoods and communities. The more we value our common resources, the more resilient we become.

Please join the SBA, American Express and others across the country in supporting your local small business by Shopping Small!  Please visit us at www.sba.gov under Small Business Saturday to learn more.

WASHINGTON – Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden's Cabinet for America's 33 million small businesses, calls on Americans to "Shop Small" throughout this holiday season and on Small Business Saturday, which falls on November 26.

"As our economy continues to stabilize, it's more important than ever that consumers shop and dine small during the holiday shopping season," said Administrator Guzman. "We continue to see positive impacts and opportunities for our small business owners through President Biden's economic agenda, and Small Business Saturday is another chance for us to further strengthen America's entrepreneurs with our local and online spending and promotion." 

The Biden-Harris Administration has been aggressive in laying the foundation for small business growth through the American Rescue Plan and the equitable implementation of SBA economic relief programs. Thanks to President Biden's economic leadership, we saw a record number of Americans apply to start nearly 8.5 million new businesses – higher than any similar period on record.

Small Business Saturday, founded by American Express, is a day dedicated to supporting the diverse range of local businesses that create jobs, help boost the economy, and enhance neighborhoods around the country. According to American Express, the projected total reported spending among U.S. consumers who shopped at independent retailers and restaurants on Small Business Saturday last year hit a record high with an estimated $23.3 billion1. The SBA has cosponsored Small Business Saturday since 2011, and the Agency continues to help entrepreneurs leverage new opportunities with the 13th annual Small Business Saturday.

Small business owners look forward to another strong year, and the SBA is doing its part by expanding and retooling resources to support all small business owners throughout their entrepreneurial journeys. For more information on SBA's programs and services and to find an office near you, visit www.sba.gov.

To learn more about Small Business Saturday, visit www.sba.gov/saturday.

[1] The American Express 2021 Small Business Saturday Consumer Insights Survey was conducted by Teneo on behalf of American Express. The study is a nationally representative sample of 2,426 U.S. adults 18 years of age or older. The sample was collected using an email invitation and an online survey. The study gathered self-reported data and does not reflect actual receipts or sales. It was conducted anonymously on November 28, 2021. The survey has an overall margin of error of +/- 2.0%, at the 95% level of confidence. Projections are based on the current U.S. Census estimates of the U.S. adult population, ages 18 years and over.

ChallengeHer is celebrating 10 years of helping women-owned small businesses access federal contracts

WASHINGTON –Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses in President Biden’s Cabinet, announced the return of ChallengeHer - a government contracting education initiative to help women-owned small business gain access to federal contracts and encourage participation in the SBA’s Women-Owned Small Business (WOSB) Federal Contract program, alongside partners from Women Impacting Public Policy (WIPP) and American Express (AMEX), during a recent event in Silver Spring, Maryland. 

Celebrating its 10th anniversary, ChallengeHer is free for all registrants as part of a national initiative designed to promote the WOSB Federal Contract Program, bring more women-owned firms into the federal government’s supply chain, and provide an avenue for government agencies to meet qualified women-owned small business contractors. 

“Throughout the past decade, ChallengeHer has helped tens of thousands of women-owned small businesses break glass ceilings and grow their revenue by selling to the world’s largest buyer: the U.S. government,” said Administrator Guzman. “Thanks to the SBA’s collaboration with WIPP and American Express, ChallengeHER continues to level the playing field in the federal marketplace by investing in and empowering more women-owned firms, connecting federal buyers directly with women entrepreneurs, and providing continued advocacy on behalf of WOSBs in every sector of the economy and every corner of the nation -and we are committed to ensuring it continues to open doors for women for decades to come.”

“WIPP is honored to co-sponsor this much-needed and well-respected program, now in its 10th year, as we provide women-owned small businesses with the education and resources needed to navigate the road to success and sustainability during these historical times,” said Candace Waterman, President & CEO, Women Impacting Public Policy (WIPP).

