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SBA Statement on Biden-Harris Administration Exceeding Small Disadvantaged Business Contracting Goal

Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), praised President Biden's administration for surpassing the annual goal for federal contracting dollars awarded to Small Disadvantaged Businesses (SDBs) in FY2023. Guzman stated, "Today’s announcement shows the results, with a new record of contract spending with Small Disadvantaged Businesses and steady progress towards President Biden’s goal of awarding 15% of federal contracting dollars to Small Disadvantaged Businesses by FY2025."In response to President Biden's call to...

By Business Daily | Apr 12, 2024

Economics

New Small Business Applications Soar to Over 17 Million Under Biden-Harris Administration

WASHINGTON – In a statement released today by Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), it was revealed that an astonishing 17 million new business applications have been filed under the Biden-Harris Administration.Guzman emphasized the impact of President Biden's economic leadership, stating, “President Biden’s Investing in America Agenda has ignited a historic Small Business Boom, as more Americans than ever seek to start a business.” She highlighted the significance of each new business as "an act of hope and confidence...

By Business Daily | Apr 11, 2024

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Economics

SBA Launches Digital Hub to Connect Small Businesses with Major Funding in President Biden’s Investing in America Agenda

By Business Daily | Apr 11, 2024

WASHINGTON – Today, Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and the voice in President Biden’s Cabinet for America’s more than 33 million small businesses, announced the launch of the SBA’s new Investing in America Small Business Hub. This hub is described as the first and only digital portal of its kind providing industry-specific resources to help small businesses tap into opportunities under President Biden’s signature Investing in America (IIA) Agenda.Speaking about President Biden's economic agenda, Administrator...

Economics

SBA Recognizes 2024 Small Business Investment Companies of the Year

By Business Daily | Apr 10, 2024

WASHINGTON – Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced the recognition of Argosy Private Equity of Wayne, Pa., and Mizzen Capital, LP of Stamford, Conn., as the 2024 Small Business Investment Companies (SBICs) of the Year. The awards ceremony will take place during National Small Business Week from April 28 to May 4.Guzman praised the awardees, stating, "Filling capital gaps is core to the SBA’s mission, and we rely on an incredible network of SBIC-licensed funds to help us deliver. I am proud to recognize two...

Economics

SBA Administrator Guzman Highlights Memphis Small Business Ahead of Today’s Total Solar Eclipse

By Business Daily | Apr 8, 2024

SBA Administrator Isabel Casillas Guzman traveled to Memphis, Tennessee for a tour of American Paper Optics’ facility with business owner John Jerit and members of his leadership team. During the tour, Administrator Guzman learned how American Paper Optics used SBA resources to sustain operations during the pandemic, and how the business evolved into the largest manufacturer of paper 3D eyewear and solar eclipse viewing glasses in the world."The 2024 total solar eclipse is generating a spending surge nationwide, and small businesses are playing a large role in meeting...

Economics

SBA Administrator Visits Baltimore for Bridge Collapse Aid

By Business Daily | Apr 5, 2024

SBA Administrator Isabel Casillas Guzman, along with other prominent leaders, visited Baltimore to address the economic impact of the Francis Scott Key Bridge collapse and highlight federal resources available to help affected businesses. Guzman, representing the U.S. Small Business Administration, emphasized the government's commitment to supporting small businesses during a challenging time.During a roundtable discussion with U.S. Senator Ben Cardin, Congressman Kweisi Mfume, Baltimore Mayor Brandon Scott, and County Executive Johnny Olszewski, Administrator Guzman met...

Economics

SBA Recognizes 2024 Government Contractors and 8(a) Graduate of the Year

By Business Daily | Apr 5, 2024

Administrator Isabel Casillas Guzman of the U.S. Small Business Administration announced the winners of the 2024 National Small Business Week's government contracting awards. The honorees include Action Manufacturing Company, Knowledge Based Systems, Inc., and Cetechs. Guzman highlighted the importance of small businesses in federal contracting, stating, "The federal government relies on small businesses to deliver innovative and competitive products and services to support critical agency functions."Sean Gibbs, President/CEO of Action Manufacturing Company, was named...

Economics

SBA Recognizes 2024 Phoenix Award Winners of the Year for Outstanding Disaster Recovery Efforts

By Business Daily | Apr 4, 2024

Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) recently acknowledged the 2024 Phoenix Award winners for their exceptional disaster recovery efforts. Guzman emphasized the importance of supporting small businesses and communities in times of crisis, expressing the Biden-Harris Administration's commitment to their success.Among this year's recipients is Jacqueline Bernetta Tate Smith, the owner of The Coffee Shoppe in Selma, Alabama. Smith's resilience and determination following destructive tornadoes earned her the Phoenix Award for...

