U.S. Small Business Administration Celebrates 70th Anniversary

The U.S. Small Business Administration (SBA) turns 70 this year, and small businesses nationwide are celebrating the organization’s support of their entrepreneurial journey. The SBA, established by President Dwight D. Eisenhower in 1953, has had an illustrious journey, protecting and bolstering the interests of small businesses nationwide. For small business owners, this anniversary is a celebration of the SBA and a reminder of the resources and support that have been pivotal in their journeys.

Administrator Isabella Casillas Guzman of the SBA will mark this milestone by ringing the closing bell at the New York Stock Exchange on July 31 at 4 p.m. ET. The event can be live-streamed by anyone interested at nyse.com/bell, symbolizing a wider recognition of small businesses’ immense role in the American economy.

In a press release, Guzman reaffirmed the SBA’s commitment to small businesses: “America’s small businesses are giants in our economy — creating jobs and making the products and services that define our everyday lives. For 70 years, the U.S. Small Business Administration has helped entrepreneurs gain the know-how and the funding to start and grow.”

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She also highlighted the SBA’s role in providing support during times of crisis. “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,” said Guzman. This sentiment reflects the SBA’s dedication to ensuring the survival and success of small businesses, even in the face of unprecedented adversity.

Over the decades, the SBA’s initiatives have had tangible impacts. The agency has financed billions, nurtured some of America’s most iconic brands, and guided countless entrepreneurs in realizing their dreams. As Guzman noted, “The results are undeniable.”

In the coming days and weeks, the SBA will also announce 68 Legacy Business recipients, honoring them with events in various cities nationwide. These businesses, which have leveraged SBA resources to become household names, are a testament to the SBA’s successful history.

Looking forward, the SBA is building on a record 12.2 million small business application boom, fostered by President Biden’s Investing in America agenda and a firm commitment to equity. This initiative aims to expand access to entrepreneurship in underserved communities, fostering economic growth from the middle out and the bottom up.

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Guzman emphasized, “By 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.” For small business owners, the SBA’s 70th anniversary signifies a tribute to the agency’s accomplishments and an optimistic glimpse into a future marked by continued support and equitable growth.

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