Supporting Women and Minority-led Small Businesses
Adopted at the 90th Annual Meeting in 2022
WHEREAS, the COVID-19 pandemic has severely impacted small businesses across the United States, affecting the 61.2 million employees of small businesses nationwide, which comprise nearly half of the U.S. workforce; and
WHEREAS, women and minority-led small businesses have been the hardest hit by the pandemic; and
WHEREAS, women and minority-led small and medium-sized businesses (SMBs) in the United States were more likely to be closed, report a drop in sales, or report reduced enrollment due to the pandemic compared to other SMBs, according to a 2021 report by Meta in collaboration with the Small Business Roundtable; and
WHEREAS, women and minority-owned small businesses were more likely to close during the first several months of the pandemic compared to other small businesses, according to analysis by the National Bureau of Economic Research; and
WHEREAS, small businesses continue to struggle as cities emerge from the pandemic slowdown; and
WHEREAS, women and minority-led small businesses face structural challenges that have led them to be historically underserved by venture capital and underrepresented in our economy, even before the global COVID-19 pandemic; and
WHEREAS, the Minority Business Development Agency (MBDA) was first established in 1969 to grow and expand minority businesses in the United States, helping minority founders access government contracts and capital; and
WHEREAS, the Infrastructure Investment and Jobs Act, signed into law by President Joe Biden on November 15, 2021, expanded the MBDA and established it as a permanent agency under the U.S. Department of Commerce; and
WHEREAS, the U.S. Small Business Administration was created in 1953 as an independent agency of the federal government to aid, counsel, assist, and protect the interests of small business owners and strengthen the overall economy of our nation; and
WHEREAS, the U.S. Small Business Administration released an Equity Action Plan on April 14, 2022 to reaffirm its commitment to breaking down longstanding barriers to ensure underserved entrepreneurs can access needed capital, networks, and resources, and to level the playing field for all small businesses and startups; and
WHEREAS, the members of The United States Conference of Mayors find the disparities impacting women and minority-led small businesses unacceptable;
NOW, THEREFORE, BE IT RESOLVED, that The United States Conference of Mayors urges Congress and the Administration to provide increased support for women and minority-led small businesses in order to accelerate their recovery and help them become established; and
BE IT FURTHER RESOLVED, that The United States Conference of Mayors supports the U.S. Small Business Administration's efforts to support historically underserved small businesses, including through the Community Advantage Pilot Program; and
BE IT FURTHER RESOLVED, that The United States Conference of Mayors attests to the critical role played by women and minority-led small businesses in building a dynamic and diverse workforce and strengthening our nation's economy; and
BE IT FURTHER RESOLVED, that The United States Conference of Mayors affirms its commitment to close the equity gap impacting small businesses and promote equitable economic opportunities for all.