For the seventh consecutive year, SBA is looking for small businesses to partake in our highly successful Emerging Leaders executive-level training initiative that provides the tools they need to sustain and grow their businesses. The Emerging Leaders initiative is an intensive training program for small companies that have the potential for quick growth and job creation. This seven-month executive educational series includes classroom time and provides the opportunity for small business owners to work with experienced mentors, and develop...
When I was younger, my mother started a side business selling household goods, like figurines, pictures and other small items. I’d help out occasionally, accompanying her to purchase merchandise, sell items and track revenue. She started this business as a way to gain financial independence and supplement her income. While my mother had aspirations of growing her business, she was unable to do so. Lack of funding, little understanding of how to grow a business and no mentor to help guide her along the way all proved to be...
In order for small businesses to remain viable in a recovering economy, access to capital must remain an SBA priority. At the same time, applying for and getting a commercial loan involves certain costs that may make borrowers think twice before making that commitment. Often times, small businesses that need loans with smaller dollar amounts --$350,000 and under- are usually either just starting or in their early stages. Attention to the bottom line is paramount at this critical time, and a lack of adequate financial resources may become...
Editor's Note: This blog first appeared at Commerce.gov on February 7. BusinessUSA was named as one of six winners yesterday for the 2014 Igniting Innovation Award, which recognizes government and industry individuals and teams who bring innovative thinking through their IT products, services, systems and solutions that benefit federal government and citizens. Managed by the U.S. Department of Commerce and the Small Business Administration (SBA), BusinessUSA is the federal government’s official assistance resource for...
Fiscal year 2013—the period between October 1, 2012 and September 30, 2013—was one of the busiest in recent memory for SBA’s disaster assistance program. SBA approved a total of 46,817 disaster loans for $2.8 billion during FY 2013. The majority of those loans were made to homeowners and renters recovering from the devastation caused by Hurricane Sandy, which hit the Atlantic coast on October 29, 2012—nearly a month after the beginning of the new fiscal year. Here are some interesting stats: For...
The U.S. Small Business Administration is hosting a Twitter Chat for young entrepreneurs in recognition of National Entrepreneurship Week (February 15-22) to learn how to turn their business idea into a reality, the steps to starting a business, and the know-how needed to help their businesses succeed. If you’re already a young entrepreneur or want to become one, this chat is for you. In fact, the chat is open to anyone considering starting a business, and to everyone who can bring their best tweeting talents. Details: SBA Twitter Chat...
SBA’s Office of Native American Affairs will take another step to expand outreach to American Indian communities and American Indian owned businesses when we join the United South and Eastern Tribes, Inc. (USET) on Feb. 4, 2014, to sign a Strategic Alliance Memorandum (SAM). Together, SBA and USET will work to boost entrepreneurship opportunities for Tribes and small businesses among USET’s twenty-six member tribes from Maine, to Florida, to Texas. SBA and USET share a common mission by enhancing the economic development of Indian...
Editor's note: This was originally posted on Yelp's blog. Sharing what you dig and what you don’t is nothing new, but today this consumer word-of-mouth happens at lightning speed online, in the form of reviews. What’s more is that in a recent national survey, 85% of consumers said that they read online reviews about local businesses. With that in mind, Yelp and the U.S. Small Business Administration (SBA) launched the Success With Online Reviews initiative to help America’s small businesses successfully engage...
On January 17, 1994 at 4:31 a.m., Los Angeles area residents were rudely awakened by a 6.7 magnitude earthquake. The Northridge Earthquake was felt as far away as Las Vegas, 265 miles away. The toll was devastating: an estimated $20 billion in damages, 60 people killed, and more than 40,000 buildings were damaged. The U.S. Small Business Administration approved 124,262 disaster loans for a total of $4 billion. In the twenty years since, earthquakes have cost U.S. residents and business owners millions in property losses. And the...
Are you an owner of a small disadvantaged business seeking to be certified in the U.S. Small Business Administration’s (SBA) 8(a) Business Development Program and to become competitively viable in the federal marketplace? Each year, companies graduate from the 8(a) program with the potential and capabilities to grow into successful businesses as a result of the business development tools received while in the program. Worldwide Technology, Inc. is one of many examples of successful graduates of the 8(a) Program and was #1 on...
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