Remarks by President Biden on the SBA Ladies’s Enterprise Summit | The White Home

East Room

2:43 P.M. EDT

THE PRESIDENT:  Thanks.  My title is Joe Biden.  (Laughter.)  I’m Dr. Jill Biden’s husband.  (Laughter.)  And I eat Jenis Ice Cream, chocolate chip.  (Laughter.)  I got here down as a result of I heard there was chocolate chip ice cream.  (Laughter.)

By the best way, I’ve a complete fridge full upstairs.  (Laughter.)  You assume I’m kidding, I’m not.

Ben, how are you, pal? 


THE PRESIDENT:  Top-of-the-line guys in america Congress, Ben Cardin.  (Applause.)

People, welcome to the White Home.

AUDIENCE:  Thanks.

THE PRESIDENT:  And its a delight to have you ever all right here.  And who’re these handsome youngsters again right here?  (Laughter.)

MS. BLAKELY:  These are my youngsters.

THE PRESIDENT:  Theyre your youngsters?  All 4 of them?


THE PRESIDENT:  Properly, arise, guys.  (Laughter and applause.)

Properly, I would like you to know, such as you, I had two brothers — there have been three in our household, three brothers, and one sister.  And my sister is smarter than all of us.  (Laughter.)  Not a joke. 

She was three years youthful than me; now she’s 23 years youthful than me.  (Laughter.)  You recognize, she managed each considered one of my campaigns for workplace, even again after I was in highschool.  We went to the identical college two years aside.  She graduated with honors; I graduated.  (Laughter.)  And we had a easy rule within the household: Hearken to Val.  (Laughter.)  My sister, Valerie, is unbelievable.

So, guys, be good to your sister.  You’re going to want her.  (Laughter.)  You’re going to want her.  I promise.

It’s the identical lineup.  You’re the oldest?  Who’s quantity two?  Quantity two?  Who’s quantity three?


THE PRESIDENT:  Youre twins?  Are you guys twins?

AUDIENCE MEMBER:  No, weren’t twins.  (Laughter.)

THE PRESIDENT:  Okay.  All proper.  Simply how — simply the way it was in our outfit.  Properly, I’m so glad to see you all, and thanks for coming with mother.  Okay?

You bought to handle your mother.  Dads are a lot more durable to boost.  However, you already know, had been — (laughter) —

Earlier than I start to talk, and the explanation I spent a bit of time on the children, I — I simply wish to communicate very briefly concerning the faculty capturing in Nashville, Tennessee.

You recognize, Ben and I’ve been doing this our entire careers, it appears.  And it’s simply — it’s sick.  You recognize, we’re nonetheless gathering the information of what occurred and why.  And we do know that, as of now, there are a selection of people who find themselves not going to — didn’t make it, together with kids.

And it’s heartbreaking.  A household’s worst nightmare.

And I wish to commend the police who repo- — responded extremely swiftly — inside minutes — to finish the hazard.

We’re monitoring the state of affairs actually carefully — Ben, as you already know — and we now have to do extra to cease gun violence.  It’s ripping our communities aside, ripping the soul of this nation — ripping on the very soul of the nation.  And we — we now have to do extra to guard our colleges in order that they aren’t became prisons.

You recognize, the shooter on this state of affairs reportedly had two assault weapons and a pistol — two AK-47.  So I name on Congress, once more, to move my assault weapons ban.  It’s about time that we start to make some extra progress.

However there’s extra to be taught.  However I simply needed to ship my concern and hearts out to so many dad and mom on the market.  I’ve been to so many of those websites, as Ben is aware of, by — just about each one.

And one of many stuff you of us ought to — I do know you do know, however it’s best to concentrate on — you already know, identical to when — within the navy — when my son was in Iraq for a 12 months, different locations, you — there’s so many members of the navy coming again with post-traumatic stress after witnessing the violence and taking part in it.

Properly, these kids, these lecturers, they need to be — needs to be specializing in their psychological well being, as nicely.

And so I’m grateful — anyway, sorry to start out off that means, however I couldn’t start with out acknowledging what occurred.  And now I’m grateful that each one of you might be becoming a member of us right here right this moment. 

Natalie, thanks for that introduction and for doing such a tremendous factor in Detroit — Detroit — making chan- — chargers for electrical autos within the Motor Metropolis — (laughs) — preserving going through the pandemic.  And I wish to welcome your son, Diop.  Wheres Diop?

Oh, there you might be, pal.  (Laughter.)  How are you?  (Applause.)  You bought to be happy with your mother.  You bought to be happy with your mother.

