Small Business Majority Applauds White House Announcement to Increase Equity for Underserved Small Business Owners
Statement from John Arensmeyer, Founder & CEO of Small Business Majority, lauding the Biden-Harris Administration's announcement to set additional reforms to the federal procurement process that will help increase opportunities for all under-resourced small businesses.
“Despite their tremendous contributions to local communities, generating trillions of dollars in revenue to the national economy and employing millions of people, minority- and women-owned small businesses receive less than 10% of federal contracting dollars.
We are thrilled to see the Administration utilize its enormous purchasing power and implement additional reforms that will promote equity for under-resourced small businesses. By releasing disaggregated data of federal contracting spending by race and ethnicity for the first time, we can better understand where the gaps lie and how we can ensure greater expansion and growth for businesses owned by people of color. What's more, asking federal agencies to increase their contract spending goals to 11% is a necessary step in helping more Americans reach their entrepreneurial dreams and promotes a level playing field for small, disadvantaged businesses.”
###
About Small Business Majority
Small Business Majority is a national small business organization that empowers America's diverse entrepreneurs to build a thriving and equitable economy. We engage our network of more than 85,000 small businesses and 1,500 business and community organizations to advocate for public policy solutions and deliver resources to entrepreneurs that promote equitable small business growth. Our deep connections with the small business community along with our scientific research enable us to educate the public about key issues impacting America’s entrepreneurs, with a special focus on advancing the smallest businesses and those facing systemic inequalities. Learn more about us on our website and follow us on Twitter, Facebook and Instagram.