The Small Business Administration's Lesbian, Gay and Transgender (LGBT) Awareness page is back on track. A letter written to SBA Administrator Linda McMahon by Nydia M. Velázquez (D-New York), a member of the House Committee on Small Business, and Yvette D. Clarke (D-New York) makes things happen.
Return of LGBTQ Resources SBA
LGBT community businesses contribute $ 1.1 billion to the US economy. Providing them with the vast resources of the SBA is critical to their long-term success as small business owners across the country.
Representatives responded to the reinstatement of the webpage by saying, "We are pleased that Administrator McMahon has taken our concerns seriously and restored these resources. It is important that all federal organizations be inclusive and work proactively to meet the needs of all Americans. "
Companies belonging to the SBA and LGBT
The LGBT Outreach page says that she is proud to support LGBT businesses through inclusion and outreach in order to economically empower entrepreneurs in this community.
The administration says that LGBT businesses can access SBA programs and services by finding their local offices to see if they can qualify for the 8 (a) Business Development Program. It is a program that awards at least five per cent of contract dollars annually to small, disadvantaged businesses.
On the Outreach page, the SBA says it's "doing outreach to be more inclusive of LGBT business owners, and our staff welcomes and recognizes the importance of a business." greater inclusion at all levels and in all communities. "
The success of LGBT businesses
In the letter to McMahon, representatives also pointed out that although many start-up companies close before the fourth year, the average LGBT business has been operating for at least 12 years. As a result, these companies are crucial and stable parts of their local economies.
By supporting these companies, the SBA encourages their growth, which translates into the hiring of more people in the communities where they operate.