Small Business Administration offers counseling and training for fledging businesses
By Tom Salisbury
Region 7 Regional Administrator,
U.S. Small Business Administration
New statistics from the federal government note that 44 percent of the 5.3 million new jobs created under President Donald Trump’s Administration, are generated by our nation’s small businesses. When you add to that the fact that studies show small business optimism continues to be high, and the impact of small businesses on our future economy is not only significant, but critical, to the USA’s economic growth.
U.S. Small Business Administration (SBA) Administrator, Linda McMahon, highlighted the agency’s role in helping to secure small business success and the President’s State of the Union address, during recent interviews this week. Administrator McMahon is particularly encouraged by our country’s young people working in technology at work-sharing spaces and incubators, as well as the number of women seeking to start their own businesses. In particular, she noted that tech and health care industries are booming. These groups may know their craft, she noted, but often need help developing the business acumen necessary to thrive.
And, that’s where the SBA and our resource partners can help. The SBA’s Women’s Business Centers, Small Business Development Centers, and SCORE mentors offer the counseling and training necessary for fledgling businesses to take flight. Additionally, these resources can help small business owners navigate hiring during the historically low unemployment rate of less than four percent and help them determine how to structure pay plans at a time when wages in our marketplace have risen above three percent in the last six consecutive months.
More small businesses are being created, too. This is great for our economy, but presents challenges if that new business down the street is a competitor of yours. Competition brings with it the need to examine not only business structures, but to strategically determine whether new products and supply lines might be beneficial and increase customer bases. SBA resource partners can help small business owners strategically determine which future courses of action are advisable.
As the U.S. embarks upon the exciting task of rebuilding America, the American dream of building a business remains at the heart of our prosperity. I encourage you to contact a resource partner affiliated with the SBA, to see how these federal government programs, supported by the SBA, can multiply your chances for success.
Nearby resource partners can be found by typing your zip code in to the SBA’s new Local Assistance Look-Up Tool at https://www.sba.gov/local-assistance.