Fact-Check: Biden Says Americans Are Starting Small Businesses at 'Record Rate'

Fact-Check: Biden Says Americans Are Starting Small Businesses at 'Record Rate'


Claim: Joe Biden says his presidency has seen record small business creation.

“I’m proud to say if you look at my presidency so far, it’s a jobs presidency, and it’s a small business presidency,” Biden said on Monday. “Here’s what the record shows. Record job creation. Record economic growth. Record new small business creation. That’s the story that should give us confidence about the economy that we’re building. Confidence in ourself. Confidence in the future.”

“Our economy is creating new businesses — lots of new businesses. In fact, Americans are starting small businesses at a record rate — up 30 percent compared to before the pandemic,” Biden added.

Verdict: Lacks context.

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The highest monthly number of business formations was in July of 2020,

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