The White House28 min
Vice President JD Vance Delivers Remarks at a National Veterans Small Business Week Kickoff
Conference Presentation, Fireside Chat, Statement
- J.D. Vance, the 50th Vice President of the United States, opened National Veterans Small Business Week, honoring veteran-owned and American-made enterprises.
- Vance highlighted his own background as a veteran who graduated high school 23 years ago, enlisted in the Marine Corps, rose to corporal, and later became an entrepreneur.
- The event was hosted in partnership with the Small Business Administration (SBA) and JPMorgan Chase, with specific credit given to SBA Administrator Kelly for her leadership in supporting veteran businesses.
- Vance addressed recent speculation and infighting surrounding the Ohio State Buckeyes football team, specifically referencing the quarterback position, to illustrate a point about resilience and leadership before pivoting to policy.
- Under SBA Administrator Kelly's leadership, approximately $1.3 billion has been allocated to veteran-backed small businesses.
- The administration is prioritizing fraud prevention in the SBA loan system, noting a massive increase in fraud post-COVID that diverted funds from legitimate small businesses to fraudsters.
- New enforcement measures aim to ensure that SBA loan applicants are genuinely entitled to funding, thereby increasing available capital for legitimate job creation and business expansion.
- Vance emphasized the critical role of small businesses in the national security industrial supply chain, citing the 1,200 small businesses that support the production of sidearms for troops.
- The speech outlined a strategic shift away from reliance on foreign supply chains (specifically Mexico and China) following lessons learned during the pandemic, advocating for domestic industrial resilience.
- The Trump administration committed to funding hundreds of millions of dollars this year, with projections for billions in additional support over the next few years for veteran-owned small businesses.
- Vance noted that small businesses are the primary net contributors to job growth in the United States, contrasting them with large corporations which tend to be net neutral regarding employment fluctuations.
- The Vice President requested direct feedback from business owners and congressional leaders on how the government can better support these enterprises to foster hiring, innovation, and expansion.
- The event took place on a stage connecting economic growth with national security, asserting that the backbone of the American economy lies in the resilience and expertise of the nation's veterans.