Posts Tagged ‘small business administration’
by Jonathan Staley on July 22nd, 2009
Do you have a business plan that has been updated in the last three months? If yes, you are already ahead of the curve according to the Small Business Administration’s (SBA) Peak Performance assessment. If you answered “no” to that question or any of the subsequent nine yes or no questions then it might be time to look for an organized approach to sloughing off the downward pull of the current economy.
Conveniently, the ten yes or no question evaluation leads you to eleven steps:
Step 1: Reality Check – Candidly answer the assessment questions above and take appropriate action... Read more »
by Christina Lee on July 1st, 2009
The latest initiative from the Small Business Administration and President Obama’s stimulus plan has experts wondering whether changes meant to help small businesses refinance will be beneficial at this time.
The administration’s Certified Development Company (504) lending program traditionally provides long-term, fixed-rate financing for assets like real estate, heavy machinery or other improvements. But as of last Wednesday, it now permanently allows small business owners to refinance such debt, as long as it is used for expansion purposes.
“This is one more piece of the Recovery Act that is going to have a direct impact and put more money in... Read more »
by Christina Lee on June 23rd, 2009
If a small business grant still seems within reach – that is, if your business meets basic qualifications – then it may be time to figure out where to search for such funding.
Do take advantage of programs offered though your state government, including the Department of Commerce and Chamber of Commerce. A quick online search for “(your state) small business grants” may also prove to be fruitful.
Do not start searching through the U.S. Small Business Administration. The agency does not offer grants to start up or expand small businesses. However, it does offer a variety of loan programs... Read more »
by Christina Lee on June 23rd, 2009
This month, Entrepreneur focuses on forms of “Creative Financing,” or non-traditional means of funding small businesses. One of these – grants – is generally advertised as free government money, no strings attached.
However, applicants must prove themselves worthy before reaping any rewards, through a rather extensive application process. Each grant program holds their own requirements, though in general, applicants can qualify if they meet these few:
Your business is small enough. Such size requirements are typically determined by the U.S. Small Business Administration. For all wholesale trade industries, this means 100 employees or less, according to clearinghouse Grants.gov.
Your business... Read more »
by Christina Lee on April 1st, 2009
Using bailout funds to expand existing small business credit lines is what two senators called a “common-sense solution” – one they hope to discuss soon with the Treasury Department.
Sens. Mary Landrieu, D-La., and Olympia Snowe, R-Maine, representing the U.S. Senate Committee on Small Business and Entrepreneurship, wrote a letter addressed to U.S. Treasury Secretary Timothy Geithner. It results from a March 19 hearing, where entrepreneurs discussed how credit and loan options have diminished despite perfect payment histories.
“Without our help, small businesses won’t be able to fulfill their role as the engine of economic growth at a time when... Read more »
by Christina Lee on March 24th, 2009
Though just launched last week, the Business.gov Community forums already look to be a promising effort to demystify government regulations concerning small business owners.
After registering, small business owners can post threads in a number of topic categories, ranging from business regulations to government contracting. Members have already asked about the legalities of affiliate marketing and whether one can make a business out of a hobby.
This being the first government-sponsored online community discussing small businesses, the moderators are consultants from the Business Gateway, a group of 22 federal agencies which include the U.S. Small Business Administration. The Community is... Read more »
by Christina Lee on January 7th, 2009
With less than two weeks until President-elect Barack Obama’s inauguration, small business owners may witness the start of a few changes over the next few months. Keep watching closely to see what develops:
The $300 Billion Tax Cut
Throughout his presidential campaign, Obama has supported the implementation of a middle-class tax cut, amounting to $500 for workers and $1,000 for families. But his latest economic agenda calls for far more money than anticipated and potentially more than ever requested by any president.
Provisions aimed for immediate relief include one that would allow businesses to write off huge losses of 2008... Read more »
by Christina Lee on December 10th, 2008
To many, Sen. Olympia Snowe (R-Maine) has proven over the past 14 years that her voice can resonate throughout the Senate. Right now however, Snowe has less than six weeks left to see if her recent calls for small business aid have reached the ears of President-elect Barack Obama.
What Snowe wants most is a Small Business Administration (SBA) seat back in the Cabinet – one that President George W. Bush did not elect, and one she and others have sorely missed. Furthermore, elevating the agency’s incoming administrator, she said, “will send a clear signal that small business will drive... Read more »
by Christina Lee on November 19th, 2008
Consumer prices dropped in October by 1.0 percent – the largest decline ever measured by the Bureau of Labor Statistics, and a sure sign to economists that prices are deflating.
Economists also noted as another indicator yesterday’s recorded 2.8 percent decline in wholesale prices – the biggest decline measured since over the past year.
While consumer prices are still 3.7 percent higher than they were in October 2007, experts still fear that overall business in the nation will suffer, as consumers actively seek lower prices in goods and services. As About.com writer Darrell Zahorsky wrote , deflation is “great news... Read more »
by Rebecca Button on March 12th, 2008
The Small Business Administration is a great resource for small businesses as I’m sure you know. But with all that information, it can be a bit difficult (if not simply time consuming!) to wade through it all.
Here are a few tools that the site offers that will help you analyze where your business currently stands in terms of being prepared to start a business as well as whether you are qualified for the 8(a) Business Development Program .
These tools have only been available for 3 months now and already the SBA says over 125,000 people have used them.... Read more »