Press Releases
U.S. SBA ADMINISTRATOR, REP. PHILLIPS ON EMPLOYEE OWNERSHIPAfter hearing from Minnesota small business owners last week, Administrator Guzman and Rep. Phillips return to Washington, vow to support small businesses seeking to become employee-owned
Washington,
March 23, 2023
WASHINGTON, D.C. - Today, House Small Business Committee Vice Ranking Member Dean Phillips (MN-03) helped lead lawmakers in questioning U.S. Small Business Administrator Isabella Casillas Guzman. Phillips, whose great-grandfather introduced one of the first documented employee profit sharing plans in America in the 1940’s, is a longtime advocate for employee ownership and sharing success with the people and communities who help create it. WATCH: PHILLIPS AND GUZMAN TALK EMPLOYEE OWNERSHIP IN TODAY'S SMALL BUSINESS HEARING At Phillips’s invitation, Administrator Guzman visited Minnesota last week to learn more about Phillips’s years-long effort to support small businesses seeking to share success through employee ownership. The two small business leaders worked a shift together as part of Phillips’s popular “On the Job with Dean” series before facilitating a roundtable discussion about the barriers small business owners face as they transition to employee-owned status. During that conversation, and again in today’s House Small Business Committee Hearing, Phillips and Guzman reiterated their commitment to increase incentives and remove hurdles that make it difficult for small business owners to choose employee ownership.
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