Press release 23-48

U.S. Small Business Administration Marks 70th Anniversary

Federal Agency Highlights Its Legacy of Success in Supporting Millions of Small Businesses

WASHINGTON – SBA Administrator Isabella Casillas Guzman issued the below statement ahead of the 70th anniversary of the U.S. Small Business Administration (SBA). The SBA was founded by President Dwight D. Eisenhower in 1953 when he signed the landmark “Small Business Act,” which established the agency and made it a policy to support and protect the interests of small businesses. 

To celebrate this milestone and kick off SBA’s monthlong anniversary celebration, Administrator Guzman will ring the closing bell at the New York Stock Exchange on July 31 at 4 p.m. ET. A livestream of the bell ringing can be viewed at The SBA will also announce 68 Legacy Business recipients in the coming days and weeks, with events honoring those businesses in multiple cities around the United States. Many Legacy Business recipients started small and leveraged SBA resources on their journey to becoming household names.

Statement from U.S. Small Business Administrator Isabella Casillas Guzman:

“America’s small businesses are giants in our economy — creating jobs and making the products and services that define our everyday lives. For 70 years, the U.S. Small Business Administration has helped entrepreneurs gain the know-how and the funding to start and grow. And we’ve stepped in when disasters disrupt the market to make sure that not only small businesses recover, but that the communities they serve do too. The results are undeniable: In the seven decades since its founding, the SBA has financed billions, fueled some of our most iconic brands and innovative industries, and helped millions of hopeful entrepreneurs realize their American Dreams of business ownership. We have ensured competition and innovation through entrepreneurship to fuel the world's strongest and largest economy. 

 "As we enter our eighth decade, SBA is building on a record 12.2 million small businesses application boom fostered by President Biden’s Investing in America agenda and a strong commitment to equity that continues to expand access to entrepreneurship in underserved communities. By growing our economy from the middle out and the bottom up, leveling the playing field, and creating equitable access to opportunities, we are building a lasting foundation for economic growth and our nation’s global competitiveness.”

For media inquiries or additional information, please contact


About the U.S. Small Business Administration

The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit

Media contacts

U.S. Small Business Administration