Recognizing National Entrepreneurship Week
Floor Speech
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Mrs. McBATH. Mr. Speaker, I rise today in honor of National Entrepreneurship Week. During Black History Month, I am proud to recognize and celebrate the achievements of Black small business owners and champion solutions that will build on the progress that has been made.
Thanks to historic federal investments through the American Rescue Plan, the Bipartisan Infrastructure Law, and the Inflation Reduction Act, Black business ownership is growing at its fastest pace in 30 years and Black wealth is up 60% from prior to the COVID-19 pandemic. While we celebrate these historic gains, it is important to recognize the challenges that Black small business owners still face when seeking access to credit. According to the Alliance for Entrepreneurial Equity, Black-owned businesses are three times more likely to be labeled a higher credit risk than non-Black counterparts, and 72 percent of businesses use personal savings to overcome difficulties accessing credit from other sources.
Business owners in my district have experienced these barriers. Che Houston, the ``Macaron Maven of Atlanta'' and owner of Che Rene Macarons & More, has herself experienced difficulty securing financing for her growing business. Despite these challenges, Che's business has continued to grow at a rapid pace. Last year, she earned recognition as OUT Georgia Business Alliance's New Business of the Year, and she continues to serve as an Ambassador for OUT Georgia Business Alliance where she assists new members in Food and Beverage startups. She is also a stakeholder with the Russell Innovation Center for Entrepreneurs.
Here in Congress, I am fighting for solutions that will eliminate barriers that business owners like Che face when developing and growing their small businesses. And back home, I am committed to sharing federal resources that have been made possible through the historic investments from the Biden-Harris Administration. I urge my colleagues to consider additional solutions to help our entrepreneurs thrive. Together, we can champion solutions that invigorate our communities and strengthen our economy.
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