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| − | Small businesses are defined as privately owned and operated companies employing a small number of workers. In the United States, the legal definition of a small business is determined by a set of criterion specified by the [[SBA|Small Business Administration]]. Small business are pervasive throughout the United States and other countries. Typical examples of a small business include:freight trucking, residential builders, exterior contractors,and architectural contractors[http://www.entrepreneur.com/article/226256]. According to the SBA there are approximately 28 million small businesses in the United States that comprise 55% of all US jobs. Furthermore, the number of small businesses in the United States has increased by approximately 49% since 1982.
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| − | [[Image:smallbusiness.jpg|300px|thumb|right]]
| + | {{McNair Topic Areas |
| | + | |image=American-City-Business-Journals-corporate-office.JPG |
| | + | |caption=Small Business Offices in the United States |
| | + | |Topic Area Name= Small Business |
| | + | |Team Members=Dylan Dickens |
| | + | |Primary Billing=Dr. Edward Egan |
| | + | |Keywords=Small Business, Entrepreneurship |
| | + | |Caption=Small Business Offices in the United States |
| | + | |Image=American-City-Business-Journals-corporate-office.JPG |
| | + | }} |
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| − | =='''The Small Business Administration'''== | + | =Summary= |
| − | {{:SBA}}
| + | The McNair Center's topic area on Small Business is the concerted effort to inform the public on the details of small business, the best practices for maintaining and or growing one, and how government regulatory and supporting bodies effect them. Particular interest is granted to educational blog posts and wiki pages to spread information, and investigative research concerning the [[Small Business Administration]]. |
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| − | =='''Survey Respondents on Small Business Issues'''== | + | =Projects Outline= |
| − | {| class="wikitable sortable" style="width: 100%;"
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| − | ! style="width: 5%;" | Survey
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| − | ! style="width: 1%;" | Date
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| − | ! style="width: 20%;"| Labor Markets
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| − | ! style="width: 20%;"| Capital
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| − | ! style="width: 20%;"| Sales
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| − | ! style="width: 25%;"| General Outlook
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| − | ! style="width: 9%;" | Data
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| − | | [http://www.nfib.com/assets/SBET-February-2016.pdf SBET February 2016]
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| − | | February 2016
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| − | *42% of businesses in the survey report few or no qualified applicants for a position that they were trying to fill
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| − | *4% of small business owners surveyed reported that company borrowing needs were not met
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| − | *11% cite weak sales as their principal business problem
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| − | *Spending and hiring plans fell as expectations for growth in real sales volumes declined
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| − | ('''N=2194''', Data was obtained from membership files of the NFIB)
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| − | | [http://newsroom.bankofamerica.com/files/press_kit/additional/Small_Business_Owner_Report_-_Fall_2015.pdf Small Business Owner report]
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| − | Fall 2015
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| − | *67% planned to hire 12+ employees within 2015
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| − | *46% of small businesses surveyed cite credit availability as their primary concern
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| − | *28% of businesses say they will use recently acquired funding to develop a new product or service within the next year
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| − | *56% say they expect the US economy to improve within the next 12 months
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| − | *72% of small businesses expect their revenue to increase for the year
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| − | |('''N=1,001''' small business owners in
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| − | the US with annual revenue $100,000<x<$4,999,999 and employing
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| − | between 2<x<99 employees)
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| − | | [https://wellsfargoworks.com/File/Index/J6WCK2WHn0yd-wrTX8btvA WellsFargo survey]
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| − | January 2016
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| − | *26% of small businesses expect to hire in Q1 2016
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| − | *66% of businesses expect the number of jobs to stay the same
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| − | *11% of businesses say that hiring and retaining qualified staff is their most pressing problem
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| − | *19% of businesses responded that obtaining credit was difficult
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| − | *5% of say cash flow and financial stability as the company's biggest problem
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| − | *4% of businesses surveyed speculate credit availability may be prohibiting company growth
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| − | *14% experienced difficulty attracting customers in Q1 2016
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| − | *38% of businesses surveyed stated a positive revenue increase in Q1 2016
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| − | *67% of small businesses regard their financial situation as good or very good in Q1 2016
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| − | *71% expect a positive financial future within the next 12 months
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| − | *8% of small businesses say that the economy is the principal problem their business is facing
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| − | |('''N=600''' small business owners in Q1 2016)
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| − | |[http://www.vistage.com/wp-content/uploads/2016/02/WSJ-CEO-Survey-0116.pdf WSJ survey]
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| − | January 2016
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| − | *54% of businesses surveyed said they expect firm size to increase
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| − | *40% of businesses reported that they expect their firm's fixed investment expenditures to increase during the next 12 mo.