Economics

Cleveland Guardians and Progressive Insurance Extend Naming Rights To Progressive Field Through 2036

By Business Daily | Apr 3, 2024

Cleveland, OH – The Cleveland Guardians and Progressive Insurance have reached a new agreement, extending Progressive's naming rights of Progressive Field as the home of Cleveland Guardians baseball through the 2036 season. The deal was announced today, solidifying a 29-year commitment between the two entities.Tricia Griffith, CEO of Progressive, expressed the company's pride in the partnership, stating, "In 2008, we became the proud naming rights partner of Cleveland baseball and for the last 16 years Progressive Field has been part of the fabric of the Cleveland...

Economics

Administrator Isabel Casillas Guzman Visits Baltimore to Discuss Economic Assistance for Businesses Affected by Bridge Collapse

By Business Daily | Apr 3, 2024

The visit of Administrator Isabel Casillas Guzman to Baltimore on April 4 is set to address the economic impact of the Francis Scott Key Bridge collapse on small businesses. Guzman, representing the U.S. Small Business Administration (SBA), will be joined by key figures such as U.S. Senator Ben Cardin, Congressman Kweisi Mfume, and Mayor Brandon Scott for discussions and tours aimed at highlighting federal resources available for affected businesses.Guzman will engage in a closed-press roundtable with Senator Cardin, Rep. Mfume, and Mayor Scott to listen to the challenges...

Economics

National Federation of Independent Business says tort reform would help Georgia's small businesses

By Business Daily | Feb 20, 2024

The National Federation of Independent Business (NFIB), a small business association, has praised Georgia Governor Brian Kemp for his dedication to addressing lawsuit abuse. Small businesses are disproportionately affected by escalating commercial tort costs.

Economics

Auto insurance costs rose 20.6% in last year, hitting low-income households hardest

By Business Daily | Feb 14, 2024

The latest report from the U.S. Bureau of Labor Statistics (BLS) reveals that auto insurance costs have surged by 20.6% over the past year, significantly outpacing the overall inflation rate of 3.1% during the same period. Studies indicate that in California, low-income and nonwhite households are disproportionately affected by inflation.

Economics

Bankrate report finds average American driver spends 3.41% of income on car insurance

By Business Daily | Feb 8, 2024

Bankrate, a consumer financial services company, recently published a report revealing that the average American driver is allocating 3.41% of their income towards car insurance. The report was compiled by Shannon Martin, a licensed insurance agent with a decade and a half of industry experience.

Economics

Report finds car insurance premiums rose by 5% nationwide in 2023

By Business Daily | Jan 31, 2024

The Zebra, a digital platform that facilitates comparison of insurance policies, has reported a nationwide increase in car insurance premiums by an average of 5% in 2023. Authored by insurance analyst Ava Lynch, The Zebra's report suggests that insurance rates can surge even if a driver maintains a clean record devoid of accidents and violations.

Economics

Protective Insurance Rebrands as Progressive Fleet & Specialty Programs

By Business Daily | Jan 29, 2024

Progressive Insurance, the leading commercial auto insurer in the U.S., has announced a rebranding for its large fleet commercial line coverage. Formerly known as Protective Insurance, it will now be called Progressive Fleet & Specialty Programs (Progressive Fleet). This name change reflects the integration of businesses and highlights Progressive's expanded expertise in large fleet transportation and niche insurance programs for the transportation and delivery industries.Karen Bailo, Progressive's Commercial Lines President, stated, "This announcement was part of our...

Economics

Illinois auto insurance providers raised rates by more than $1.25 billion in 2023

By Business Daily | Jan 26, 2024

The Illinois Public Interest Research Group (PIRG) revealed on Jan. 18 that the ten largest car insurance providers, by market share in Illinois, increased rates by a total of more than $1.25 billion last year. The year 2023 marked the second consecutive year that rate increases exceeded $1 billion in Illinois.

Economics

Report finds businesses' cost of lawsuit risk grew twice as much as commercial revenue from 2020 to 2021

By Business Daily | Jan 22, 2024

The Institute for Legal Reform (ILR), a division of the U.S. Chamber of Commerce, recently published a report detailing the rise in commercial tort costs from 2020 to 2021. The report, released in December 2023, found that these costs escalated from $291 billion in 2020 to $347 billion in 2021.

Economics

State Farm, Allstate customers in California to see double-digit auto insurance rate increase in February

By Business Daily | Jan 17, 2024

Californians who have their auto insurance with Allstate and State Farm will face substantial increases in their rates beginning in February. Allstate's rates are set to rise by 30%, while those of State Farm will go up by 21%.

Economics

Biden renominates Su for Secretary of Labor despite opposition from Democrats

By Business Daily | Jan 12, 2024

President Biden has renominated acting Secretary of Labor Julie Su, despite disapproval from Democrats over Su's progressive background in California. The White House released the list of Biden's nominations to be sent to the Senate for approval or rejection on January 8, 2024.

Economics

BLS report shows 7.5% increase in workplace injuries in 2022

By Business Daily | Jan 11, 2024

The US Bureau of Labor Statistics (BLS) has disclosed a 7.5% increase in nonfatal workplace injuries and illnesses in the private industry for 2021-2022, amounting to 2.8 million cases. Illnesses surged by 26.1 percent, while injuries rose by 4.5 percent.

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