Recent reports show small business optimism at the highest levels, record unemployment rates, and a booming economy, which is all good news for our 30 million small businesses that are America’s economic engine.
As we recognize National Entrepreneurship Week — from February 15-22 — the U.S. Small Business Administration (SBA) wants to be your partner as you transform your idea or dream into a thriving business.
As we celebrate this important week, we are highlighting how the SBA can help you at every business stage. We help to power small businesses by providing assistance that ranges from counseling and training expertise to access to capital.
Planning
In the pre-startup phase, you’re confident that you have what it takes to start a business, but you may be uncertain where to begin. Developing a business plan will help you get clarity about what direction to take your future business in. The SBA offers abundant business planning resources, from our Business Planning Guide to our self-paced online course on How to Write A Business Plan.
At this stage, you may also want to connect with an SBA resource partner for expert guidance on everything from conducting market research to deciding on a business structure to picking your location. SBA resource partners (including SCORE, Small Business Development Centers, Veterans Business Outreach Centers, and Women’s Business Centers) are there for every step of your business journey with free and low-cost counseling and training.
Launching
If you have the basics ironed out, you’re almost ready to get your business off the ground. The next step is to make sure you have the funding in place to sustain your business over the coming year and beyond. You can learn about different funding types – including self-funding, crowdsourcing, and venture capital – on our website.
We help business owners get the funding they need by offering SBA-guaranteed loans. The advantages of SBA-guaranteed loans include lower down payments, flexible overhead requirements, and no collateral needed for some loan options. Use our free Lender Match tool to connect with more than 800 SBA-approved lenders from around the country.
Managing
Once you’re past the initial hump of starting up, you may still need some support with the day-to-day maintenance of your business – whether that’s hiring new employees or managing your taxes. Our Business Guide will walk you through key everyday business management tasks. You can also supplement with courses available through our Learning Center and other online SBA resources (including blogs on small business topics).
Growing
Throughout your business journey, you’ll always be looking for opportunities to expand. Did you know that the federal government aims to award 23% of prime contracts to small businesses? We not only offer resources to walk you step-by-step through the process of becoming a contractor, the SBA also offers contracting assistance programs that help individuals in select groups (e.g., women-owned businesses, service-disabled veteran-owned businesses, etc.) to qualify for exclusive set-aside federal contracts.
Business owners are constantly learning and growing. The SBA is here to support your entrepreneurial education and development this National Entrepreneurship Week and beyond.