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| − | *73% report an expected sales increase within the year
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| − | *54% of firms expect their profitability to improve
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| − | *Investments in new plant and equipment have fallen to their lowest level in more than two years
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| − | *20% of firms expect the economy to worsen in the year ahead—the highest level in more than two years.
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| − | |[https://www.newyorkfed.org/medialibrary/media/smallbusiness/SBCS-2014-Report.pdf NY Fed Survey]
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| − | 2014
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| − | *27% of businesses reported an increase in their full time staff
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| − | *15% reported a decrease in their full time staff
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| − | *58% of respondents reported no change in their employee base
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| − | *23% of businesses reported 10-25K of debt
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| − | *62% of businesses had applied for <100K of financing
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| − | *41% responded they'd sought financing from a large regional bank
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| − | *35% of respondents reported increasing revenues and positive profitability
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| − | *23% of businesses said they'd experienced difficulty in attracting customers
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| − | *29% of businesses reported personal savings as their primary financing source
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| − | *29% of businesses operated at a loss
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| − | *13% of respondents said the increasing costs of running their business was their principal concern
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| − | 10 states of coverage: Alabama, Connecticut,
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| − | Florida, Georgia, Louisiana, New Jersey,
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| − | New York, Ohio, Pennsylvania, and Tennessee with businesses <500.
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| − | =='''Issues Facing Small Businesses'''== | + | ==Completed Work== |
| − | ===Health Care===
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| − | {{:Affordable Care Act}}
| + | ==Work in Progress== |
| | + | *A [[Small Business Development Ecosystem of Houston| Portal]] on resources for small business owners. |
| | + | *[[Dylan Dickens]]' [[Houston SBA Loans (Blog Post)| Blog Post]] on the loaning practices of the Houston SBA office. |
| | + | *An [[The Affordable Care Act and Small Businesses (Academic Paper) | Academic Paper]] detailing the effects of the Affordable Care Act on small businesses |
| | + | *The [[Small Business Research]] represents the current educational wiki page concerning small business. |
| | + | *[[Small Business Data]] A page compiling data on Small Businesses. |
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| − | ===Access to Capital=== | + | ==Future Work== |
| − | {{:Access to Capital}}
| + | *[[(Blog Post) Best Practices for Small Business|A Blog post]] concerning best practices for Small Business on the McNair Blog. |
| − | ===Student Debt===
| + | *An [[SBA Investigation (Report)|investigative report]] taking a look at the financial activities of the [[SBA|Small Business Administration]]. |
| − | {{:Student Debt}}
| + | *A [[What's Killing Small Businesses? (Blog Post) | Blog Post]] describing the governmental and societal factors that are causing small businesses to fail |
| | + | *An [[Government Regulations affecting Small Businesses(Academic Paper) | Academic Paper]] detailing the effects on small businesses directly caused by specific government-issued regulations |
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| − | ===Patent Reform===
| + | [[Category:Small Business]] |
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| − | {{:Patent Reform}}
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| − | ===Gender Equality===
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| − | {{:Women in Entrepreneurship}}
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| − | =='''Small Business Data Sets'''==
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| − | {| class="wikitable sortable" style="width: 100%;"
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| − | ! style="width: 15%;" | Name
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| − | ! style="width: 25%;" | Description
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| − | ! style="width: 25%;" | Link
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| − | ! style="width: 35%;" | Data Summary
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| − | |Dynamic Small Business Search
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| − | |The Small Business Administration maintains the Dynamic Small Business Search (DSBS) database. As a small business registers in the System for Award Management, there is an opportunity to fill out the small business profile. The information provided populates DSBS. DSBS is another tool contracting officers use to identify potential small business contractors for upcoming contracting opportunities. Small businesses can also use DSBS to identify other small businesses for teaming and joint venturing.
