What is the Small Business Administration?

The United States Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government. The purpose of the agency is to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of the nation. Those who work at the Small Business Administration recognize that small business is critical to economic recovery and strength and to building America's future, and to helping the United States compete in today's global marketplace. The Small Business Administration has grown and evolved extensively in the years since it was established in 1953, yet its purpose remains the same. The SBA is there to help Americans start, build and grow businesses. This is done through an extensive network of field offices and partnerships with public and private organizations. In addition the SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

There are four main components to the Small Business Administration these are:

• Small business planner
• Services
• Tools
• Local resources

We will provide a brief overview of each section here but for detailed information prospective business owners are encouraged to visit their website at www.sba.gov.

In the Small Business Planner you will find resources to help you plan, start, manage and even exit your business. Planning is critical to successfully starting and building a viable business. In this section you will find guidance on the tools and resources necessary to write a winning business plan. Included in this section are sample plans and a business plan primer. In addition once your business is up and running, you can use the tools here to regularly review and update your plan in order to manage growth. Should you need to exit your business there are tools here that can help you determine the best strategy possible.

In the Services section of the Small Business Administration you can learn about SBA programs and services that support you, the small business person. This area provides information about SBA-backed loans, government contracting opportunities, disaster assistance and training programs that can help your business succeed. There is also online training that will allow you to improve your business skills. In this section of the website you can also find information on counseling and assistance for specific needs. There is also information that is specific to certain demographics of both business owners and target markets. Along with the this wealth of information you will also find needed legal and compliance issues discussed.

In the Tools section of the Small Business Administration you will helpful ways to increase your business knowledge and productivity. The SBA provides business owners with a wealth of information that is unique to small business through monthly chat events, electronic newsletters, pod casts and a myriad of other business resources to support your business needs. The SBA is known to have a large reference library of business related material that is easily accessible on their website. In addition in this section you can find several forms that are easily downloadable that can be helpful in the day to day running of your business.

In the local resources section you will find information about resources in your area. You can then support your business with a team of experts. It is important to understand that business guidance and support is crucial to increasing your odds of long-term success. By using the tools on the Small Business Administration website you can find counseling, training and business development specialists providing free and low-cost services in your area.

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