Tuesday, 7 May 2013

The Small Business Administration Offers Resources to Grow Your Business

Small Business Administration
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Starting a small business is tough and it's even harder if you don't have access to resources to help you along your journey.  If you are thinking about or ready to start a business, there is a resource you definitely need to be aware of: the Small Business Administration (SBA).
  
The Small Business Administration is a U.S. government agency that assists small businesses and entrepreneurs. The agency’s activity can be summarized in three words that include contracts, capital and counseling. SBA loans are made through credit unions, banks and other lending companies that partner with the SBA. These loans are enhanced to provide up to a 90 percent guarantee. There are several services that the Small Business Administration provides for businesses today.

Programs

This agency provides various programs that help individuals start their own businesses. This includes topics on creating a business plan, choosing a business structure and obtaining licenses and permits. Additional information includes how to choose and register a business name and a guide to business regulations and laws.

Another useful guide that this agency provides is a basic course on how to manage a business. It includes useful information about how to grow a business, running a business, business regulations and laws. Additional topics include how to lead a company and how to get out of a business. It also includes a guide on local resources, health care and business guides for industry.

Loans

The agency also provides a guide to the loan programs it offers to help small businesses grow. Loan programs include debt financing, venture capital programs, surety bonds, microloan programs, the CDC/504 loan programs and disaster loans. Each of these loan programs also has a guide to eligibility requirements, use of their proceeds, fees, repayment terms, interest rates and the application process.

The agency also provides people with a guide to prepare their loan application. It includes topics that help people determine their financing needs and credit factors. The agency provides a business loan checklist. This checklist describes the documentation requirements and questions that lending companies will ask before approving a loan. The SBA also has a tool that helps people find small business loans from their local and state governments. These programs include venture capital, low interest loans and economic and scientific grants.

Grants

The Small Business Association also provides useful information about government grants. This includes application forms for construction and non-construction grants. The website has an article about research grants designed for small businesses from the Small Business Technology Transfer Group and Small Business Innovation Research. The agency also has a complete list of various government agencies that offer STTR and SBIR programs through the federal government. Additionally, the agency has a search tool that helps people find grants from local, state and federal governments.

Contracting

This agency also provides a thorough guide to contracting. It includes steps that businesses should complete to increase their capacity to contract in the industry. It also explains the agency’s role in government contracting, small business size standards and much more. Additionally, the agency includes contracting support for small businesses. This informs people about government-provided tools to help entrepreneurs build their business potential to compete in the federal sector.

The Small Business Administration website helps business owners gain in-depth knowledge of the business world. At the same time, this agency provides numerous options to help people grow their businesses.  If you're ready to do business, the SBA is a place you should visit.




Other articles you may enjoy:

Propel Your Business Towards Success

Small Business 101

Simple Steps to Form a LLC




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