And due to of us like Natalie, in cities and cities all throughout America, we’re seeing satisfaction coming again.  You recognize, there’s nothing that simply type of saps the satisfaction of a metropolis or a city once they lose a enterprise, lose a big employer.  It simply feels such as you bought your soul ripped out.

However for therefore many pe- — you’re bringing so many individuals again.  You’re bringing again companies all throughout America, not simply within the East and the West Coast.

So, look, SBA Administrator Guzman is — I wish to thanks for every part you’ve finished, and on your staff too, supporting small companies throughout America.

We’re additionally joined, as I stated, by Senator Cardin, a chair of the highly effective Small Enterprise Committee and actually, not figuratively, a real champion of companies in every single place.

And, by the best way, he’s bought extra integrity in his little finger than most individuals have of their entire physique.  I imply it.  (Laughter and applause.)

And most of all, thank all of you, the small enterprise homeowners and entrepreneurs who’ve joined us right this moment.  That features three unbelievable panelists.

Sara began her enterprise in — out of her condo with $5,000 in a startup capital, and now she constructed just a bit ole billion-dollar firm.  (Laughter and applause.)  Whoa.

As my mom would say, God love you, expensive.  (Laughter.)  Whoa. 

Guys, you’re going to be okay.  (Laughter.)

Melissa started her enterprise in a kitchen whereas engaged on Wall Road.  Now it’s the most important Black-owned make-up firm offered in Goal shops all throughout America.  (Applause.)

And Payal mixed her enterprise coaching together with her lifelong ardour for dance, and created an train platform that has been utilized in 2,500 cities world wide.

And, by the best way, you had been right here a few months in the past performing with the dance firm for Diwali celebration.  You bought all of it, child.  You bought all of it.  (Applause.) 

I’m unsure — I’m unsure what’s within the playing cards right this moment about dance, and I’m not making any guarantees.   However simply — simply know she will.  

And ladies — these ladies know what it takes to start out an organization out of nothing and construct it into one thing that’s consequential. 

You recognize — they usually know what number of ladies on the market have the expertise, the abilities, and the dedication to start out profitable companies in the event that they solely had the chance. 

I used to have a good friend who was an ideal basketball participant, and his title is Pete McLaughlin.  He used to say, You bought to know find out how to know.  You’ve bought to know find out how to know.  And that’s a part of what the SBA is all about, when folks know find out how to know.

At present it’s all about lifting up ladies entrepreneurs and ensuring they’ve the assist they should succeed. 

The companies represented on this room stretch throughout industries, from eating places to architectural corporations to {hardware} shops, plus Jenis Splendid Ice Lotions.  (Applause.)  And by the best way — by the best way, it’s splendid.  (Laughter.)  You assume I’m joking.  If I had been allowed to take you upstairs, we bought a complete freezer filled with Jenis chocolate chip ice cream.  (Laughter.)

You recognize, it’s fairly uninteresting whenever you’ve been in public life so long as I’ve and youre recognized for 2 issues: chocolate chip ice cream and Ray-Ban sun shades.  (Laughter.)  However what the hell, you already know? 

Look, youre en- — entrepreneurs.  Youre innovators.  Youre job creators.  And small companies are the engine of our economic system — absolutely the engine.  Theyre the glue and the guts and the soul of our communities. 

Twelve million companies throughout America are owned by ladies.  Twelve million.  Small companies like yours account for 40 p.c — (applause) — you account for 40 p.c of the nation’s GDP.  You create two thirds of all the brand new jobs.  And you use almost half of all private-sector employees. 

For an American economic system is — to be sturdy, it’s going to should have a powerful sal- — small-business base.  It needs to be sturdy. 

We realized that once more through the pandemic.  Once I got here into workplace, the — this economic system was reeling.  Small companies had been hurting.  Actually lots of of hundreds of small companies had closed throughout the nation.  Thousands and thousands of Individuals, a lot of whom labored in small companies, misplaced their jobs by way of no fault of their very own. 

To jumpstart American financial restoration, we wanted to assist the small companies and we wanted to assist them quick.  So we set to work.  I signed the American Rescue Plan.  Since I took workplace, we’ve delivered greater than $450 billion in emergency reduction to six million small companies that can assist you pay your payments, to pay your employees, to maintain your doorways open. 

We gave further assist to greater than 100,000 eating places; greater than 13,000 stay leisure venues, that are — had been particularly laborious hit; and we powered historic help to 220,000 little one facilities — childcare facilities, 90 p.c of that are owned and staffed by ladies. 