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| − | |Office of Advocacy News
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| − | |The News Update File is an xml news update file to inform the public about recent regulatory alerts, Advocacy small business statistics reports, Advocacy small business research reports, and Advocacy regulatory comment letters.
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| − | |State Licenses & Permits
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| − | |Identifies the specific licenses or permits a business may need depending on the type of business, its location, and applicable government rules.
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| − | |FDIC
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| − | |Private sector loans to small businesses
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| − | |World Bank (doingbusiness.org)
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| − | |The World Bank’s Doing Business series, dating to 2001, is an annual compendium and international ranking of regulatory measures impacting small business, such as the number of days it takes to legally register a business. Different aspects appear each year.
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| − | |Kauffman Foundation
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| − | |Studies and data on small business and entrepreneurship
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| − | |Warrington College of Business
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| − | |IPO data
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| − | |Bureau of Labor Statistics
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| − | |Highlights from data series produced by BLS Business Employment Dynamics (BED) program provide some insights on the contribution of new and small businesses to the number of businesses and jobs in the economy.
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| − | |Federal Procurement Data System
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| − | |This report displays the dollars, actions, and percentages for small business contracts. The goaling exclusions apply to this report. This report is run by funding agency.
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| − | |PayNet small Business Lending Index
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| − | |PayNet specializes in loan data and has a database which includes information on more than 20 million loans and leases. For these indexes, PayNet uses the data from US companies which have less than $1 million in total outstanding loans.
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| − | |Paychex
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| − | |Paychex tracks changes in the employment levels of 350K small businesses with <50 employees
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| − | |ADP small business report
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| − | |The ADP Small Business Report provides the number of jobs created or lost by company size (1-19 employees, 20-49) and sector (goods or services). A seperate report details job gains and losses for national franchises.
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| − | |Intuit Small Business Index
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| − | |The index measures compensation, hours worked, and revenue for companies with <20 employees
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| − | |Statistic Brain
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| − | |Startup Business Failure rates by industry
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| − | |The National Venture Capital Association Yearbook
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| − | |Details the state of the venture capital market in a given year
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| − | |NFIB Small Business Report
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| − | |Measures economic trends in small businesses
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| − | |Medical Expenditure Panel Survey
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| − | |A set of large-scale surveys of families and individuals, their medical providers, and employers across the United States. MEPS is the most complete source of data on the cost and use of health care and health insurance coverage
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| − | |SBA Lenders
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| − | |Table displaying the 100 most active SBA 7a lenders in the US by lending volume in FY 2016 through Q2
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| − | |Kaiser Family Foundation
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| − | |Annual Survey of employers providing a detailed look at trends in employer-sponsored health coverage
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| − | |}
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| − | =='''Helpful Websites'''==
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| − | *The Small Business Administration: https://www.sba.gov/
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| − | *The Federal Reserve Board Survey of Small Business Finances: http://www.federalreserve.gov/pubs/oss/oss3/nssbftoc.htm
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| − | *Trends in Small Business: http://smallbiztrends.com/
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| − | [[Blog Post]]
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| − | =='''References'''==
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| − | 1. http://www.gallup.com/businessjournal/186179/student-loan-debt-major-barrier-entrepreneurship.aspx
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| − | 2. http://www.entrepreneur.com/article/237926
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| − | 3. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2417676
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| − | 4. http://www.gallup.com/businessjournal/181592/potential-entrepreneurs-aren-taking-plunge.aspx
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| − | 5. http://www.forbes.com/sites/kauffman/2014/09/15/student-debt-and-the-millennial-entrepreneurship-paradox/#286763962f70
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| − | 6. http://obamacarefacts.com/obamacare-small-business/
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