The U.S. Small Business Administration is celebrating 70 years since its inception, with Isabella Casillas Guzman, administrator of the SBA, ringing the closing bell at the New York Stock Exchange today at 4 p.m. ET.
The SBA will also announce 68 legacy business recipients in the coming days and weeks with events honoring those businesses in multiple cities around the U.S. Many legacy business recipients started with small and leveraged SBA resources on their journey to becoming household names.
The SBA was founded by President Dwight D. Eisenhower on July 30, 1953, following the signing of the Small Business Act.
“America’s small businesses are giants in our economy, creating jobs and making the products and services that define our everyday lives,” Guzman said. “For 70 years, the U.S. Small Business Administration has helped entrepreneurs gain the know-how and the funding to start and grow. And we’ve stepped in when disasters disrupt the market to make sure that not only small businesses recover but that the communities they serve do too. The results are undeniable: In the seven decades since its founding, the SBA has financed billions, fueled some of our most iconic brands and innovative industries, and helped millions of hopeful entrepreneurs realize their American dreams of business ownership. We have ensured competition and innovation through entrepreneurship to fuel the world’s strongest and largest economy.
“As we enter our eighth decade, SBA is building on a record 12.2 million small businesses application boom fostered by President [Joe] Biden’s Investing in America agenda and a strong commitment to equity that continues to expand access to entrepreneurship in underserved communities. By growing our economy from the middle out and the bottom up, leveling the playing field, and creating equitable access to opportunities, we are building a lasting foundation for economic growth and our nation’s global competitiveness.”
