SBA Administrator Guzman and FTC Chair Khan Discuss How to Enhance Small Business Competitiveness
“Under the Biden-Harris Administration, the SBA, the FTC, and other federal agencies have worked to ensure equitable market opportunity, and discussions like today’s are a crucial part of our continued work together to prioritize competition and a level playing field for our small businesses,” said Administrator Guzman. “Equipping entrepreneurs with knowledge, networks, and resources to navigate federal agencies and regulation strengthens them so they can compete successfully in the marketplace.”
“A key part of the FTC’s work is making sure our markets are open, fair, and competitive so that small businesses and entrepreneurs have a fair shot,” said Chairwoman Khan. “The ability to start and run your own business is a core part of our American economic freedoms, and the FTC is going to keep using all of our tools to make sure small businesses and entrepreneurs can compete.
The full discussion can be viewed here.
During the conversation, Administrator Guzman highlighted the SBA’s work to increase competition in government contracting and small business lending. Under the Biden-Harris Administration, the federal government has broken small business contracting records for three straight years, with 28.4% of all contracting dollars awarded to small businesses in Fiscal Year 2023. The SBA’s historic rulemaking simplifying its loan programs has also led to a doubling of small-dollar loans under the agency’s signature 7(a) loan program.
The FTC enforces the nation’s antitrust laws to ensure fair competition in the marketplace, which is a vital component to the success of small businesses. The FTC also recently finalized a rule to ban noncompete clauses; if the rule goes into effect, the FTC estimates that 8,500 new businesses would be started every year.
The discussion took place during the 2024 annual meeting of the SBA’s Regional Regulatory Fairness Boards. The Board consists of 32 volunteer small business owners serving as members across SBA’s 10 Regions. Board members advise the SBA National Ombudsman on matters of federal regulatory concern to small businesses. At the annual meeting, the board members engaged in discussion and shared concerns with Administrator Guzman and agency leaders related to matters of federal regulatory issues for small businesses.
“The SBA and other federal agencies benefitted greatly from the advice and experience of each of the 32 Regulatory Fairness Board members who attended the 2024 Annual Board Meeting. As small business owners themselves, Board members made invaluable recommendations drawn from their diverse local communities and industry networks on how to help level the playing field between small and larger businesses,” said National Ombudsman Michele Schimpp.
During the two-day event, Board Members also highlighted the results of their engagement with small businesses across the country in events involving over 4,000 participants, where they heard about the impact of new and existing regulations. Looking forward, Board members made plans to enhance the work of the Office of the National Ombudsman and to promote regulatory compliance and the fair treatment of small businesses.
Regulatory Fairness Board Members Provide Regional Perspectives to Federal Agencies
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 34 million small businesses, joined Federal Trade Commission Chair Lina Khan to discuss ways the SBA and FTC are helping small businesses compete on a level playing field with large businesses.
