The Main Street Competes Act amends the Small Business Economic Policy Act of 1980 to strengthen the connection between federal antitrust enforcement and small business competitiveness. The bill updates the law's stated policy goals to explicitly include promoting competitive markets and business ownership by enforcing antitrust laws against anticompetitive conduct that harms small businesses. It requires the Department of Justice and Federal Trade Commission to submit annual reports, starting within 180 days after the end of fiscal year 2023, detailing their antitrust enforcement activities, including complaint numbers, investigations, and enforcement actions related to small businesses. The Small Business Administration's Chief Counsel for Advocacy must then analyze this data and report findings and recommendations to relevant congressional committees within 180 days of receiving the agency reports. The legislation primarily affects small business owners, federal antitrust enforcers, and policymakers by creating a formal, recurring mechanism to track and address antitrust issues affecting small enterprises.