October 21, 2020

Udall Bill to Boost Small Business Development, Create Jobs in Indian Country Signed into Law

WASHINGTON—Today, U.S. Senator Tom Udall (D-N.M.), vice chairman of the Senate Committee on Indian Affairs, released the following statement after the president signed his Native American Business Incubators Act into law. The legislation will help support creation of Native American-owned small business. U.S. Representative Deb Haaland (D-N.M.) introduced companion legislation in the House of Representatives.

“Small businesses form the backbone of strong economies and communities. But for too long, Native American entrepreneurs have faced unique barriers in accessing capital and resources for their small businesses. The enactment of the Native American Business Incubators act is a win for Indian Country, and will support Native American-owned businesses in navigating through obstacles and red tape.

“Especially now, as Native communities continue to grapple with the terrible health and economic impacts of COVID-19, Indian Country’s need for the economic drivers in this legislation is more pressing than ever. This bill will fill critical gaps for Native entrepreneurs, bolster Native-owned businesses, and help jumpstart Tribal economies. 

“While getting the Native American Business Incubators Act signed into law gives us reason to celebrate, it cannot erase the fact that we still have more work to do to ensure Tribal communities and economies have the support they need to recover and thrive. We must continue work toward comprehensive COVID-19 relief in Congress and make sure we are living up to our trust and treaty responsibilities to Tribes.”

More information on the legislation is available HERE. A one-page summary of the bill can be found HERE.