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Startups and “high-growth” small businesses are responsible for the lion’s share of net new job creation in the U.S. each year. That’s a key reason that we launched an Administration-wide effort called Startup America earlier this year. As a critical part of that, SBA made a commitment to invest up to $1 billion in underserved communities and emerging sectors over the next 5 years. Today, we were delighted to announce the first public-private partnership of this Impact Investment Fund. This first effort will...
by NOsburn, Former Moderator on Monday, July 18, 2011 - 09:20
When a friend or family member asks what you do to help small businesses, what do you say? I tell them that we enable small businesses success, whether that business is a start-up or an existing business. When they say “How?”, I tell them about our three Cs – Capital, Counseling and Contracting. As a Deputy District Director [for the SBA in Oklahoma], I am exposed to a broad range of SBA activities, so I actually get this question pretty often. I never tire of talking about business – especially sales...
by NOsburn, Former Moderator on Thursday, July 14, 2011 - 17:00
President Barack Obama’s first-ever Twitter Town Hall at the White House sparked some great questions about small business. To keep the conversation going, we launched Your #smallbiz Twitter Town Hall Questions blog series last week. This week, we’re answering your questions about business opportunities for young entrepreneurs and green business. @ymbinc– #AskObama JOBS-Can your administration setup SBA loans for college students with business ideas to create JOBS & how could they get it? As...
by NOsburn, Former Moderator on Thursday, July 14, 2011 - 13:59
When a friend or family member asks what you do to help small businesses, what do you say? I’m the Correspondence Liaison for SBA’s Office of Capital Access. That means I work closely with our people at SBA who work with Congress and the White House to help small business owners with everything from what resources are out there to help people start a business… to researching specific issues they may be having with their SBA loan… and more. What’s your favorite thing about what the SBA does for small...
by Karen Mills, SBA Administrator on Tuesday, July 12, 2011 - 09:14
This week, Health and Human Services Secretary Kathleen Sebelius announced a major step forward in helping small businesses benefit from more “competition, choice, and clout” when they shop for health insurance coverage for their employees. As part of the new health care law that the President signed, the new “exchanges” will make it easier for small business owners to shop around for an affordable plan that meets their needs. With today’s announcement, each U.S. state now has guidance on how to set up...
by danielc, Former Moderator on Friday, July 8, 2011 - 15:15
Earlier this week, President Barack Obama answered a series of questions on jobs and the economy at the first-ever Twitter Town Hall at the White House. At the Small Business Administration, we were following along and reading all the great questions about small business. To keep the conversation going, we’re starting a new blog series where we respond to some of the questions that weren’t answered during the Town Hall. First up, we’re answering your questions about various government loan programs and access to capital...
by NOsburn, Former Moderator on Wednesday, June 29, 2011 - 12:52
Here’s a great video recap of what happened at National Small Business Week in Washington, D.C., last month. We had a great lineup of speakers from companies like Google, HonestTea, and YouTube. And, of course, we had small business owners from every state who told us their success stories. It was a great week, and we hope you’ll join us next year!
by Joe Jordan, Former SBA Official on Friday, June 24, 2011 - 13:03
Today we released the federal government’s “Scorecard” on small business contracting for Fiscal Year 2010. As you might know, contracting is one of our 3 Cs of the SBA. It’s important because revenue from federal contracts and subcontracts helps small firms grow their business and create jobs. In FY2010, nearly $100 billion in contracts went to small businesses. That’s 22.7% of all federal contracting dollars, just shy of the government’s goal of 23%. Combined with last year’s...
by Karen Mills, SBA Administrator on Thursday, June 16, 2011 - 09:57
Supporting growth and innovation in manufacturing is critical to helping America out-compete the rest of the world and create 21st-century jobs. On Monday, I was at DuPont in North Carolina holding a roundtable with manufacturers as part of the President’s meeting with the Council on Jobs and Competitiveness. I talked to a small business that designed a safer tool for doctors to use in surgery, and they hope to start hiring and manufacturing soon. In addition, I’ve talked to many more small manufacturers in recent weeks, from...
by Marie Johns, SBA Deputy Administrator on Wednesday, June 15, 2011 - 17:57
Last week, I joined Secretary of Agriculture Tom Vilsack and other members of the Obama administration for the first meeting of the White House Rural Council. The goal of the council is to advance policies that promote economic prosperity in rural America. I know the SBA will play an important role in this endeavor. Small businesses are part of the fabric of rural communities. They line Main Streets in small towns, and they are crucial job creators in rural economies. SBA is committed to helping these small businesses get the tools they need...
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by Karen Mills, SBA Administrator on Tuesday, July 26, 2011 - 12:55