Secretary of the Treasury Janet L. Yellen participated in a virtual discussion with small business owners to discuss the unprecedented public health and economic crises that have left millions of Americans struggling to get by. Secretary Yellen also discussed strategies to support American small businesses in urban and rural areas alike.
Secretary Yellen listened to the individual stories and painful concerns of these leaders. She highlighted President Biden’s American Rescue plan and how it will help millions of people, including small business owners, make it to the other side of this pandemic. Secretary Yellen also emphasized how investing in institutions like Community Development Financial Institutions and Minority Depository Institutions can help small businesses left behind during this crisis — and traditionally excluded from access to capital — get the resources they need.
Secretary Yellen reiterated that the price of doing nothing in response to public health crisis and resulting economic one is much higher than the price of doing something, and that the benefits of acting now – and acting big – will far outweigh the costs over the long term.
The Secretary was joined by seven small business owners representing a diverse group of industries, demographics and regions of the country:
- Pilar Guzmán Zavala, Owner and CEO, Half Moon Empanadas; Miami, Florida
- Samir Idnani, Co-Owner, NaanStop; Atlanta, Georgia
- Shayai Lucero, Owner, Earth and Sky Floral Designs and Gallery; Old Laguna, New Mexico
- Christian Medrano, Owner, Brew Brew Coffee & Tea; Chicago, Illinois
- Claudia Mendoza, Owner, I. Q. Constructions, Inc.; Delray Beach, Florida
- Shaundell Newsome, Visionary & Founder, Sumnu Marketing and Chairman of the Board, Urban Chamber of Commerce; Las Vegas, Nevada
- Anne Zimmerman, CPA and Founder & Owner, Zimmerman & Co CPAs Inc., and Treasurer, Anderson Area Chamber of Commerce; Cincinnati, Ohio