Economics News on Business Daily

Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and representative for America's over 33 million small businesses in President Biden’s Cabinet, announced today a $300,000 funding allocation to three organizations. These funds are intended to deliver the SBA’s Women Veteran Entrepreneurship Training Program (WVETP) to local veterans.

Progressive Insurance® and Hello Alice have teamed up to launch a new grant program aimed at supporting small business owners across the United States. The Driving Small Business Forward grant program will award 20 recipients with a $50,000 grant each to be used towards the purchase of a commercial vehicle for their business.Karen Bailo, Commercial Lines President at Progressive Insurance, expressed the company's commitment to empowering small business owners through this initiative, stating, "As a purpose-led company, Progressive is committed to empowering small business...

In an effort to increase economic opportunities for returning citizens, the Biden-Harris Administration has implemented a new rule aimed at removing barriers that have long hindered individuals with criminal histories from accessing small business loans. The rule, finalized by Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA), will allow more returning citizens, including those on parole and probation, to be eligible for SBA-backed loans to start or grow their businesses.SBA Administrator Guzman emphasized the significance of this rule...

WASHINGTON – SBA Administrator Isabel Casillas Guzman led a roundtable at the White House to mark the beginning of the 2024 National Small Business Week. The event aimed to announce the release of the SBA’s Fiscal Year 2023 Procurement Scorecard and showcase the Biden-Harris Administration's dedication to supporting small businesses since taking office.Administrator Guzman, alongside National Economic Council Director Lael Brainard and White House Domestic Policy Advisor Neera Tanden, highlighted the achievements in small business contracting. The SBA Administrator...

WASHINGTON – 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 33 million small businesses, named Iam C. Tucker of Integrated Logistical Support, Inc. (ILSI) in Louisiana as the National Small Business Person of the Year for 2024 at the National Small Business Week (NSBW) awards ceremony in Washington, D.C.Administrator Guzman expressed her admiration for the winner, stating, "The SBA is proud to recognize 2024 National Small Business Person of the Year Iam...

WASHINGTON – The Biden-Harris Administration has set a new milestone by awarding a record-breaking $178.6 billion in federal procurement opportunities to small businesses, exceeding the Fiscal Year 2023 small business contracting goal of 23%. This achievement was highlighted by SBA Administrator Isabel Casillas Guzman during a roundtable discussion to mark National Small Business Week.Administrator Guzman emphasized the administration's commitment to supporting small businesses, stating, "Through President Biden’s Investing in America agenda, we have championed...

Progressive Insurance has revealed plans to hire thousands of individuals for various roles across the United States in 2024. The company, known for its progressive and inclusive company culture, is actively seeking qualified candidates to support its expanding customer base.Bill Clawson, Progressive's Chief Human Resources Officer, emphasized the importance of the company's workforce, stating, "Our talented group of more than 60,000 employees across the country are at the forefront of what we do, and we're committed to meeting the needs of our current employees as well...

Progressive Insurance has announced plans to hire thousands of job seekers for various roles across the country in 2024 as part of its continued growth. The company reported a significant increase in total revenue in 2023 and has maintained this growth into the new calendar year, prompting the need for more employees to support its expanding customer base.Bill Clawson, Progressive Chief Human Resources Officer, emphasized the importance of their workforce by stating, “Our talented group of more than 60,000 employees across the country are at the forefront of what we do,...

SBA Administrator Isabel Casillas Guzman is set to launch National Small Business Week (NSBW) events in Washington, D.C. on April 28-29. The event will bring together the 2024 Award Winners, individuals who exemplify the resilience and determination driving the nation's economy.During the event, the Small Business Administration (SBA) will honor various stakeholders for their contributions to entrepreneurial development, federal contracting, lending, disaster recovery, and more. Administrator Guzman stated, "The press is invited to attend all events and must RSVP......

Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced the recognition of the 2023 T.H.R.I.V.E. Emerging Leaders Reimagined cohort winners in Seattle and North Metro Puerto Rico. Guzman emphasized the Biden-Harris Administration's commitment to supporting small businesses through initiatives like the T.H.R.I.V.E. program, stating, "T.H.R.I.V.E. trainers play a crucial role in developing a robust network of trusted advisors and peer support networks across the country."The T.H.R.I.V.E. program, which stands for Train. Hope....

