OPINION:
Small businesses are more than just an economic engine in America; they embody our nation’s entrepreneurial spirit, ingenuity and resilience.
As a U.S. senator, former Tennessee commissioner of economic development and lifelong businessman, I know that small businesses are the heartbeat of our economy — fueling job creation, innovation and support for their community. Unfortunately, they need more than just good ideas to succeed. They need leaders who understand their challenges and know how to cut through the bureaucratic red tape in Washington that stifles opportunity.
That is why Kelly Loeffler is the right choice to lead the Small Business Administration.
Kelly’s career is a testament to the American dream. From her humble beginnings on the family farm, Kelly became a Fortune 500 executive, startup founder and job creator. In 2002, she joined Intercontinental Exchange, or ICE, then a small startup with under 100 employees.
As an ICE executive team member, she played a pivotal role in transforming the company into a global powerhouse. She contributed to the New York Stock Exchange acquisition and led ICE through a successful IPO on the exchange eight years earlier. What started as a small business grew into a Fortune 500 company employing over 15,000 people — an inspiring example of what small businesses can achieve with strong leaders and the right environment.
Kelly’s experience doesn’t end there. She became the founding CEO of Bakkt, where she launched a financial technology company that applied her experience in traditional markets to begin work in the crypto markets, which later became a publicly traded entity. Her ability to navigate complex regulatory complexity, secure capital and scale operations sets her apart. She understands entrepreneurs’ challenges because she has faced them — and overcome them — herself.
Under the Biden administration, the SBA has faltered. Mismanagement, inefficiency and politicization have undermined its mission. Instead of empowering small businesses, the agency has become mired in bureaucracy and waste. While tax dollars are squandered on poorly executed programs, entrepreneurs everywhere are left to navigate the maze of confusing and often contradictory regulations. Unresponsive bureaucrats mired in their “work from home” mentality and, critically, a lack of vision to support America’s entrepreneurial vision.
Enter President-elect Donald Trump. He has promised to build the greatest economy in history, and he keeps his promises. It’s critical that he has a leader at the SBA who can bring accountability, discipline and results. Her name is Kelly Loeffler.
At a time when small-business optimism has climbed above a 50-year average, Mr. Trump has capitalized on this record confidence by selecting a proven entrepreneur who steadfastly supports the president-elect’s goal of a thriving economy in America and has the experience to deliver.
Kelly’s vision for the SBA is clear: eliminate waste, deliver taxpayer accountability and focus on what matters most — empowering small businesses. She understands that small-business owners need access to capital, a clear and fair regulatory framework and a government entity that works with them, not against them.
As SBA administrator, Kelly will cut through red tape, streamline processes, and spend taxpayer dollars wisely. She’ll prioritize initiatives that foster growth and innovation, helping small businesses scale and thrive.
Like Mr. Trump, a fellow business leader and political outsider, Kelly shares a strong commitment to the economic opportunity and prosperity of the America First agenda. She’s a champion of free enterprise and understands the importance of reducing barriers to entry for aspiring entrepreneurs. Whether it’s a family-run restaurant in Georgia or a tech startup in Silicon Valley, Kelly will build a team that supports an environment where businesses of all sizes can succeed and thrive in America.
Kelly Loeffler’s nomination is more than a smart choice; it’s necessary. At a time when small businesses are struggling to recover from economic uncertainty, we need a leader who can restore confidence and unleash potential. Kelly’s experience, vision and unwavering commitment to free enterprise uniquely qualify her to lead the SBA into a new era of growth and opportunity.
I urge my colleagues to stand with Mr. Trump’s nominee and support Kelly Loeffler. Together, we can ensure that the SBA fulfills its mission and that America’s small businesses have the tools to succeed — uplifting families, communities and workers across the country. With Kelly at the helm, the future is bright for entrepreneurs across America.
• Bill Hagerty has served as the junior U.S. senator from Tennessee since 2021.
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