Difference between revisions of "Small Business Administration"

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[[Category:Internal]]
 
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==About==
 
==About==
 
<onlyinclude>Created in 1953 as an independent agency of the federal government, the Small Business Administration (SBA) has two strategic goals: first, growing businesses and creating jobs, and second, to serve as the voice for [[:Small Business]]. SBA claims that the core of their entrepreneurial development is the foundation of targeted, effective advising, training, and mentoring services to drive business. Their entrepreneurial development performance goal focuses on driving greater participation in the resource partner advising and mentoring programs and training courses. The [[:SBA]] primarily offers a range of financial assistance programs for small businesses that may have trouble qualifying for a traditional bank loan. The SBA guarantees $65 million in loans to small businesses through its two major loan programs, 7(a) and 504. Follow this link for a list of the major [[SBA Loans]]. SBA's programs also include financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade. [https://www.sba.gov/about-sba/what-we-do/history ] </onlyinclude>
 
<onlyinclude>Created in 1953 as an independent agency of the federal government, the Small Business Administration (SBA) has two strategic goals: first, growing businesses and creating jobs, and second, to serve as the voice for [[:Small Business]]. SBA claims that the core of their entrepreneurial development is the foundation of targeted, effective advising, training, and mentoring services to drive business. Their entrepreneurial development performance goal focuses on driving greater participation in the resource partner advising and mentoring programs and training courses. The [[:SBA]] primarily offers a range of financial assistance programs for small businesses that may have trouble qualifying for a traditional bank loan. The SBA guarantees $65 million in loans to small businesses through its two major loan programs, 7(a) and 504. Follow this link for a list of the major [[SBA Loans]]. SBA's programs also include financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade. [https://www.sba.gov/about-sba/what-we-do/history ] </onlyinclude>
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*Launch SBA One, a program designed to increase loan efficiency process
 
*Launch SBA One, a program designed to increase loan efficiency process
 
*Allocates $3 million towards "idea lab" which will help adopt private sector best practices
 
*Allocates $3 million towards "idea lab" which will help adopt private sector best practices
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For further detail, see [[SBA Budget Graphs]].
 
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==Criticisms==
 
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The most prevalent criticisms of the SBA include [http://www.cato.org/publications/congressional-testimony/waste-fraud-abuse-small-business-administration-programs| ]:
 
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#Creates uneven playing field by aiding some businesses while denying aid to others, thus distorting markets;
 
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#Duplicating activities already provided in private markets;
 
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#Harms businesses and consumers;
 
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#Government intervention in deciding market trends can often bet on the wrong companies at taxpayer expense;
 
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#SBA fosters corruption.
 
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Specifically,
 
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*GAO released Report 10-108 which found that failing to hold firms accountable sent a message to the contracting community that there is no punishment or consequences for committing fraud. See [http://www.gao.gov/new.items/d10108.pdf| the report] for more information.
 
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*The SBA has difficulty in [[SBA Lender and Loan Oversight]].
 
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*The CATO Institute argues that the very conception of the SBA was a bad idea, questioning the federal government's strategy in intervening in the credit market. They say that the United States grew to be an economic powerhouse with a small centralized federal government that largely left business development to the private sector. For more information about the CATO institute's criticism, see this [http://www.cato.org/publications/congressional-testimony/waste-fraud-abuse-small-business-administration-programs| article].
 
  
 
==Literature==
 
==Literature==
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===SBIR===
 
===SBIR===
 
*[http://www.gao.gov/assets/670/669651.pdf GAO report finds SBIR data reporting inadequate]
 
*[http://www.gao.gov/assets/670/669651.pdf GAO report finds SBIR data reporting inadequate]
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[[Category: Internal]]
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[[Internal Classification: Legacy| ]]
  
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==McNair Center Internal==
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[[Category:Small Business]]
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[[McNair Center-specific courses of further action regarding SBA]]
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[[Category:Entrepreneurship Policy]]
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===Articles===
 
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[[SBA and Data Reporting]]
 

Latest revision as of 10:34, 27 March 2017

About

Created in 1953 as an independent agency of the federal government, the Small Business Administration (SBA) has two strategic goals: first, growing businesses and creating jobs, and second, to serve as the voice for Small Business. SBA claims that the core of their entrepreneurial development is the foundation of targeted, effective advising, training, and mentoring services to drive business. Their entrepreneurial development performance goal focuses on driving greater participation in the resource partner advising and mentoring programs and training courses. The SBA primarily offers a range of financial assistance programs for small businesses that may have trouble qualifying for a traditional bank loan. The SBA guarantees $65 million in loans to small businesses through its two major loan programs, 7(a) and 504. Follow this link for a list of the major SBA Loans. SBA's programs also include financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. SBA also provides loans to victims of natural disasters and specialized advice and assistance in international trade. [1]

Agencies affiliated with the SBA include: Small Business Investment Company (SBIC), Small Business Innovation Research (SBIR), and Small Business Development Centers (SBDC).

Contact

Answer desk: answerdesk@sba.gov

Houston office: houston@sba.gov

Office of Chief Information Officer: (202-205-6708)

Office of Performance Management and the Chief Financial Officer: (202-205-6449)

FY 2016 Entrepreneurship Goals

  • Broad goal: Strengthen entrepreneurial ecosystems through a variety of strategic partnerships to provide tailored training, mentoring, and advising services that support entrepreneurs during every phase of their business growth.
  • Performance goal: reach 1.4 million clients with online and in-person training, mentoring, and advising in FY 2016.
  • Programs offered: Small Business Development Centers, Women's Business Centers, SCORE, Learning Center, Boots to Business, Regional Innovation Clusters, Entrepreneurship Education, Emerging Leaders
  • Strategies:
  1. Harness SBA's nationwide network of resource partners
  2. Improve entrepreneurial ecosystems through cross-agency and public-private partnerships
  3. Offer tailored training through structured programs and online access

Budget

SBA's total budget request for FY 2016 (including Stafford Act Disaster funding) is $860 million. Of this amount, $3.3 million is for business loan subsidy, $19.9 million for the Office of the Inspector General and $9.1 million for the Office of Advocacy. This total is inclusive of $28 million for administering non-Stafford Act disasters. FY16 Budget Highlights

Some 2016 budget reforms include:

  • Launch SBA One, a program designed to increase loan efficiency process
  • Allocates $3 million towards "idea lab" which will help adopt private sector best practices

Literature

SBIC

SBIR

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