White House Commitment to Smallest and Minority-owned Businesses Key to Solving Economic Crisis

On today’s White House press conference on small business relief, Main Street Alliance Government Affairs Director Didier Trinh had this to say:

“Small businesses across the country are glad to see a recommitment to prioritizing their needs as we continue through an ongoing pandemic and economic crisis.

More outreach and a focus on the accessibility and equitable distribution of COVID relief for minority-owned businesses is a welcome priority after a year of free-for-all, first-come first-served chaos. Small business owners without accountants and back office supports need the hands on support and technical assistance that navigators can provide.

The investment in supporting small businesses through the relief programs must also be matched with a long-term commitment to expanding equitable access to capital and increased technical assistance to support new and growing small businesses after the crisis. The COVID crisis has revealed and exacerbated pre-existing barriers to capital for such firms, including small business redlining, usury credit rates and practices, and lack of other supports and technical assistance needed to launch and grow a successful business. Main Street Alliance has outlined key small business priorities for this immediate crisis, and beyond, and looks forward to working with the administration to implement these priorities.”