A Census release gave the Small Business Administration a headline it could celebrate—but not a full explanation of what was driving new business formation. On January 18, 2023, the SBA said Census data showed 2022 applications continued at a rapid pace, second only to the 2021 record. Administrator Isabella Casillas Guzman also cited 10.5 million applications since the administration began, describing it as the highest total for any two-year period in U.S. history. [story-s1]
That is a statement about application volume, not a count of businesses that ultimately opened, survived, hired, or generated revenue. The SBA release does not provide the underlying Census series or define the conversion from applications to operating firms. Its figures are best read as an early-formation signal—not proof that every application became a durable small business. [story-s1]
The distinction matters for operators and policymakers. Application totals can show where entrepreneurial intent is rising, while financing, technical assistance, and access to customers determine whether that intent turns into operating capacity. Guzman pointed to SBA efforts to expand capital access, training and technical assistance, and revenue opportunities tied to infrastructure investment. Those are the administration’s stated responses; the release does not measure their impact on application growth or business outcomes. [story-s1]
Source documents
- SBA Administrator Guzman: New Census Data Shows Record Pace of Small Business Applications Has Continued Under Biden-Harris Administrationhttps://www.sba.gov/article/2023/jan/18/sba-administrator-guzman-new-census-data-shows-record-pace-small-business-applications-has-continued