The Latest from Small Business Roundtable

WASHINGTON, D.C.– On August 4th, Small Business Roundtable (SBR) Co-Executive Director and Founder of Public Private Strategies Rhett Buttle joined Commerce Secretary Gina Raimondo and Labor Secretary Marty Walsh for a discussion of the current state of the American economy and the launch of the Job Quality Toolkit. 

Following the event, SBR Co-Executive Director & Founder of Public Private Strategies Rhett Buttle issued the following statement regarding the release of the Department of Commerce Job Quality Toolkit:

“As we continue to recover from the pandemic, small businesses are at the forefront of creating good jobs. Creating good jobs is key for small employers to retain talent under the current tight conditions of the labor market and maximize the growth of their business. This Job Quality Toolkit is a step forward for small employers who want to be the best workplace they can be. SBR looks forward to working with Secretaries Raimondo and Walsh to use our combined tools to help small businesses continue to grow and create good jobs in their communities.”

Access to capital is essential for women entrepreneurs when starting or growing a business. But finances and credit scores can be intimidating and are often not well understood. Indeed, in a recent survey the National Association of Women Business Owners (NAWBO) did with payroll platform Gusto, more than two-thirds of women business owners had utilized personal savings to fund their business, while much fewer had acquired a private business loan (23%) or a SBA-backed loan (15%) that would require the use of a credit score.

Earlier this month at NAWBO’s 2022 Advocacy Days in Washington, D.C., FICO joined SBR members NAWBO and NASE in a panel discussion to stress the importance of access to capital to women entrepreneurs, educate women business owners on how credit scores work, and provide them with the financial tools and resources they need to thrive.

Dear Chairman Brown and Ranking Member Toomey,

On behalf of the Small Business Roundtable (SBR), we write to urge an expeditious confirmation of nominees Lisa Cook and Phillip Jefferson to the Federal Reserve. The Small Business Roundtable is a coalition of leading small business and entrepreneurship organizations, dedicated to advancing policy, securing access, and promoting inclusion to benefit the businesses at the heart of the American economy. 

As you know, America’s 32.5 million small businesses are the backbone of our economy, comprising 99.9 percent of all firms and employing 61.2 million workers. The U.S. economy continues to recover from Covid-19, growing at a rate of 5.7 percent last year in 2021, the highest annual rate in over three decades. Small businesses played a critical role in this historic growth, with more than 9.8 million new business applications filed in the last two years.

Through the Federal Reserve’s mandate to maximize employment, stabilize prices, and maintain interest rates, it will play an important part in determining small businesses’ access to capital and overall growth in the years to come. We urge the Senate to hastily confirm nominees Lisa Cook and Phillip Jefferson to the Federal Reserve.

Washington, D.C. - SBR Leaders issued the following statements in response to President Biden signing the Infrastructure Investment and Jobs Act into law:

Rhett Buttle & John Stanford, Co-Executive Directors of Small Business Roundtable

“We applaud Congress and the President in seeing this infrastructure package over the finish line. While ‘infrastructure week’ became a punchline in Washington, these investments in roads, bridges and technology are not a joke to American small businesses. The bipartisan compromise on this legislation shows that good policy can still be the product of advocacy and we hope more efforts like this can break the unending gridlock plaguing Washington. There are big victories for small businesses that will see more contracts and technical assistance to America’s job creators. We hope these benefits can be expanded – and in some cases funded – through the Build Back Better Act.”

Washington, D.C - The Small Business Roundtable (SBR), a coalition of leading small business and entrepreneurship organizations, is pleased to welcome Women Impacting Public Policy (WIPP) as a new member of SBR’s national small business collaborative.

WIPP President & CEO, Candace Waterman, said the following: 

“As we look ahead towards economic recovery, we are thrilled to join Small Business Roundtable and combine our efforts with these industry leaders to advocate for small businesses, especially for those disproportionately affected by the pandemic. WIPP brings more than 20 years of experience in advocating for women small business owners, and looks forward to bolstering SBR efforts to improve opportunities for women entrepreneurs, a crucial part of the small business community.”

Washington, D.C. - SBR Leaders issued the following statements in response to Bipartisan Infrastructure Agreement:

Rhett Buttle & John Stanford, Co-Executive Directors of Small Business Roundtable

“This bipartisan framework shows that it is possible to work across the aisle to better roads, bridges, transit and rail to benefit Americans across the nation and enable them to return to work. Many provisions would bolster the American competitive marketplace and economy and create new opportunities for small businesses and workers. We know this package doesn’t include or tackle everything -- that’s what compromise is about. We look forward to continued conversations on topics such as paid leave, lowering healthcare costs, increasing contracts and capital to women and business owners of color. We will continue to work with the Administration and Congress in ensuring that the small business community remains a priority in this package and future legislation.”

