The White House has revealed that the number of small business applications in the United States has exceeded 17 million since President Joe Biden assumed office.

SBA Head Says Joe Biden Ignites a 'Historic Small Business Boom'

Isabel Casillas Guzman, the head of the US Small Business Administration (SBA), said Joe Biden's investing in "America agenda" has set off "a historic small business boom, as more Americans than ever seek to start a business."

The federal government reported an average of 440,000 new business applications monthly for the first three years of the Biden administration, 45% higher than the average of the prior four years. 

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New Business Applications 90% Higher Than Pre-Pandemic Averages

According to the SBA's report, the annual growth in new business applications under the Biden administration is 90% higher than pre-pandemic averages, marking a substantial surge in entrepreneurship, particularly among women, Latinos, and Black Americans, 

"With new business applications being filed at a rate well above historical averages, it's clear that this surge in entrepreneurship is not a coincidence or COVID rebound alone, but rather the direct result of President Biden's economic leadership and this Administration's investments in America, which are creating opportunity for more entrepreneurs," Isabel Casillas Guzman said in a statement. 

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