Last month, the SBA announced the Biden-Harris Administration exceeded its small business federal contracting goal, awarding 27.2% percent or $154.2 billion in federal contracts to small businesses in FY21. WOSBs received more than $26 billion in federal contracts. Following the passage of President Biden’s bipartisan CHIPS and Science Act, women-owned small manufacturers stand to benefit from direct federal investment, helping grow our domestic manufacturing footprint and lower costs for Americans by bringing supply chains home. 

ChallengeHer events provide matchmaking opportunities between women-owned businesses and government contractors and networking opportunities. It also provides world-class programming and training, facilitated by subject matter experts, for entering into and navigating the public-sector supply chain. Sessions are offered in-person and online.

To learn more about ChallengeHer and to register for upcoming events, visit www.ChallengeHER.us.

WASHINGTON – Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice for America’s 33 million small businesses and startups in President Biden’s Cabinet, announced the establishment of two new federal advisory committees, the Invention, Innovation, and Entrepreneurship Advisory Committee (IIEAC) and the Investment Capital Advisory Committee (ICAC), to accelerate support for startups driving critical innovation across the U.S. and increase small businesses’ access to patient capital.

“The Biden-Harris Administration recognizes that innovation and entrepreneurship are big driving forces of America’s historic economic boom and will play key roles in our nation’s transition to stable and steady economic growth and prosperity,” said Administrator Guzman. “These new advisory committees will help us gain valuable insights into not only how the SBA can improve programs and policies to strengthen the innovation ecosystem across the nation, but also how the agency can better serve our customers while accelerating the flow of patient private and public capital to innovative startups and small businesses."

The advisory committees will consist of members with a diverse set of perspectives, experiences, and occupational backgrounds to provide advice and recommendations to the SBA on policy and programs. The IIEAC will focus on innovation commercialization, lab-to-market translation, and constructing a more equitable, inclusive federal innovation ecosystem. The ICAC will be geared toward developing a more inclusive investment ecosystem for small businesses and domestic private funds committing capital to small businesses with an emphasis on access to patient investment capital and affordable private long-term loans.

“One of the SBA’s top priorities is to provide American main street small businesses and innovative startups with access to critical patient capital and R&D funds to advance innovation and support the small businesses located across communities in every corner of our country. The foundation of our support for innovation is the Small Business Innovation Research (SBIR) program which, for 40 years, has served as America’s Seed Fund, providing startups with the R&D funding necessary to pursue big ideas. Since 1958, the Small Business Investment Company (SBIC) works with private equity and private credit funds to accelerate the flow of patient capital and long-term loans to small businesses old and new across industries and geographies. The new federal advisory committees will foster dialogue and identification of opportunities to accelerate and diversify SBA’s support for innovative startups and small businesses,” said Bailey DeVries, Associate Administrator, SBA Office of Investment and Innovation. “The federal innovation ecosystem is what provides resources to innovators with the big ideas of today that will become the cutting-edge businesses of tomorrow.”

The SBA is seeking nominations from members of the public.

The requirements for nominations to the IIEAC include:

• Former or current small business owner;
• Community leader;
• Official from a small business trade association or academic institution;
• Member of the innovation community.

 The requirements for nominations to the ICAC include:

 Former or current small business owner;

• Community leader;
• Official from a trade association or investment institution;
• Member of the investment community.

Nominees should send a letter of self-nomination or a letter of nomination from a peer, professional organization, society, or member of Congress. The letter should highlight accomplishments and experience working with small businesses in relevant subject matter areas relating to innovation and investment. Along with the Nominee Information Form and resume, nominees should include the following:

 Full name of nominee

• Occupation
• Physical address
• Telephone number
• Email address

For issues or questions with either FAC application, please email IIEAC@sba.gov (for concerns regarding IIEAC) or ICAC@sba.gov (for concerns regarding ICAC).

By: Martin Short, Lead Economic Development Specialist & Public Information Officer

Rural communities have experienced challenging economic times with the overall decline in their population, lack of broadband, and many other amenities that metropolitan areas enjoy. In comparison to metropolitan areas, rural communities often do not have a comprehensive ecosystem with business development resources to support startups and small businesses. For this reason, rural communities are sometimes overlooked and underserved. One way to change this is by telling story to the world.

