On March 3rd, 2021 the “Reform the SBA: BIGGER Mission, Authority & Resources” was launched, not as a criticism of the Small Business Administration. It is a call to action to expand the mission, authority, and resources of the SBA.
There is a bipartisan recognition that the country is at a four-decade low in new business startups—a slow moving economic disaster that has developed during good and bad economic times.
The COVID pandemic has made the problem worse. While requests for Employer Identification Numbers at the federal level have increased dramatically in 2020, this did not translate into new business startups at the local level. A survey in South Carolina found that new business licenses requested from local units of government were down 31% in 2020 from the same months in 2019.
Simply doing more of the same will not move our nation along fast enough, or possibly not at all, to correct this small business startup crisis.
This national campaign is derived primarily from insightful and tangible reform recommendations of business leaders and groups, entrepreneurs, lenders, and elected leaders.
Our nation’s aspiring entrepreneurs and small business owners—particularly minorities and women in underserved communities—need strong, singular national leadership to break down barriers to starting and growing small businesses.
“Reform the SBA” is a campaign to focus Washington’s attention on the issue and advocate for the changes desperately needed.