In a significant move to bolster the growth of Puerto Rican small businesses, SBA Administrator Isabel Casillas Guzman visited Puerto Rico to engage in a series of events aimed at enhancing entrepreneurship and economic resilience. Guzman’s visit underscored the Biden Administration’s commitment to fostering small business growth, with a particular focus on Latino entrepreneurship and disaster preparedness.
During her visit, Guzman participated in the Global Entrepreneurship Conference, discussing the SBA’s efforts to promote Latino small business ownership. A strategic alliance memorandum was signed with Hecho en Puerto Rico, aimed at strengthening the export capabilities of Puerto Rican businesses and promoting sustainable economic growth.
The agreement between the SBA and the Hecho en Puerto Rico Association (AHPR) marks a milestone in supporting small and medium-sized businesses on the island. This collaboration will provide entrepreneurs with access to vital resources, programs, and training opportunities designed to facilitate their expansion into international markets. Mateo Cidre, President of AHPR, emphasized the importance of this partnership in boosting the competitiveness of Puerto Rican products globally.
Administrator Guzman highlighted the SBA’s role in providing grant funds to support Puerto Rican exports, stressing that this effort is crucial for the island’s economic growth and America’s global competitiveness. The alliance is expected to enhance job creation and economic stability in Puerto Rico.
In addition to the strategic alliance, Guzman’s itinerary included visits to local businesses like Condado Window and discussions on funding opportunities to improve productivity and lower energy costs under President Biden’s Investing in America agenda. She also met with women entrepreneurs, emphasizing the growth of women-owned businesses in Puerto Rico.
Guzman’s keynote speech at the Third Disaster Business Resilience Forum highlighted the SBA’s resources for disaster preparedness and recovery. She concluded her visit by participating in the GEN Startup Nations Ministerial, bringing together officials from Latin America and the Caribbean to discuss innovation and entrepreneurship.
Overall, the visit reinforced the SBA’s dedication to supporting Puerto Rican small businesses, promoting exports, and driving sustainable economic growth in the region.