Capital drives entrepreneurial success, and, unfortunately, the Coronavirus pandemic caused this past year to be more difficult than most for small businesses across the nation. According to Small Business Roundtable’s State of Small Business Report, 28% of small and medium-sized businesses (SMBs) said the biggest challenge they would face in 2020 would be cash flow. As we begin to look beyond COVID-19 relief, access to capital remains an evergreen issue and priority for the small business community.

This virtual briefing explores how entrepreneurs have financially navigated the pandemic, SBA loans and grants outlined by COVID-19 legislation, and alternative ways for entrepreneurs to increase their access to the capital market and scale their businesses.

Nuestros Negocios & USHCC CARES: Partnerships to Empower Small Minority-Owned Businesses to Navigate COVID-19

Small Business Roundtable, in partnership with H&R Block, held an informational session on the tax-implications of this past year's COVID relief legislation. As small business owners across the country prepare to file for 2020, don't miss this opportunity to receive unique insight from one of the leaders in tax preparation.

Small Business Roundtable celebrated women’s entrepreneurship during Women’s History Month. This event featured remarks from key women leaders and convened the CEOs of women’s entrepreneurial groups to reflect on female resiliency during the COVID-19 pandemic and looked ahead at what’s to come. Discussion topics included how women-owned small businesses are navigating the pandemic, have removed market and supply chain barriers, options for capital access, and exploring additional opportunities to help women entrepreneurs thrive in 2021.

The small business community applauds the confirmation of Isabella Guzman as the new Administrator of the Small Business Administration (SBA). As America’s largest small business coalition, Small Business Roundtable (SBR) and its members are enthusiastic to work with Administrator Guzman and the SBA in implementing the American Rescue Plan Act (ARPA) and prioritizing the small business community during this difficult time.

Administrator Guzman brings vast knowledge from her time as the director of California’s Office of the Small Business Advocate and deputy chief of staff at the SBA during the Obama Administration. Her extensive experience on topics such as access to capital and federal contracting will be crucial as the nation works towards small business recovery from both the COVID-19 pandemic and subsequent economic recession. Additionally, she has the qualifications to suitably handle the implementation and execution of additional COVID-relief enacted by Congress.

SBR and its membership have provided the following statements congratulating Administrator Guzman during this momentous time. 

SBR Co-Executive Directors John Stanford and Rhett Buttle issued the following statement:

“We are thrilled to celebrate Administrator Isabella Guzman’s recent confirmation as the 27th Administrator of the Small Business Administration (SBA). As a lifelong advocate of the American small business community, Administrator Guzman’s experience is valuable as the agency undertakes implementation of the American Rescue Plan (ARP), including the $15billion in flexible grants for the smallest of businesses, $28.6 billion Restaurant Revitalization Fund, Paycheck Protection Program, and State Small Business Credit Initiative. We look forward to working with the SBA in supporting the backbone of our economy by improving market access, supply chains, supporting main street businesses, and building towards long term equity.”

Washington, D.C. – 

SBR Co-Executive Directors John Stanford and Rhett Buttle issued the following joint statement:

“Small business owners are a family 30 million strong, brought together regardless of race, creed, gender, or religion through the dream and rewarding challenge of entrepreneurship.  Small Business Roundtable (SBR), our country’s largest small business coalition, stands with Asian American Pacific Islander community during this challenging time. We are particularly proud of the National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship, a member of the SBR family.  Every member of the Small Business Roundtable, our team, and leadership are committed to working with them going forward to ensure that there is no place for violence, bigotry, and hate in our community.”

The panel discussion covered topics such as: 
•   The experience of small businesses, particularly minority-owned businesses, with the Paycheck Protection Program and Economic Injury Disaster Loans 
•   Lack of data collection on program recipients
•   Recommendations to improve communication between government agencies administering programs and their participants to better reach diverse audiences;
•   Fraud, waste, and abuse in pandemic response programs.

Small Business Roundtable hosted a conversation with Former Starbucks CEO Howard Schultz and US Senator Michael Bennet . They discussed the future of America's small businesses and what the RESTART ACT would do to help them.

Dear Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, Republican Leader McCarthy:

On behalf of the undersigned organizations, including the Small Business Roundtable (SBR), an organization that represents more than 30 million small businesses across America, we write to express our strong support for expanding eligibility to 501(c)(6) organizations to apply for loans under the Paycheck Protection Program. 

In many instances, the thousands of local chambers and business association chapters across the country are the single source of information guiding these small businesses during this time of crisis. By including these organizations, Congress will ensure that small businesses receive the necessary resources, technical assistance, and direction during the economic recovery.