SMALL BUSINESS ASSOCIATION ASSISTANCE PROGRAMS
SBA provides assistance primarily through its four programmatic functions:
- Access to Capital (Business Financing)
An array of financing for small businesses, micro-lending to substantial debt and equity investment capital (venture capital).
- Entrepreneurial Development (Education, Information, Technical Assistance & Training)
Free individual face-to-face, and internet counseling for small businesses, and low-cost training to nascent entrepreneurs and established small businesses in over 1,800 locations throughout the United States and US territories.
- Government Contracting (Federal Procurement)
In keeping with the mandate of Section 15(g) of the Small Business Act, SBA’s Office of Government Contracting sets goals with other federal departments and agencies to reach the statutory goal of 23% in prime contract dollars to small businesses. SBA also provides small businesses with subcontracting procurement opportunities, outreach programs, and training.
- Advocacy (Voice for Small Business)
Created in 1978, this office reviews Congressional legislation and testifies on behalf of small business. It also assesses the impact of the regulatory burden on behalf of small businesses. Additionally, it conducts a vast array of research on American small businesses and the small business environment. The Chief Counsel of this office is appointed by the President of the United States.
The Bottom Line . . .
The interesting interaction of entrepreneurship, educational partnerships and economic development has vital inputs and inferences for policy makers, schools, development institutes, business owners, change agents and charitable donors. If we understand the benefits and drawbacks, a balanced approach to nurturing entrepreneurship and education (at all levels) will definitely result in a positive impact on economy and society.