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## Increase in Small Business Applications under Biden-Harris Administration

New small business applications have surged to over 17 million under the Biden-Harris Administration, marking a significant increase. This unprecedented growth is a promising sign for economic growth and job creation.

Pennsylvania alone has seen 1.3 million new business applications since the start of the Biden Administration, reflecting a positive trend in entrepreneurship within the state.

## Positive Impact on Economy and Job Market

SBA Mid-Atlantic Regional Administrator John Fleming expressed optimism about the rise in small business applications, highlighting the potential benefits for job creation and improved standards of living. This increase is seen as a precursor to further economic growth.

The monthly average of 440,000 new business applications since Biden took office is 45 percent higher than the previous administration. Additionally, the annual growth of new business applications is an impressive 90% higher than pre-pandemic levels, indicating a strong entrepreneurial spirit, especially among women, Latinos, and Black Americans.

## Role of AI legalese decoder

The AI legalese decoder can assist small business owners in navigating the complex legal language associated with starting and operating a business. By using advanced artificial intelligence technology, the Decoder can simplify legal documents, contracts, and agreements, making them more accessible and understandable. This tool can help entrepreneurs make informed decisions and comply with legal requirements more effectively.

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