Presidential Documents

Federal Register / Vol. 89, No. 214 / Tuesday, November 5, 2024 / Presidential Documents 87771 

Proclamation 10850 of October 31, 2024 

National Entrepreneurship Month, 2024 

By the President of the United States of America 

A Proclamation 

Entrepreneurs embody the essence of America—their ideas and energy have 

always kept our country on the cutting edge, and their determination and 

drive uplift communities, create millions of jobs, and keep our Nation moving 

forward. This month, we celebrate their unstoppable spirit. 

Supporting entrepreneurs, especially small business owners, has always been 

key in growing our economy from the middle out and bottom up, giving 

everyone a fair shot to get ahead. Many entrepreneurs are at the heart 

and soul of their communities, running the mom-and-pop shops that are 

the glue of our neighborhoods. But when Vice President Harris and I took 

office, hundreds of thousands of small businesses had been forced to close 

down due to the pandemic, and millions more were hanging by a thread. 

Not only were entrepreneurs’ livelihoods on the line but also their life’s 

savings and hopes of growing wealth for the next generation. 

That is why Vice President Harris and I were committed to investing in 

America’s entrepreneurs and innovators. My American Rescue Plan provided 

billions of dollars in capital and support to small businesses. My CHIPS 

and Science Act is investing more into research and manufacturing than 

ever before, building the high-tech industries of the future and the smallbusiness supply chains to support them right here at home while helping 

them expand their businesses in high-growth, high-wage industries. And 

my Inflation Reduction Act is incentivizing manufacturers to help tackle 

the climate crisis using American suppliers while cutting down on entrepreneurs’ overhead costs like health insurance and energy bills. 

The Biden-Harris Administration is also committed to ensuring every small 

business and entrepreneur has a fair shot. This year, the Small Business 

Administration (SBA) provided a record $56 billion through more than 

100,000 small business financings—the most in more than 15 years and 

a 50 percent increase over 2020. The Federal Government has invested 

tens of billions of dollars into small disadvantaged businesses. The SBA 

is lending tens of billions of dollars to small businesses that would otherwise 

struggle to access capital. Since 2020, the number of SBA-backed loans 

doubled for women-owned businesses, tripled for Black-owned businesses, 

more than doubled for Latino-owned businesses, and increased by about 

70 percent for Asian American-owned businesses. And my Bipartisan Infrastructure Law also made the Minority Business Development Agency permanent to help close the gap for these and other entrepreneurs from underserved 

and underrepresented communities too long left behind. 

Today, entrepreneurs across the country have filed nearly 20 million new 

business applications since Vice President Harris and I took office—each 

an act of hope and confidence in our economy. A record number of those 

businesses are being opened by Black, Latino, and women entrepreneurs. 

And 16 million new jobs have been created. 

I have often said that America can be defined in one word: possibilities. 

That is what entrepreneurship is all about. During National Entrepreneurship 

Month, we honor every entrepreneur with a vision for something better 


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87772 Federal Register / Vol. 89, No. 214 / Tuesday, November 5, 2024 / Presidential Documents 

and the grit to make it real, growing our economy and creating new possibilities for everyone. 

NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of the United States 

of America, by virtue of the authority vested in me by the Constitution 

and the laws of the United States, do hereby proclaim November 2024 

as National Entrepreneurship Month. I call upon all Americans to commemorate this month with appropriate programs and activities and to celebrate 

November 19, 2024, as National Entrepreneurs’ Day. 

IN WITNESS WHEREOF, I have hereunto set my hand this thirty-first day 

of October, in the year of our Lord two thousand twenty-four, and of the 

Independence of the United States of America the two hundred and fortyninth. 

[FR Doc. 2024–25805 

Filed 11–4–24; 8:45 am] 

Billing code 3395–F4–P 


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