 I recently attended the Brunswick County Business Summit along with other ecosystem stakeholders. The summit centered around discussions on how the county can tell its story more widely and frequently. The main topic of the event was to share that Brunswick County is open for business. Their goal is to build a comprehensive entrepreneurial ecosystem to support startups and existing businesses.

 “The driving force of the event was to tell our story, to sing our song that Brunswick County is the Location of Choice. We are a valuable resource to Southside Virginia, especially to the Tri-Cities area. We are bridging the gap between Richmond and Brunswick. Today's event highlights those partnerships that we have built as we continue to work collaboratively to establish an ecosystem for small businesses in Brunswick County. I invite everyone to contact the Brunswick County Department of Economic Development to learn more about our economic initiatives, ” stated Alfreda Jarrett Reynolds, Director of Economic Development.

 The event was a revelation, and it illuminates some tips for rural communities to consider moving forward. 

1. Craft a message or an elevator speech with a consistent message espousing the communities' brand. 
2. Become a champion and a convener for building an entrepreneurial ecosystem. 
3. Partner with capital providers such as lenders, CDFIs-Community Development Financial Institutions, and the SBA. Access to capital is a vitally important component of growth.
4. Partner with schools to adopt entrepreneurship programs to foster the future.
5. Become a champion and a convener for building entrepreneurial ecosystems and inject a spirit of entrepreneurship into the community to help shape the business culture for

 The SBA has a myriad of resources for rural communities. We value and understand the economic contributions of rural communities. That is the primary reason the SBA wants to help rural communities tell the story! 

 Please visit our rural businesses webpage- Rural businesses (sba.gov). Also, visit the SBA VA District Office to learn more about workshops and learning opportunities at www.sba.gov/va. 

By: Martin Short, Lead Economic Development Specialist & Public Information Officer

Operating a small business comes with a lot of variables and considerations for the owner. Some business owners are challenged by having to wear so many hats, address internal challenges, and most importantly, win customers. These challenges often cause business owners to work in their business and not on it. When this happens, this often causes internal problems, it prevents acceleration and growth. Also, the owner ends up so engrossed in the internals that they lose sight of treating their business as a business. 

Here are some valuable best practices that can help make the road smooth.

1. When starting a new business, open a business bank account. Too many small business owners operate business income through their personal bank accounts.
2. Establish a comprehensive recordkeeping system. A comprehensive recordkeeping system will track all your income, expenses, and receipts. 
3. Learn the requirements and expectations of the IRS.

Operating a business involves keeping good financial records and complying with local, state, and federal laws. In addition, this practice can be of great benefit when applying for a loan. Clarity of records helps the loan officer and underwriters assess your application and repayment capacity. Most importantly, a financial system will enable you to look at your business immediately and tell you about the business’s financial health. 

The IRS offers assistance for small business owners relating to business compliance matters. Connecting with the IRS and learning their requirements can save you a lot of time and trouble. In addition, the SBA offers a dynamic learning platform to help understand basic business practices. Also, the SBA offers business technical assistance through a variety of resource partners. One can access resource partners near them by utilizing local assistance on the SBA’s website.

Keep in mind, that your business is a separate entity from you, therefore treat your business as a business. Visit the SBA-VA Richmond District Office to learn more about workshops and learning opportunities at www.sba.gov/va. 

With the start of hurricane season officially upon us, it is more important than ever for residents and small businesses to remember that the best course of action to limit damage from natural disasters is preparing before the disaster hits. Administrator Isabella Casillas Guzman, the voice for America’s 32.5 million small businesses in President Biden’s Cabinet, underscored this critical point and the need for equity, mitigation, and preparedness efforts as part of the annual Hurricane Preparedness and Actions briefing for President Biden. During her tenure, the U.S. Small Business Administration (SBA) has been at the forefront of ensuring small businesses, nonprofits, as well as individual homeowners and renters impacted by natural disasters around the nation have the support and recovery relief that they need, and the tools to build resilience.

