Thank you, Farooq, for that warm introduction, and for all that you do to support America’s small businesses.
It’s an honor to welcome all of you to day two of Small Business Training Week. I’d like to begin by thanking you for your tremendous efforts over the past 17 months. Despite unprecedented challenges, you followed through for America’s small businesses … and our economy is stronger today because of your dedication and commitment.
To the Department of Defense small business professionals – the acquisition staff, PTAC counselors, PCRs, and other officials that prioritize small businesses – your efforts are invaluable and are making a difference for our small contractors.
And to our SBA staff – especially our SBA procurement officials attending this conference -- you inspire me to work harder each and every day and deliver, as you do, for our nation’s small businesses.
The work you’re doing to help small contractors do business with the federal government is helping our nation build back better. Our small innovators are leading with life-changing, and life-saving work.
In the midst of the COVID-19 pandemic, the Department of the Army contracted with a small pharmaceutical company in Massachusetts that many Americans have heard of these days – Moderna -- to produce the mRNA covid-19 vaccines that are helping us put this virus in retreat.
Together with the Defense Logistics Agency, the Army also contracted with a Maryland small business -- the Federal Resources Supply Company -- to provide much-needed PPE including face shields, surgical masks and covid-19 sample collection kits.
And the Air Force worked with several small businesses through the Small Business Innovative Research, or SBIR, Program to explore advanced technology solutions to the covid-19 pandemic.
These are just a few examples of the innumerable ways that small businesses are helping to forge a better way forward for all of us.
We need more of this innovation that small businesses deliver. We need more of this creativity that our hard-working entrepreneurs are committed to. We need more of the products and services that so many U.S. based small businesses deliver to solve global problems.
I grew up in a small business family. I understand the grit and determination it takes to start, grow and sustain a small business. I’ve also been an entrepreneur myself – and worked with numerous founders across multiple sectors including businesses working to leverage the federal marketplace.
I understand firsthand what it means when complicated requirements and high costs in terms of money, time and resources, hold too many small businesses back from growth opportunities. And, I understand the challenges and barriers that limit the federal government from being more accessible to entrepreneurs in every corner of our nation.
Under my leadership, the SBA is working diligently to help more small businesses – especially those from underserved communities – connect with the government marketplace.
The Biden-Harris Administration is committed to lifting up our small business, spurring innovation, R&D and investments in our supply chains which will support our economy and global competitiveness .
President Biden recently announced a Buy American initiative – which includes a commitment to buy from all of America – and raise the domestic content threshold.
As part of this effort, we’re creating the new SBA manufacturing HUB office within the Office of Government Contracting and Business Development to help small manufacturers access federal contracts, with financing and business development support from the SBA. This office will help us coordinate activities across the agency in response to the President’s Executive Orders on Made-in-America, supply chain resiliency, and racial equity.
The Bipartisan Infrastructure Deal will be a game-changer for small businesses, providing unprecedented investment in infrastructure and global competitiveness.
And the Build Back Better agenda will help all of our small businesses, access capital and scale through more than $30 billion in investments at the SBA.GOV And, as we reimagine our economy to ensure everyone with an entrepreneurial dream and an idea has the support they need to start and grow, the Biden-Harris administration is working to create the programs and products for America’s entrepreneurs to be successful from funding to market access and networks for support.
All these new initiatives and programs will build on the groundwork that you all have created.
And let’s talk about our work in federal procurement.
I hope that you are as proud as I am of this year’s scorecard results – because despite the extreme challenges you all faced over the past year, you helped us exceed our 23 percent prime contracting goal for fiscal year 2020 – and earn an A for the entire federal government.
America’s entrepreneurs did $145.7 billion dollars in business with the federal government – which is a $13 billion dollar increase over the last fiscal year.
This success added close to a million jobs to the American economy, and created an additional $82.8 billion dollars worth of subcontracts for small businesses.
While these achievements are important to celebrate, we also recognize that there is much work to be done to advance equity in federal procurement.
President Biden’s day one Executive Order on Advancing Racial Equity and Support for Underserved Communities included instructions to all federal agencies to make federal contracting and procurement opportunities more readily available and remove barriers faced by underserved individuals and communities.
In his June 2021 speech in Tulsa, Oklahoma commemorating the centennial of the Tulsa Race Massacre, President Biden announced a goal of increasing the share of contracts awarded to small, disadvantaged businesses by 50 percent over five years.
The SBA is working to help us get there by expanding our 8(a), women-owned, mentor protégé, and Hub Zone programs, to ensure that more small, disadvantaged businesses are contract ready.
All these efforts are part of my vision that the SBA provide the resources and programs our small businesses need - swiftly and efficiently - and with a personal customer-centric approach that assures America’s entrepreneurs that we get it, we understand what it takes to start, grow and sustain a small business. And, that we are committed to helping ALL of them with equity at top of mind.
Our small businesses are depending on us to not only deliver crucial emergency relief to get them to the other side of this pandemic, but also to create what President Biden calls the long-term boom, the reimagining of our economy that gives all entrepreneurs the access to capital, markets and networks they need to thrive.
You all are such a big part of that work. I look forward to partnering with you to bring businesses back, create jobs and build an equitable economy that works for everyone.
Enjoy today’s training – and remember that the SBA is your partner in strengthening and supporting our nation’s small businesses.
Thank you.