Under the Biden administration, the U.S. is witnessing a historic boom in small businesses, marked by over 14.6 million new business applications. Notably, Filipino-American entrepreneurs are contributing to this surge, with several owning establishments at New York City's prominent holiday market. Small Business Administration Chief Isabel Casillas Guzman emphasizes the significant economic impact of small businesses, constituting 40% of the U.S. economy's output. Small businesses play a vital role as job creators, responsible for two-thirds of net new jobs, contributing to local communities and improving lives. Recognizing their importance, the Biden administration launched the Season of Small Business campaign to encourage support for startups. This growth exemplifies the resilience and success of small businesses, reflecting a broader trend in the thriving entrepreneurial landscape under the current administration.
Under the Biden administration, the U.S. is witnessing a historic boom in small businesses, marked by over 14.6 million new business applications. Notably, Filipino-American entrepreneurs are contributing to this surge, with several owning establishments at New York City's prominent holiday market. Small Business Administration Chief Isabel Casillas Guzman emphasizes the significant economic impact of small businesses, constituting 40% of the U.S. economy's output. Small businesses play a vital role as job creators, responsible for two-thirds of net new jobs, contributing to local communities and improving lives. Recognizing their importance, the Biden administration launched the Season of Small Business campaign to encourage support for startups. This growth exemplifies the resilience and success of small businesses, reflecting a broader trend in the thriving entrepreneurial landscape under the current administration.