Isabella Casillas Guzman, administrator of the Small Business Administration, said new data from the U.S. Census Bureau shows that a record pace of small business applications continued in 2022.
“Since the start of this administration, small business applications reached a high of 10.5 million, the most in any two years in our nation’s history,” Guzman said in a statement published Wednesday.
She noted that the new Census data reflects how the current administration’s investment in economic recovery enabled U.S. entrepreneurs to establish new businesses.
“The SBA and the Biden-Harris Administration continue to retool vital federal small business support programs and services to expand access to capital, provide much-needed trusted networks for technical assistance and training, and help America’s entrepreneurs seek new revenue opportunities from transformational legislation including the President’s Infrastructure Investment and Jobs Act,” Guzman added.
According to the Census Bureau, there were 417,055 business applications filed for December 2022, a drop of 0.3 percent from the previous month.