In a recent announcement, Isabel Casillas Guzman, the Administrator of the U.S. Small Business Administration (SBA), has revealed an enhanced collaboration with the U.S. Department of Agriculture (USDA) aimed at job creation and improved market opportunities in rural America.
The strengthened partnership between the SBA and USDA underscores the Biden-Harris Administration’s commitment to investing in underserved rural communities. The initiative aims to provide the necessary resources to help them establish and grow businesses, thereby enhancing the economy and global competitiveness.
A memorandum of understanding (MOU) was signed between the two agencies, committing to increase investments in small and underserved communities. This move is expected to stimulate the rural economy and create well-paying jobs across the country.
The agencies also pledged to broaden opportunities for rural technical assistance providers, entrepreneurs, and small business owners. In addition, they will furnish resources to assist rural businesses in competing in both domestic and international markets.
As part of the MOU, the SBA and USDA may engage in several collaborative efforts. These include providing joint trainings, technical assistance, and mentorship opportunities for rural small business owners and entrepreneurs. They also aim to help agricultural producers and small businesses identify ways to export their products worldwide.
The partnership will further extend to enhancing collaboration between the SBA’s Resource Partners Network and USDA’s Rural Partners Network. Additionally, programs supporting rural businesses and socially disadvantaged communities will be cross-promoted.
“Rural small businesses strengthen local economies – creating jobs and serving communities,” said Administrator Guzman. “The SBA’s partnership with USDA will build upon the Biden-Harris Administration’s commitment to investing in underserved rural Americans.”
This move marks a significant step forward in the government’s efforts to support and uplift the rural economy and its contributors. For more information, see the MOU.
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