By preserving these facilities open, hundreds of thousands of girls maintain their job.  Working dad and mom may go to work once more figuring out their kids had been being cared for.  It’s fixed.  They’re all linked.  All that is carefully linked. 

At present, because of actions like these, we’ve achieved the quickest, strongest, most equitable restoration in American historical past.  We’ve created 12.4 million new jobs.  That’s extra jobs — (applause) — thats extra jobs in two years than any president has created in a four-year time period.  And a m- — (applause) — and a majority — a majority of these jobs are held by ladies.

Unemployment is close to a 50-year low.  And report variety of folks have utilized to start out new companies — almost 10,500,000 functions up to now two years. 

You recognize, as all of you already know, each time somebody strikes to start out a brand new enterprise, it’s an act of hope.  It’s an act of hope.  We’re seeing numerous these throughout the nation.  Plenty of hope.  And as soon as once more, its ladies main the best way. 

In 2021, ladies began and owned half of all the brand new companies in america, up from lower than a 3rd had ladies began by them in 19- — in 2019.   Ladies-owned companies like yours add $1.8 trillion — $1.8 trillion to America’s GDP yearly, and that quantity grows. 

And now — now we’ll maintain that progress going. 

And you already know that the Small Enterprise Administration runs a community of Ladies’s Enterprise Facilities throughout — (applause) — you bought to know find out how to know.  You bought to know find out how to know.  (Laughter.)  Throughout all — all 50 States; Washington, D.C.; and Puerto Rico, as nicely. 

These are locations the place ladies who wish to begin or develop a small enterprise can get free enterprise counseling; apply for an F- — SBA mortgage; and compete for federal contracts. 

At present, I’m saying that we’re increasing the community of W- — Ladies’s Enterprise Facilities to 160 facilities nationwide, the most important variety of all American historical past.  (Applause.)  

Plus, by way of the American Rescue Plan, we’re investing $10 billion to make capital out there to small companies.  Ten billion {dollars} goes to packages run by states and U.S. territories and Tribal governments, which then match — are matched with private and non-private {dollars}, leveraging tens of billions extra and — for small companies. 

It’s about leverage.  That is very important.  As a result of we kn- — we all know — we all know that loads of corporations with potential don’t get off the bottom, or can’t develop as a result of they will’t get the startup funds or enterprise capital.  This is usually a main barrier for ladies entrepreneurs.

Final 12 months, startups with all-women groups obtained lower than 2 p.c — lower than 2 p.c of all of the enterprise capital {dollars}.

My administration — and specifically Vice President Harris — are working laborious to alter these numbers so extra Individuals with nice concepts and robust plans can get the enhance they should launch profitable companies.

As a result of, by the best way, it helps all people.  It helps all people.  After which, as we implement main items of laws that I signed into legislation through the previous two years, had been guaranteeing that ladies are absolutely on the desk.  And I imply that sincerely. 

From the historic Bipartisan Infrastructure Legislation rebuilding roads, bridges, water programs, high-speed Web throughout America, had been investing a — over 1 trillion 200 billion {dollars}. 

If had been going to be the main nation on this planet economically, we now have to have the main infrastructure on this planet.  And we rank on the — close to the underside of main — main corporations now — international locations, I ought to say. 

And the CHIPS and Science Act — I had hassle convincing folks of this — however investing lots of of billions of {dollars} — $300 billion — to revive Americas technological edge by — together with by manufacturing semiconductor chips.

By the best way, we invented these chips.  (Laughter.)  No, we did.  We, america of America.  After which we bought fats and joyful.  (Laughter.)  And it appeared like main firms thought it was higher to export jobs to get cheaper jobs and import product.  Not anymore.  (Applause.)   

And, by the best way, for the primary time, corporations receiving important federal {dollars} must be sure that high-quality childcare is out there to their employees — (applause) — so dad and mom can maintain their jobs and maintain good jobs.

You recognize, by the best way, these so-called fabs that they — the place they construct these pc chips — you already know what the typical wage goes to be within the fab?  $130,000.  (Applause.)  And also you don’t want a — you don’t want a school training.

The Inflation Discount Act — our nation’s greatest funding local weather ever, wherever.

Throughout all these legal guidelines, we’re making the — positive that ladies have entry to new jobs, new contracting alternatives in sectors the place they’ve been traditionally underrepresented — from manufacturing, to building, to scrub vitality.

And, by the best way, I’m now alleged to — I’m — I’m often called America’s most pro-labor senator.  Properly, guess what?  After which as — now, as President.  Properly, guess what?  They’re, the truth is, growing the variety of ladies who’re in labor unions.  Its bought to be — oh, no, you assume Im kidding?  Im not kidding. 

