Description

Prospective small businesses owners/entrepreneurs come to SBA for help in starting their business. Often an individual or group identifies a market need/gap and develops a solution they believe forms the basis of a business. These prospective business owners may also identify a franchise or existing business they’re interested in purchasing.

Independent of the new business owner’s circumstances, the businesses seek SBA’s assistance as they develop their plan for starting their new business or when they encounter roadblocks that impeded their progress. Examples of barriers that drive customers to SBA include determining the appropriate business structure, difficulty developing business plans, challenges creating financial projections and identifying/accessing sources of funds to support starting their business. Through in-person, online, or phone interactions, customers explain their situation and their desired outcome to help the assigned SBA employee assess the best source of assistance.

Why this service was designated

Each year, nearly 1 million small businesses begin their entrepreneurial journey. Starting a business can be a complex process as business owners navigate the many decisions required to take their enterprise operational. These decisions range from administrative (establishing business structure, securing appropriate operating licenses) to operational (developing product logistics strategy, evaluating facility needs) to market analysis (defining target customer, performing market needs analysis) among others. Many new business owners are learning as they go, slowing the speed at which they’re able to start and grow their business.

SBA supports streamlining the startup process by supplying curated information, tools, and access to resources in alignment 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 in growing their business. SBA customers encompass the broad range of industries and business structures, including sole proprietors and independent contractors. These businesses have typically identified an opportunity to grow/expand their business and come to SBA for guidance in accessing information and 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. The district supports these customers through a tailored approach that assesses the business’s need and curates the appropriate sources of information, resources, and programs.

Why this service was designated

SBA is focusing on streamlining access to information and resources that facilitate small business growth and expansion by supplying curated information, tools, and access to resources in alignment with the needs of the business owner at the time they need it. The objective is to help businesses accelerate their growth timeline and improve their probability of success over the near and long term. 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. The greatest job growth after the Great Recession of 2008 came from small businesses and when the Covid-19 Pandemic erupted it was the gains of small businesses that public policy endeavored to support.