Biden-Harris Small Business Boom Continues with Historic 18 Million New Business Applications Filed

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More Business Applications Filed Under President Biden than Any President in American History

WASHINGTON, June 12, 2024 (GLOBE NEWSWIRE) — Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet 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 filed under the Biden-Harris administration.

“Under President Biden, American business owners have demonstrated incredible dynamism, tenacity, and optimism,” said SBA Administrator Guzman. “By leveling the playing field and making historic Investments in America, President Biden has catalyzed an unprecedented surge of entrepreneurship with more than 18 million business applications filed under the Biden-Harris administration to date. Small businesses are bellwethers within our economy, and their meteoric rise under this administration reveals the true strength of the economy that President Biden has built from the bottom up and the middle out.”

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Since the start of the Biden-Harris administration, there have been 18.1 million new business applications with an average 443,000 filed each month – a rate over 90% faster than pre-pandemic averages. Having already achieved the first, second, and third strongest years of new business applications on record, President Biden’s economy remains on track for its fourth consecutive year of historic business filings. The U.S. economy has grown more under President Biden than at this point in any presidential administration in the last quarter century.

For more information about the SBA’s loan programs, financial assistance, and other services, visit sba.gov.

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About the U.S. Small Business Administration
The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit sba.gov.

CONTACT: Christine Saah Nazer U.S. Small Business Administration 202-756-0304 [email protected] 

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