Description

Many prospective small businesses owners/entrepreneurs come to SBA for assistance as they contemplate starting a new business. Often an individual or group identifies a market need/gap and develops a solution they believe forms the basis of a business model. Other prospective business owners may also identify a franchise or existing business they’re interested in purchasing.

Independent of the new business owner’s circumstances, many seek SBA’s assistance as they develop their plan of action. New business owners need help determining the appropriate business structure for their venture, how to develop a business plan, and identifying/accessing sources of funds to support the creation of their business. Through in-person, online, or phone interactions, customers engage with SBA employees, SBA.gov or SBA’s partner network to get the help they need to move forward.

Why this service was designated

Each year, nearly 1 million small businesses begin their entrepreneurial journey. Starting a business can be a complex process. Business owners must navigate many decisions before opening their doors, to include administrative items (securing appropriate operating licenses), operational components (developing product delivery strategy, evaluating facility needs) to market analysis principles (defining target customers, performing market analyses). Most new business owners must learn as they go, so the ability to use their time effectively is of utmost importance.

SBA supports streamlining the startup process by supplying curated information, tools, and access to resources to align with the needs of the entrepreneur at the time when they need it. The objective is to help businesses accelerate their startup timeline and improve their probability of success in the near and long term.

Description

Operating small businesses owners come to SBA for help to grow their businesses. SBA customers represent a broad range of industries and business operating structures, including sole proprietors and independent contractors. These businesses have typically identified an opportunity to grow/expand their business. Whether they need additional capital to expand lines of service or information on how to sell their products to the government, operating businesses engage SBA for access to the resources that will facilitate the desired business objective.

Customers visit SBA.gov or their local district office for information on the types of assistance available to support their growth aspirations. SBA can support these customers through a tailored approach which often includes an assessment of the business’s need and identification of the appropriate sources of information, resources, and programs.

Why this service was designated

SBA is focusing on streamlining, customizing and delivering information and resources that facilitate small business growth. The objective is to help businesses accelerate their growth timeline and improve their probability of success over the near and long term. Small business success is vital: As the backbone of the American economy, small businesses employ 61.2 million workers and create 64.9% of net new jobs created. Small firms also generate 44 percent of U.S. economic activity.