For those interested in starting a business, the Small Business Administration (SBA), can be an important resource. The SBA is well known as a source for small business loans, but they offer much more. The organization is an outstanding government agency with resources geared specifically to help small business owners start up and stay in business. And even better news is that many of those resources are free of charge.
First founded in 1953, the SBA is an independent agency that provides counsel, aid, and assistance, designed to protect small business interests. Other focuses of the SBA include preserving and maintaining free competitive enterprise, as well as well as strengthening the nation’s economy. Small businesses are a vital part of this country’s existence, providing products and services to consumers while providing income to employees of the company.
Over the years, the SBA has grown and established a system for building the future of this country. Throughout their existence, the mission has remained the same – assisting the American people in starting, building, and growing businesses of various industries. In addition to providing needed services to the United States, this government agency also aids businesses in the U.S. Virgin Islands, Puerto Rico, and Guam.
The services and programs offered by the SBA include contracting opportunities, loans, training programs, and even aid in the event of disaster. Although not all offers provided by the SBA are listed in this article, we have listed some of the key benefits associated with the services offered.
Financial Aid and Planning
Many small businesses fail within the first five years. This failure is often due to under capitalization and poor management. To create and build a small business, you need ready capital, coupled with the right knowledge and planning. SBA can help by calculating finances needed for the business, as well as strategies for proper management. They offer free assistance from business experts. These experts will review your business plan and provide advice on improving and strengthening your plan. You can also utilize their resources to develop your plan.
The SBA also has a special division called the Office of Disaster Assistance, which has the responsibility of providing financial assistance to homeowners and businesses in an affordable, accessible, and timely manner. The major benefit is the long-term, low interest loans. If your company were to experience disaster, the SBA would step up to provide assistance for repairing and/or rebuilding.
In addition to the two programs mentioned, keep in mind that it has a variety of solutions specific to small business owners. For instance, you could take advantage of online training from the SBA, which includes a number of free online courses. Counseling and assistance is also provided by the SBA, offering help through Small Business Development Centers, Women’s Business Centers, and a number of national training events.
Finally, the SBA is known for reaching out to audiences that many other organizations or agencies would not touch. It has special programs, tools, and resources specifically available to veterans, women, Native American Indians, and young entrepreneurs. Remember, the focus of this agency is to make it possible for anyone to become a successful business owner in the United States. Over the years, the SBA has proven a highly successful entity.