Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) and Federal Trade Commission (FTC) Chair Lina Khan convened to discuss strategies for enhancing small business competitiveness. The discussion, held in Washington, aimed at ensuring equitable market opportunities for small businesses under the Biden-Harris Administration.
“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.”
Chairwoman Khan emphasized the FTC's commitment to maintaining open and competitive markets: “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. 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 conversation highlighted several initiatives by both agencies. Administrator Guzman pointed out that under the current administration, there has been a significant increase in government contracting awarded to small businesses—28.4% in Fiscal Year 2023—and improvements in small business lending through simplified loan programs. Meanwhile, the FTC's enforcement of antitrust laws aims to foster fair competition; it recently finalized a rule banning noncompete clauses which could lead to an estimated 8,500 new businesses annually.
The discussion occurred during the 2024 annual meeting of SBA’s Regional Regulatory Fairness Boards. These boards consist of 32 volunteer small business owners from across SBA’s 10 Regions who advise on federal regulatory concerns affecting 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 this two-day event, board members shared insights from their engagements with over 4,000 participants nationwide about regulatory impacts on small businesses. They also discussed future plans for enhancing regulatory compliance and fair treatment for these enterprises.