Ladies are greater than 50 p.c of the inhabitants, to state the apparent.  We wish to have the strongest economic system on this planet.  We are able to’t depart half the workforce behind.  Its that straightforward. 

And after we make main investments like these, small companies are going to learn as nicely.

Final 12 months, I went as much as Syracuse, New York, the place I went to high school.  Micron Know-how, a giant semiconductor chip manufacturing, is investing $100 billion to construct an enormous manufacturing facility — a so-called mega fab.  Properly, guess what?  It’s going to create 9,000 good-paying jobs. 

I met a girl named Shawni Davis.  She studied at Syracuse College.  Her dad launched her to electrical work.  He was an electrician.  She joined the IBEW — the Worldwide Brotherhood of Electrical Employees, accomplished her apprenticeship, was the primary Black lady within the metropolis to develop into a grasp electrician.  Now she owns her personal electrical enterprise.  (Applause.) 

And with Micron — with Micron making this enormous funding in Central New York because of the legislation we handed and pushed, meaning extra alternative for her firm and her employees.

And right here’s what she stated.  She stated, I’m a small enterprise now, however I’m not planning to remain a small enterprise.  (Laughter.)

Properly, all of you on this room know that sort of dedication.  That entrepreneurial drive is the guts of Americas spirit.  And we now have to be unleashing it by serving to extra ladies entrepreneurs launch their companies and obtain their desires.

Let me shut with this.  Throughout Ladies’s Historical past Month, we acknowledge the historical past of girls entrepreneurs in America, and it stretches again centuries.  However it was solely 35 years in the past, in 1988, that the Ladies’s — that the Ladies’s Enterprise Possession Act was signed into legislation.  Earlier than then, in lots of states, if a girl utilized for a enterprise mortgage, she wanted her husband, her father, or her brother to cosign for her.  Im not joking.

Once I handed the Violence In opposition to Ladies Act [Equal Credit Opportunity Act], I eradicated that since you used to should — to get to — to get a checking account too.  Are you able to think about?

Properly, because of all of you, we’re making up for misplaced time.  (Applause.) 

And for the ladies — for all the ladies who, by way of many years, have dreamed of getting their very own bus- — enterprise, making their very own cash, carving out the slice of independence however couldn’t as a result of the legal guidelines wouldn’t allow them to or they didn’t have the cash or household assist, that’s why what you’re doing right this moment, together with ladies throughout the nation, is so essential.

You’re serving to America be a firm [country] the place everybody — everybody can take part, the place everybody’s contribution is valued, and the place everybody has the liberty to pursue the desires and construct the longer term that they dream of. 

That’s been the promise of our nation from the beginning.  And also you’re making it actual for this technology and future generations.  And due to you, we’re going to proceed our progress within the years forward. 

You could have heard me say it earlier than, however I can truthfully say it with out worry of contradiction: I’ve by no means been extra optimistic — I imply this from the underside — and Ive been doing this — I do know I don’t look it, however I’ve been doing this a very long time.  (Laughter.)  I want considered one of you to assist me out right here.  However at any fee — (laughter) —

However Ive been doing this a very long time, however I’ve by no means been extra optimistic about America’s future than I’m right this moment.  I imply it sincerely. 

We simply have to recollect who within the hell we’re.  Had been america of America.  There’s nothing, nothing, nothing past our capability after we set our thoughts to it.  Nothing.  So — (applause) — I imply it.  I imply it.

(Inaudible) requested me if I may solely do one factor, what would I do.  I stated, I’d treatment most cancers.  And so they stated, Why is that?  It’s not simply because most cancers impacts so many individuals.  It’s a giant factor.  And Individuals are starting to wonder if they will do large issues anymore. 

Properly, guess what?  We’re going to treatment most cancers.  Had been going to treatment most cancers in about 25 years.  (Applause.)  Weve simply invested $5 billion greater than I used to do it.

So, look, on behalf of a grateful nation, I wish to thanks all since you’re such an inspiration to so many women and men across the nation.  You actually are.  You really are. 

And God bless you all.  And should God defend our troops. (Applause.)  Thanks, thanks, thanks.

People, I cant keep.  Ive bought to go, however I hope you’ve got a superb convention right here, and I hope you’ve got a superb roundtable.  And theres a bit of factor happening in — world wide. 

However anyway, I higher — thanks so very, very a lot for every part.  (Applause.) 

3:03 P.M. EDT

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