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This year marks the 50th anniversary of National Small Business Week. Although things have certainly changed since President Kennedy signed the first Presidential Proclamation in 1963, one thing that hasn’t changed is America’s entrepreneurial spirit and the important role that small business owners play in our economy and our communities. This week, President Obama has continued America’s tradition of honoring the spirit and success of American small business owners by proclaiming June 17 - 21 to be 2013’s...
SBA is gearing up for National Small Business Week, June 17-21. This year we are taking the show on the road offering educational panels and workshops on topics like how to start business, social media 101, how to protect your business against cyber security threats, how to start exporting, just to name a few. The week will kick off in Seattle on June 17, followed by events in Dallas, St. Louis and Pittsburgh. We’ll end the week in Washington, DC were we will honor small businesses from across the United States and...
National Small Business Week, June 17-21, will feature dozens of successful small businesses from across the country, including entrepreneurs who started their business after age 50. This year marks 50 years of National Small Business Week, and is fitting to highlight the thriving small business owners over the age of 50 who help drive the economy and create jobs. The businesses range from a baker of Artisan breads to a helicopter pilot school, and from a maker of skincare and cosmetic products to an aerospace design firm. The U.S. Small...
All across the country today there are promising startups looking to scale their businesses and to bring innovative, game changing ideas to market. The ability of these businesses to access long-term, patient capital is critical to their success and to the growth of the American economy. However, today only six percent of venture capital is going to early stage rounds of between $1 and $4 million, creating a Valley of Death for many new businesses. Compounding this lack of early stage capital is the fact that 70 percent of venture capital goes...
As we mark the end of Asian-American Pacific Islander (AAPI) Heritage Month this May, the U.S. Small Business Administration (SBA) recognizes how important the success of America’s 1.5 million AAPI- owned businesses is to the strength of our economy. With more than 2.8 million workers, these firms are fueling job creation and strengthening our communities at a critical time in our economic recovery – and SBA is here to help them grow and succeed. Four years ago, America’s small businesses and entrepreneurs were...
Even before the big storm hits, small businesses start losing money once the severe weather advisories go out. The cost of shutting down, even for a few hours, is a huge expense most small businesses aren’t prepared to cover. Hurricane Sandy caught most people off guard. The late-season storm brought flooding and power outages that caused billions in losses. The SBA approved more than 3,600 disaster loans for $393 million to businesses affected by Sandy. When you add the home disaster loans made by SBA, more than 35,400 loans were...
SBA recently hosted a Google+ Hangout to honor World Trade Month. The panel of guests talked about common “rookie mistakes” and listed many resources that can help small businesses get started exporting. You can watch the Hangout below. If you have any questions about exporting, you can tweet them using the hashtag #TradeChat. Resources www.business.usa.gov www.sba.gov/exporting www.export.gov www.trade.gov/advocacy www.exim.gov www.ups.com/content/us/en/bussol/browse/international-trade-guidance.html www.ups.com/...
Are you a veteran transitioning from active service and want to become an entrepreneur? Or perhaps you’ve been out of the service for some time and want to start a new small business or expand an existing one? If that’s you or someone you know, the U.S. Small Business Administration (SBA) has announced the SBA Veteran Pledge Initiative, a new commitment by its top national regional and community lenders to collectively increase their lending activity to veterans by five percent per year for the next five years. This initiative...
Did you know that the world’s population already surpasses 7 billion? Did you know that more than 95 percent of the world’s consumers live outside the United States? U.S. exports of goods and services accounted for 14 percent of the national GDP in 2008 and climbed to 14 percent in 2012. These numbers show the growing role exports are playing in our nation’s economic recovery. The surprising fact about these numbers is that only less than one percent of the 30 million plus companies in the U.S. are engaged in exporting. Can...
NOTE: This blog is by Pravina Raghavan, Director, Innovation and Technology at SBA. Today, I was pleased to join Roland Tibbetts, the father of the SBIR program, our SBA Administrator Karen Mills and Senator Mary Landrieu, Chair of the Senate Small Business and Entrepreneurship Committee, in recognizing eighteen small businesses and three individuals for the critical role they play in research and development and commend their success in driving innovation and creating new jobs. In addition, three past participants in SBIR who represent...
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by Karen Mills, SBA Administrator on Friday, June 14, 2013 - 22:13