Small Business Administration : Small Businesses

The Small-Business bill was created to help out small businesses. The bill includes tax-breaks and a thirty billion dollar small-business lending fund. Congress is hoping that this will create more job openings because the businesses must hire a certain amount of people off the unemployment line. This will insure the percentage of people that are unemployed to decrease. The bill would raise new-business expense deductions from

The U.S. Small Business Administration was founded on July 30, 1953, and has delivered millions of loans, contracts, counseling sessions, loan guarantees, and other types of assistance to small businesses. Even though SBA was formally created in 1953, its philosophy and mission began to form years earlier in other agencies and began largely as a response to the pressures of the Great Depression and World War II (Business, 1988). These events caused mass hardship on the economy, and the best way to promote it again was through small business. The Small Business Preference Program was created to guarantee that small businesses received their fair share of contracts for federal government services and supplies. The intent was to help strengthen the economy by allowing small businesses to get a portion of the property government sold as well. 23% of all Federal-contracting dollars must be awarded to small businesses, and specifically, 5% to women-owned small businesses. There are many different types of small businesses, and each receives a portion of the contract the government gives. The WOSB Program became effective in the FAR on April 1, 2011, and is one of the types of small businesses that are given preferential treatment (SBA.gov).

There is a reason the term “small business” is vague; it reflects the lack of a generally accepted definition. The U.S. Small Business Administration (SBA) has established numerical definitions of small businesses. These size standards vary to reflect industry

Small business are said to be the backbone of the United States economy. It said that small businesses contribute to growth and vitality in the specific area of the United States economic development. Small businesses play a huge role in how the business world is shaped. Entrepreneurs are smart, creative and innovative however, those same entrepreneurs need to have some knowledge that the study of microeconomics focuses on. With the study of microeconomics, their product or future business will succeed in an economic view point.

* Small Businesses are companies that have between 1 and 99 employees under its organization.

Small businesses are an integral part of job creation and of driving the US economy. However, the current healthcare system has severely disadvantaged small business in comparison to the larger companies. According to research, small businesses with fewer than 20 employees accounted for approximately 18% of private sector jobs in 2008, but about 25% of net employment growth from 1992 to 2007 (Arvantes, 2010). Small businesses also rates highly in terms of jobs creation, in start-ups, as well as being a key source economic growth and of innovation. Historically, small businesses have encountered numerous challenges to offering affordable insurance coverage to

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.”

The SBA is a government agency in the United States that provide support to small businesses and entrepreneurs. According to the small business administration there mission is “to maintain and strengthen the nation 's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters.”

The U.S. Small Business Administration (SBA) is a federal agency with a primary purpose of helping American businesses. Upon reading the SBA’s mission, you will find the sentence “The SBA helps Americans start, build and grow business” (2017). The SBA offers many resources to Americans who need assistance to start or grow their businesses. These resources help American business thrive by obtaining financial and informational assistance.

Small businesses are mighty minnows, reflecting the competitive spirit that a market economy needs for efficiency; they provide an outlet for entrepreneurial talents, a wider range of consumer goods and services, a check to monopoly inefficiency a source of innovation, and a seedbed for new industries; they allow an economy to be more adaptable to structural change through continuous initiatives embodying new technologies, skills, processes, or products (Ibielski 1997, p. 1).

The small business marketplace is extremely dynamic and the changes are fast. Here are some encouraging facts from the US Small Business Administration on small businesses. There are about 30 million small businesses in the United States and employ just over half of the country’s private workforce. They employ a staggering 40% of high tech workers such as computer professionals, scientists and engineers. More than half of the small businesses are home-based businesses and two percent of them are franchises. One of the most important aspects is the fact that a majority of innovations in the United States come from small businesses.

Small businesses are becoming a trend in the work environment today. The analogy of small businesses to large business brings about the question, “Can they eventually equal up in the world

Small medium sized enterprises and small and medium sized businesses are often referred to as SMEs. These are companies whose number of employees or turnover falls underneath certain limits. The EU defines companies with fewer than 50 employees as small, and those

Small businesses are important to the U.S economy for multiple reasons. According to the U.S Small Business Administration, small businesses represents for 99.7 percent of all employer firms, have generated sixty four percent of new jobs and paid forty four percent of the total united states payroll (Brown, 2017) . Small business is an important role not just in the US economy, but they also play a major role in the growth of the individual community that they are located in. Small businesses give citizens of the community an opportunity for employment by offering jobs that the individuals may not have to have degrees or accolades to qualify for unlike jobs in larger corporations. Although small business is very important to the economy and the community, often times small

The importance of small and Micro Enterprises (SMEs) in the economy of any country cannot be overlooked. In fact for nearly 15 years, most researchers dealing with economic planning have highlighted the significance of these enterprises stating that they are a key player in realizing any country’s economic goals. As such, governments as well as other organizations with interest in development are laying plans and strategies to promote the establishment of Small and Micro Enterprises. This is seen as a move to ensure that there is full participation of SMEs in the country’s economy. The Small and Micro Enterprises have been known to contribute to a large extend as a source of innovation, entrepreneurial skills as well as source of employment. For example, statistics in 25countries of the European Union show that 99% of the jobs provided to its citizens come from the micro, small and medium-sized enterprises. Rowe (2008) points out that the British economy relies heavily on the participation of SMEs. On the other hand, 99% of the UK’s economy is composed of small and micro enterprises.