President Joe Biden has named April 28 through May 4, as National Small Business Week, recognizing the pivotal role small enterprises play in the nation's economic fabric. Biden emphasized that small businesses constitute the "heart and soul of our communities," employing nearly half of the private sector workforce and contributing to every industry, according to a proclamation published on The White House Proclamation.

Biden reflected on the challenges faced by small businesses during the pandemic, pointing out that his administration's interventions, including the reformed Paycheck Protection Program, helped save millions of businesses from closing their doors for good, "Small businesses had closed forever, and millions more hung on by a thread." Meanwhile, the government has pumped $450 billion in relief to small businesses, a move aimed at keeping the economic heartbeat of the country steady even amidst crisis, as per The White House Proclamation.

In a remarkable turnaround, Biden's office reports that the nation is now experiencing a historic small business boom with a record 17 million new business applications filed, signaling an era of hope and economic renewal. The growth is most notable among Black and Latino entrepreneurs, with the number of Black-owned businesses more than doubling from 2019 to 2022. "Every one of them is an act of hope," as mentioned in The White House Proclamation. Economically, things are looking up with the addition of 15 million new jobs, rising wages, and falling inflation fueling a positive outlook for small businesses across the country.

Infrastructure remains a crucial area where small businesses are poised to make substantial impacts, with the Bipartisan Infrastructure Law allocating billions in investment for the improvement of roads, ports, public transit, and more. As part of this plan, the Biden administration is leaning heavily into the contributions of Main Street entrepreneurs, setting a $37 billion goal of infrastructure investments for small businesses. "We are relying on America’s Main Street entrepreneurs to help us rebuild," as  mentioned in The White House Proclamation.

Recognizing the need for small businesses to access vital resources, the administration also has its eyes set on expanding access to capital and markets. For instance, the Small Business Administration is opening doors to low-cost small-dollar loans, and the Federal government has shifted its procurement focus to increase contracting with small disadvantaged businesses. As a result, last year, a record-setting $76 billion went to these businesses. Biden's administration has also carved out $10 billion for state-level small-business programs, aiming to catalyze private investments into the small business sector.

In conclusion, Biden's proclamation places small businesses at the forefront of the country's economic recovery and future growth. He calls upon all Americans to support these crucial enterprises during National Small Business Week and beyond. By celebrating the resilience and hard work of entrepreneurs, the president renews his commitment to "leaving no one behind," recognizing the collective power small businesses wield for the American economy.