Natural disasters are not just more devastating; they are also coming faster, more frequently, and are often rapidly changing in their complexity and scope. In 2020, the United States suffered 22 separate billion-dollar disasters —the most in our history— but experts in the space expect that number to continue to climb. Fighting climate change and preparing America to adapt to its impacts has been and will remain a priority for the Biden-Harris Administration - and supporting that readiness is a critical component of the SBA’s work under Administrator Guzman.

That is why the SBA is ensuring its products and services are simple and flexible enough to meet small businesses where they are and help them prepare, manage and recover from the growing disaster threats, including pandemics, cybersecurity and increased natural disasters due to climate changes. 

The SBA’s Programs That Support Communities Impacted by Disasters Have Expanded and Scaled in the Face of New Challenges.

• In the past year, the SBA approved more than $2 billion to help residents and businesses across all 50 states and five territories recover from natural and other non-pandemic related physical disasters, including multiple hurricanes, floods, and wildfires, all of which have been rising in frequency and severity at significant physical, human, and economic costs.

With the COVID-19 pandemic impacting communities and economies across the globe, the SBA’s tireless civil servants were called upon to expand into new areas to help small businesses stay afloat. Two of the critical SBA programs funded in part by President Biden’s American Rescue Plan, the COVID Economic Injury Disaster Loan (EIDL) program and the Shuttered Venue Operators Grant (SVOG), provided a lifeline to millions of small businesses across America.

• Through COVID EIDL, more than $378 billion was put directly into the hands of over 3.9 million entrepreneurs from our hardest-hit sectors. The COVID EIDL Advance Programs put an additional $7.6 billion, approximately, in grant funds. And the Shuttered Venue Operators Grant program helped save nearly 13,000 businesses in the arts industry, collectively awarding them more than $14.2 billion.  Additionally, over $800 billion was distributed through the Paycheck Protection Program and $28.6 billion through the Restaurant Revitalization Fund.
• As of June 1, 2022, SBA personnel are responding to two open Presidential disaster declarations, 10 SBA Administrative disaster declarations, six Governor’s certifications, 108 Secretary of Agriculture declarations, and one Military Reservist Economic Injury Disaster Loan declaration.

As the Anchors of Our Communities, Small Businesses Rely on Resilient Neighborhoods for their Customers and their Employees, and the SBA’s Disaster Relief Loan Programs Help Communities Recover Swiftly.

• Assisting with disaster recovery in all 50 states, Washington, D.C., and the five U.S. territories of American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands, the SBA’s disaster loan program is the only federal assistance program that provides private property owners an affordable way to mitigate disaster impacts and protect their homes, families, businesses, employees, and livelihoods against the next disaster. Funds received from SBA disaster loans can be used by property owners to build back better, stronger, and more resilient.

• SBA disaster loan funds can be used to cover insurance deductibles, refinance an existing mortgage, pay for mitigation and protective upgrades, relocate to a safer and lower risk area, and more. And low, fixed interest rates amortized over 30 years for low monthly payments offer an affordable way for property owners to fully repair/replace their disaster losses not covered by other recoveries.

 Additionally, borrowers using SBA’s physical disaster loan programs are also eligible for up to 20 percent of their total physical losses, as verified by SBA, to incorporate additional protective measures to mitigate future damage and losses against the next disaster.

 SBA also offers non-pandemic related economic injury disaster loans to help small businesses, small agricultural cooperatives, and most private nonprofit organizations located in a declared disaster area rebuild after suffering a substantial loss.

 Preparation is key. By helping small businesses, homeowners, renters, and others shift their focus to preparedness, we can help reduce the impacts of future disasters. A few ways businesses can get ready for this year’s hurricane season:

 Establish a communications plan and subscribe to local emergency management alerts.

• Protect vital information in the cloud.
• Review insurance coverage, consider business interruption insurance, and take a video inventory of property and assets.
• Complete facilities and operations planning; consider e-commerce solutions or temporary alternative locations to resume operations quickly and evaluate supply chains.
• Engage in pre-disaster contract development opportunities.
• Practice and test your plan with managers and staff.
   

