Small Business Administration Research

Many people want to live the “American Dream”, and what better way to do that than to start a small business. Small businesses are incredibly important to the United States economy. Small businesses have been around from the beginning of the history of the U.S. and remain a large portion of the business community today. Small businesses are the driving force for job creation. Small businesses struggle to meet regulations set in place by the government and at the same time stay afloat in the U.S. economy. There are strict size standards set in place that make small business owners weary of expanding the amount of people they employ. Small business owners also struggle with offering healthcare to their employees. Small businesses try to stay ahead by introducing new and unique products. In an ever-changing economy, it is important to understand the impact of small businesses in the United States.

The Small Business Administration “aids, counsels, assists, and protects the interests of small business concerns.” They assist small businesses by providing them with whatever is necessary and will not stop until they get the business to be successful without their assistance. Although they are not able to give the business all of the necessities they need, they do their best and as much as they can do. Their motto is, “Aid, counsel, assist, and protect insofar as is possible, the interests of small business concerns.”

Small businesses are the core of the engine that runs the American economy. They are a very intricate and essential part of what makes America strong. Annually there were approximately 400,000 new small businesses started every year in the United States of America. Before the recession the normal business closure for companies in America were approximately 100,000 annually. This rate of exchange between new and closing businesses is known as “the birth and death rate of American companies”. After the recession the death rate of businesses in the United States has increase exponentially, growing from 100,000 companies a year to approximately 470,000 companies closing annually (Joseph, 2014). Most may think this is a result of the recession,

Although so many businesses large and small are started every year, over 90% of businesses fail. Why is that?

The United State Small Business Administration was established in 1953. It states in its mission statement that it is an independent agency of the federal government used to aid, counsel, assist and protect individual small business. The S.B.A. helps preserve free competitive enterprise, which in turn helps our national economy to continue to grow. The agency does this by offering numerous initiatives to help small business owners to start and be successful with their business. They provide online training courses, provide information on loans and grants, and provide information on local S.B.A. offices. Information is also provided for disaster assistance and also helps locate people for mentoring and support.

Statistics from the Small Business Administration show 50% of all new businesses fail within the first five years and one-third of businesses are still open after ten years. There are many reasons businesses fail. They include:

U.S. Small Business Administration (SBA) is a government agency that provides assistance for entrepreneurs and small business. The mission of SBA is to help Americans start, build and grow business. Because SBA knew it is challenging to strengthen the economic powers for the small business, therefore the office provides the following services for the small business companies:

The U.S. Small Business Administration also known or referred to as the “SBA” was created by Congress in 1953. The SBA was originally created to serve as an independent agency of the federal government. The SBA fulfills its mission by offering loans, loan guarantees, government contracts and as well financial counseling and many different ways of assistance to America’s small businesses. Anybody with a small business or who wants to start their own business benefits from this program because the SBA is willing to assist in getting loans to help get you started. In 2000 , 47 years after the SBA was created that’s when they had their largest budget. 11 years later in 2011 the SBAs budget reached to be about 6.2 billion. The SBA is only was responsible

A long held common belief has been that small businesses fail within the first year of opening and most close down within five years. According to Small Business Administration (SBA), about 50% of all small business survive at least five

According to the Small Business Act (SBA) of 1953; small businesses should receive a fair proportion of federal contracts and those small businesses should have the maximum practical opportunity to participate in federal contracting. The Small Business Act established the Small Business administration (SBA) to aid small businesses and to insure they receive a fair proportion of federal contracts. 3%governmentwide goal for awards go to historically underutilized business zone (HUBZone) small businesses, and 3%governmentwide goal for awards to service-disabled veteran-owned small businesses (SDVOSB). A contract can get counted towards more than one goal: an award to an SDB in a HUBZone that is owned by a service-disabled woman veteran would be counted towards all the goals.

The first factor is the failure to react to changes in society or the marketplace. Many business owners think that their success in the past will continue to work and help their business grow, but in reality, society and demands change all the time, especially with the development of technology. Failure to adapt to these changes will cause many businesses to become outdated and lose to their competition. Another factor for failure is the inability to price a product or service correctly. There are many examples of this, one including a business making a product expensive for customers even though it isn't of high quality. This mistake will make businesses lose their customer base and eventually fail. Another example is if a business tries to make a high quality product, but also sell it for a cheap price. This will make the business lose money, therefore narrowing its chances of achieving business success. Although there are many failure factors, one important one that means the difference between a successful business and a failed one is the lack of financial management. Good financial skills are needed in a business in order to control and track the money that it earns and spends. An example of this failure factor is if a business chooses to spend more money than it can earn, and also chooses to spend it on something unproductive. This will cause the business to lose its money and fail. Overall, there are

The United States Small Business Administration states that almost 50 percent of small businesses created will fail within the first year, while 66 percent survives during the first two years (The United States Small Business Administration, 2015). Envisioning the future of small business in connection with evaluating success or failure of small businesses is a captivating area for many researchers (Davidson & Kolfsten, 2003). A study on why small businesses in Mississippi have a higher failure rate than small businesses in New York. Stakeholders in Mississippi, particularly the small business owners, aspiring entrepreneurs, business consultants, lending corporation, investors, and customers would want to know the determining factors causing

Numerous large businesses that are operating today were once started as small businesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses.

Have you ever heard of a speech community? A speech community is a community of people who share the same language and or pattern of language. It is a community where people who are outside that community wouldn’t understand the language. Everyone has their own speech community and could have more than one. A community that I belong to is at my work which is a consignment shop. I have worked at this consignment shop for about 3 years now. I like working at this consignment shop because I work with people I love and have known my whole life. The fact that I spend pretty much every day working with people who are like my family is the best. I also love working here because all of the same customers come

To me, failure in the online business world is this: quitting after three months (or any amount of time) because you 've gotten tired of working hard with no results, or after not making a single dollar after six months, or