Graduation ceremony for small business owners from the U.S. Small Business Administration (SBA).
In the first year of the Thrive program, more than 800 entrepreneurs from 59 U.S. cities received training from the U.S. federal agency, said SBA Administrator Isabella Casillas Guzman, who renewed the commitment of Joe Biden’s administration to help small business owners to accelerate the development of their businesses and pursue their American dream.
Through the implementation of training programs for small entrepreneurs, the administration of Joe Biden intends to create an inclusive economy giving the opportunity to the most marginalized groups to participate in the creation of wealth in the country, said Mrs. Guzman while insisting on the fact that the small business owners represent the pillar of the American economy.
Since Joe Biden took office, more than 9.1 million small business applications have been registered. This brings the total number of registered small businesses in the United States to nearly 33 million, the SBA’s administrator said.
Over a six-month period, students received training in marketing, business law, finance, leadership and human resources, among other areas. A program aimed at equipping entrepreneurs with the necessary tools to better manage their businesses.
The program was delivered throughout the United States in both online and face-to-face formats. Experts in several fields were hired to provide the training.
Since the inception of the training program in 2018, approximately 6 thousand entrepreneurs have received SBA training. This has created over 11 thousand jobs in the US. More than a billion dollars of financing on various forms have been granted to small businesses as well as federal contracts valued at more than 4 billion dollars have also been awarded to small and medium-sized businesses, the SBA administrator was pleased to say.
Isabella Casillas Guzman promises to continue to support the new graduates as they pursue their entrepreneurial adventures. She invites the students to stay connected with the federal agency which is more than ever determined to support them.
During the COVID 19 pandemic, many small businesses were forced to close their doors due to the decline in economic activity.
In keeping with his campaign promises, U.S. President Joe Biden has provided significant support to small business owners through the establishment of loan programs at exceptionally low rates. Thousands of businesses have also had their federal debt forgiven to give them a chance to get back on their feet.