Supporting Mitigation, Equity, and Resiliency in an Age of Growing Disaster Threats.

As the SBA assesses the enormous impact of its COVID relief programs on saving millions of small businesses, the Agency is taking this opportunity to reimagine how it provides disaster assistance and how our nation’s needs may evolve in the face of these worsening disasters, including transforming how we do business and show up to deliver a positive customer experience to residents and small business owners in their time of need.

Through greater emphasis on business preparedness operations for our small businesses, equitable distribution of disaster funding and attention to recovery efforts in historically underserved communities, and by improving upon current partnerships while identifying new collaboration opportunities with on-the-ground organizations, the SBA is uniquely positioned to help our small businesses, homeowners, renters, and nonprofits weather any storm.

Small Business Resilience is Strengthened by SBA’s Core Small Business Programs.

Critical to building resilient communities and ensuring swift recovery is helping small businesses bolster their financial resources before a disaster strikes by taking advantage of the SBA’s various core programs. This means ensuring entrepreneurs have access to capital and standard lending programs, as well as assistance growing their revenues by getting their products online or into global markets and accessing federal contracting opportunities, often by connecting them to one of the Agency’s newly launched Community Navigators, hundreds of Field Offices, or thousands of Resource Partners - including Small Business Development Centers, Women’s Business Centers, SCORE chapters and Veterans Business Ownership Centers - for mentoring, training, and assistance in navigating government resources.

Questions about disaster loans can be emailed to DisasterCustomerService@sba.gov or directed to SBA’s Customer Service Center at 1-800-659-2955 (7-1-1 for the deaf and hard of hearing). Information on SBA’s core lending programs, revenue growth opportunities and technical assistance can be found at SBA.gov.

Growth Opportunities Expand Veteran-Owned Business Impact

BY: SBA Mid-Atlantic Regional Administrator John Fleming

As we enter the Memorial Day weekend, we take pause to honor the ultimate sacrifice far too many brave men and women made for the safety and security of the United States of America and our allies. As a veteran myself, I know that those who do return home, whether in times of war or peace, have also sacrificed a great deal in support of the American Way.

Abraham Lincoln said it best, “Honor to the soldier and sailor everywhere, who bravely bears his country's cause. Honor, also, to the citizen who cares for his brother in the field and serves, as he best can, the same cause.”

The Department of Defense cares for our troops while they serve, and the Department of Veterans Affairs leads a whole of government approach to support them after. Some may be surprised to learn the U.S. Small Business Administration is part of this community of support by helping active-duty men and women, veterans, and their spouses succeed as entrepreneurs through special programming and access to capital and markets.

Supporting vetrepreneurs isn’t just good for veterans; it’s good for our economy. There are 2.5 million veteran-owned businesses in the U.S.  Despite the fact the majority of these firms are small (99.9%), they have a huge impact on our economy – nearly 380,000 veteran small business owners are creating jobs by employing 4.2 million people and paying $182 billion in total annual payroll. That’s an average of 11 employees per veteran-owned small employer.

If you are a veteran, or have veterans in your life, check out the SBA’s robust outreach network of Veterans Business Outreach Centers, District Field Offices, and resource partners offering counseling, training, mentorship, and assistance. 

We’re also currently administering the Biden-Harris Administration’s Community Navigator Pilot Program, an American Rescue Plan initiative designed to reduce barriers all small businesses, including those owned by disadvantaged groups such as veterans, women, and those from rural communities and communities of color, face in accessing critical support. The program will provide $100 million in funding to 51 organizations ("hubs") to work with over 400 local community groups ("spokes") to connect America's entrepreneurs to federal, state, and local resources so they can recover and thrive.

Vets may also be interested in our quarterly Interagency Task Force on Veterans Small Business Development and our Advisory Committee on Veterans Business Affairs meetings to be held Jun 1^st and 2^nd. These meetings are vital for the SBA to gain a greater understanding of the current state of veteran-owned small businesses and how to best serve them. Presentations and minutes will be available after both meetings at www.sba.gov/ovbd under the "Federal Advisory Committees" section.