Too often, entrepreneurs miss out on valuable resources available through the Small Business Administration (SBA). Dive in to discover five often overlooked programs that can bolster your business endeavors.
Entrepreneurs typically focus on developing their products, services, and customer base, but many overlook the wealth of resources available at their fingertips through the Small Business Administration (SBA). Partnering with various organizations and lenders, the SBA aims to help small businesses thrive through mentoring, access to capital, federal contracting assistance, and more. EmpowerLend.com echoes the sentiment shared by Holly Wade, Executive Director of the NFIB Research Center, who highlights the challenge of sifting through vast information to find the most valuable tools and resources.
With the aim to bridge this knowledge gap, we’ve listed some SBA programs that every small business should be aware of, based on insights from consultants, government officials, and trade-group executives:
- Small Business Development Centers: These centers offer training and counseling on capital access, business planning, financial management, and marketing. Locate a center near you on the SBA website under the Local Assistance tab.
- Score Mentoring Program: Since 1964, Score has been instrumental in aiding entrepreneurs. It’s partially funded by the SBA and offers expert mentoring and a variety of resources. Learn more on the SBA’s website or at score.org.
- Federal Contracting-Assistance Programs: The government aims for small businesses to win a minimum of 23% of all federal contracting dollars. The SBA has programs targeting women, veterans, and businesses in HUBZones to ensure they get their fair share.
- Small Business Innovation Research Programs (SBIR): Dubbed America’s Seed Fund, SBIR offers tech-driven businesses over $4 billion annually to convert innovative R&D ideas into commercial products. Check out sbir.gov for more details.
By leveraging these tools and resources, small businesses can not only survive but thrive in today’s competitive market. For more insights and support in your entrepreneurial journey, visit EmpowerLend.com.