The SBA and USDA Partner to Grow Rural American Small Businesses

Administrator Isabel Casillas Guzman of the U.S. Small Business Administration (SBA) announced a strengthened partnership with the U.S. Department of Agriculture (USDA). This collaborative effort aims to bolster job creation and economic growth in rural communities, marking a pivotal moment for America’s 33 million small businesses.

A Commitment to Rural Prosperity

“Rural small businesses strengthen local economies – creating jobs and serving communities,” stated Administrator Guzman. This partnership reinforces the Biden-Harris Administration’s dedication to invigorating underserved rural areas, focusing on equipping entrepreneurs with essential resources to flourish and enhance the nation’s economy and global competitiveness.

The memorandum of understanding (MOU), signed today, signifies a joint commitment by the SBA and USDA to amplify investments in small and underserved communities. This initiative is expected to stimulate the rural economy and generate quality employment opportunities across the nation.

Expanding Opportunities and Resources

A core aspect of this partnership is the expansion of opportunities for rural technical assistance providers, entrepreneurs, and small business owners. The collaboration aims to equip rural businesses with the tools to compete effectively in both domestic and international markets.

Key initiatives under the MOU include:

• Joint trainings, technical assistance, and mentorship programs for rural small business owners and entrepreneurs.
• Assistance for agricultural producers and small businesses in exploring export opportunities globally.
• Enhanced collaboration between the SBA’s Resource Partners Network and USDA’s Rural Partners Network.
• Cross-promotion of programs supporting rural businesses and socially disadvantaged communities.

Implications for Small Business Owners

This strengthened alliance between the SBA and USDA is a game-changer for small business owners in rural America. By providing improved access to resources, training, and international market opportunities, rural entrepreneurs can anticipate enhanced support in their endeavors. This partnership not only promises to invigorate individual businesses but also to stimulate the broader rural economy, creating a ripple effect of growth and prosperity.

For small business owners in rural areas, this development offers a beacon of hope and a pathway to success. The combined expertise and resources of the SBA and USDA are set to unlock new possibilities, fostering an environment where rural businesses can thrive and contribute significantly to the nation’s economic fabric.

As this partnership unfolds, it is poised to become a cornerstone of economic development in rural America, symbolizing a renewed commitment to ensuring that no community is left behind in the pursuit of progress and prosperity.

Image: Envato Elements

This article, “The SBA and USDA Partner to Grow Rural American Small Businesses” was first published on Small Business Trends