Washington, D.C. — May 4, 2026
President Donald J. Trump today participated in a high-profile Small Business Summit in the White House East Room, gathering more than 130 small business owners from across the United States to mark the start of National Small Business Week (May 4–11). The event served as a platform to recognize the 2026 National Small Business Week award winners and underscore the administration’s signature policies credited with fueling a broad-based “Main Street revival.”
In remarks delivered this afternoon, the president spotlighted the transformative impact of the Working Families Tax Cuts Act — signed into law on July 4, 2025 — which has delivered permanent tax relief and regulatory certainty to the nation’s 36 million small businesses, described by the White House as “the true engine of job creation, innovation, and community prosperity.”
Key provisions highlighted include the permanent extension of the 20 percent small business deduction (formerly Section 199A), allowing pass-through entities and entrepreneurs to deduct up to 20 percent of qualified business income. The law also restored and expanded full (100 percent) immediate expensing for investments in equipment, factory construction, machinery, and domestic research and development (R&D), providing businesses with critical upfront cash-flow relief and incentives to expand operations.
Administration officials noted that these measures, combined with broader deregulation efforts, have already produced measurable results. Nearly 12 million small business owners have seen average tax reductions of roughly $7,000, with the permanent 20 percent deduction alone delivering about $4,600 in annual relief to 8 million entrepreneurs. The Deregulation Strike Force eliminated more than $110 billion in compliance costs in its first year, while the Small Business Administration (SBA) delivered record capital — guaranteeing $45 billion in 7(a) and 504 loans to over 85,000 businesses in FY25.
SBA Administrator Kelly Loeffler, who joined the president at the summit, praised the momentum: “We are a nation of builders again thanks to President Trump’s historic wins for Main Street, and I’m honored to mark National Small Business Week alongside him and the job creators who fuel our local communities — particularly as America celebrates 250 years of freedom and free enterprise. … Our nation’s 36 million small businesses now have the confidence to hire, reinvest and expand, unleashing an historic era of sustained growth. America is open for business again.”
The East Room gathering brought together owners representing a cross-section of American enterprise, including manufacturing, food production, defense, energy, retail, and other sectors. Attendees heard directly from the president about additional America First initiatives: expanded Opportunity Zones to channel capital into underserved communities, a new dedicated loan program for small manufacturers, the “Make Onshoring Great Again Portal” for domestic supply-chain sourcing, suspension of burdensome Beneficial Ownership Information (BOI) reporting requirements (saving billions in paperwork), and the termination of the Obama-era Joint Employer Rule to protect franchise owners.
The summit aligns with the official presidential message on National Small Business Week, issued Sunday, which emphasized the role of small businesses in powering the U.S. workforce (employing more than 45 percent of American workers) and advancing the American Dream. “Every day, my Administration is delivering incredible victories for America’s small businesses,” the message stated, referencing the “One Big Beautiful Bill” (the Working Families Tax Cuts Act) and ongoing efforts to slash red tape so owners can “focus on their craft rather than being burdened with endless paperwork.”
The 2026 award winners — selected by the SBA and recognized nationally during a May 3 ceremony in Washington, D.C. — include honorees in categories such as Small Business Person of the Year, Exporter of the Year, Small Business Manufacturer of the Year, Rural Small Business of the Year, Blue-Collar Small Business of the Year, and the Phoenix Award for Small Business Disaster Recovery, among others. Today’s summit provided a high-visibility stage to celebrate their achievements amid the week-long observance.
The event comes as small business optimism has rebounded under the current policy framework, with owners citing greater certainty for long-term planning, hiring, and capital investment. The administration has positioned these gains as central to a broader economic renaissance tied to America’s semiquincentennial (250th anniversary) celebrations.
National Small Business Week continues through May 11 with virtual training sessions, resources, and further recognitions hosted by the SBA. The White House has framed the week as both a celebration of entrepreneurial spirit and a reaffirmation of policies designed to keep America “open for business.”
JbizNews will continue to monitor developments from the summit and provide ongoing coverage of small business policy impacts throughout the week.