The U.S. Small Business Administration (SBA) has announced the winners of the 2024 Growth Accelerator Fund Competition (GAFC) Stage One, with each recipient receiving $50,000 in prize awards. Administrator Isabel Casillas Guzman highlighted the significance of these winners in fostering innovation and supporting small businesses, stating, "SBA’s Growth Accelerator Fund Competition Stage One winners join the SBA’s incredible network of entrepreneurial support organizations contributing to America’s innovative startup ecosystem."The competition focused on three theme areas:...

The Consumer Price Index (CPI-U) for the New York-Newark-Jersey City region rose by 0.4% in March 2024, reflecting a 3.4% increase over the past year, driven primarily by higher costs for shelter and energy, as reported by the U.S. Bureau of Labor Statistics (BLS).

WASHINGTON –Today, the U.S. Small Business Administration (SBA) and SCORE, mentors to America’s small businesses and a resource partner of the SBA, announced the schedule for the 2024 National Small Business Week Virtual Summit. The two-day online event, co-hosted by the SBA and SCORE, will take place from April 30 to May 1. Attendance is free of charge, but registration is required. To register, visit National Small Business Week Virtual Summit registration.This year’s National Small Business Week’s theme – “Building on the Small Business Boom” –celebrates the surge in...

Progressive Insurance has announced the list of agents who achieved a Priority 20 standing in 2023. Tricia Griffith, CEO of Progressive, expressed her excitement in celebrating with the high-performing agents who made the list. She stated, "When I received the latest list of agencies that achieved Priority 20 status based on their 2023 business results, I was so excited to celebrate with them. This prestigious award is a testament to the dedication and remarkable achievements of these independent agents. They have truly taken our partnership to new heights, showcasing...

Progressive Insurance CEO, Tricia Griffith, expressed her delight in recognizing the top 25 Progressive Platinum Program Blue-level agents who achieved a Platinum 25 standing in 2023, stating, “Once again, I’m delighted to recognize our newest class of Platinum 25 honorees.” She commended these agents for their commitment to building their preferred bundled home and auto business with Progressive while providing exceptional service to customers, saying, “We’re honored to welcome this year’s class and applaud their achievements.”The 2023 Platinum 25 agents include Couri...

Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA), praised President Biden's administration for surpassing the annual goal for federal contracting dollars awarded to Small Disadvantaged Businesses (SDBs) in FY2023. Guzman stated, "Today’s announcement shows the results, with a new record of contract spending with Small Disadvantaged Businesses and steady progress towards President Biden’s goal of awarding 15% of federal contracting dollars to Small Disadvantaged Businesses by FY2025."In response to President Biden's call to...

WASHINGTON – In a statement released today by Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), it was revealed that an astonishing 17 million new business applications have been filed under the Biden-Harris Administration.Guzman emphasized the impact of President Biden's economic leadership, stating, “President Biden’s Investing in America Agenda has ignited a historic Small Business Boom, as more Americans than ever seek to start a business.” She highlighted the significance of each new business as "an act of hope and confidence...

WASHINGTON – 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 33 million small businesses, announced the launch of the SBA’s new Investing in America Small Business Hub. This hub is described as the first and only digital portal of its kind providing industry-specific resources to help small businesses tap into opportunities under President Biden’s signature Investing in America (IIA) Agenda.Speaking about President Biden's economic agenda, Administrator...

WASHINGTON – Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA), announced the recognition of Argosy Private Equity of Wayne, Pa., and Mizzen Capital, LP of Stamford, Conn., as the 2024 Small Business Investment Companies (SBICs) of the Year. The awards ceremony will take place during National Small Business Week from April 28 to May 4.Guzman praised the awardees, stating, "Filling capital gaps is core to the SBA’s mission, and we rely on an incredible network of SBIC-licensed funds to help us deliver. I am proud to recognize two...

SBA Administrator Isabel Casillas Guzman traveled to Memphis, Tennessee for a tour of American Paper Optics’ facility with business owner John Jerit and members of his leadership team. During the tour, Administrator Guzman learned how American Paper Optics used SBA resources to sustain operations during the pandemic, and how the business evolved into the largest manufacturer of paper 3D eyewear and solar eclipse viewing glasses in the world."The 2024 total solar eclipse is generating a spending surge nationwide, and small businesses are playing a large role in meeting...