The Small Business Administration Essay

The Small Business Administration Essay

Length: 792 words (2.3 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

The Small Business Administration is one of the first resources that come to mind for many small business owners looking for guidance or help. And for good reason, since the promise of government-backed loans and free advice sounds like a pretty good deal.

Having run multiple startups and grown them to become multi-million dollar entities, however, I can tell you that the guidance provided by the SBA just barely scratches the surface of what business owners and entrepreneurs need to know to be successful. To add insult to injury, most small businesses are denied SBA loans, and according to data published earlier this month, the SBA is continuing to cut back on their government-backed loans to small businesses. In other words, the SBA means well, but the resources they provide leave much to be desired.

So how are small business owners and aspiring entrepreneurs like us supposed to carry on? The good news is that there is a wealth of information and lessons to be learned from entrepreneurs that have actually been in the trenches and run their own businesses. Below are five things that the SBA was never able to teach me, but are critical lessons for any entrepreneur:

Most small businesses don’t fail due to lack of money. No, that is not a typo. While it is true that most small businesses fail, it is not true that lack of money is the root cause of most failures. Instead, running out of cash is typically a symptom of deeper problems. I started my last companies with literally $0 down, no business loans, and no outside investors, but I was able to turn it into a company that generates tens of millions of dollars per year. While securing a loan to start up your company would be nice, the reality is that it is more important to develo...


... middle of paper ...


...ses out there. Even though the SBA provides high-level small business training courses that don’t adequately prepare you for all the things you need to know to run your business, the good news is that there are other options out there. Whether you are looking for small business marketing and sales advice, tips to manage your finance and accounting, or proven methods for managing employees, look for training courses that are proven, practical, and provide an actionable framework that you can apply to your small business right away.

To be fair, the SBA isn’t the only organization that falls short of its goal of helping small business owners. Small business coaches, flavor of the month startup tips, and even mass media magazine articles do little to provide tangible and actionable steps to help people like you to successfully start, manage, and grow your small business.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Small Business Administration ( Sba ) Essay

- In the United States, small businesses play a vital role in building the economy. Today, there are over 28 million small businesses in America. What exactly is considered to be a small business. Initially, the Small Business Administration (SBA) deemed any manufacturer with 250 employees or less to be a small business, but today it considers companies with fewer than 500 employees to be small. Today’s marketplace is an excellent opportunity for the budding entrepreneur. Today’s small business owner has a wealth of opportunities to help him/her gain economic success in today’s marketplace....   [tags: Business, Small business, Management]

Strong Essays
1516 words (4.3 pages)

The Small Business Administration Essay

- The Small Business Administration is one of the first resources that come to mind for many small business owners looking for guidance or help. And for good reason, since the promise of government-backed loans and free advice sounds like a pretty good deal. Having run multiple startups and grown them to become multi-million dollar entities, however, I can tell you that the guidance provided by the SBA just barely scratches the surface of what business owners and entrepreneurs need to know to be successful....   [tags: Business, Small business, Entrepreneurship]

Strong Essays
792 words (2.3 pages)

The Small Business Administration (SBA) Essay

- ... The Small Business Association has three goals that they want to accomplish by the end of 2016. The first goal is, “growing businesses and creating jobs.” The second goal is, “building an SBA that meets the need of today’s and tomorrow’s small businesses,” and the third and final goal is, “serving as the voice for a small business.” Their goals are very doable and are not impossible to do if they really try hard and work their best. Money can not easily be handed over to someone, especially when they are starting a business and they need as much as they can get....   [tags: assistance, goals, money]

Strong Essays
820 words (2.3 pages)

The Small Business Administration (SBA) Essay

- The Small Business Administration (SBA) In July of 1953 the United States Congress amended an act called the Small Business Act. Many believed that the essence of the American economic system of private enterprise is free competition. Also, that only through full and free competition can free markets, free entry into business, and opportunities for expression and growth of personal initiative and individual judgment can be assured. Thus, the Small Business Act was amended. In order to carry out the policies of this Act there was hereby created an agency under the name "Small Business Administration"....   [tags: GCSE Business Marketing Coursework]

Strong Essays
1653 words (4.7 pages)

Essay on Advisories for Small Business Administration Counseling

- Advisories for Small Business Administration Counseling • Advisory One A general partnership between the doctors in the group is the type of business ownership that should be recommended in this case. This ownership plan leaves the partnership open to additional members and allows all the members to manage and share equally in any profits. (Ebert et al, 2005) This ownership plan is often utilized by professionals, such and doctors and lawyers, and its advantages include few legal regulations beyond drawing a partnership document and that it will be more likely for the partnership to get loans and funds than a sole proprietorship....   [tags: Free Essay Writer]

Strong Essays
637 words (1.8 pages)

The Federal Small Business Administration 's Economic Injury Disaster Loan Fund

- In response to greater demand, other nonprofits expanded outreach programs to help homeless individuals, throughout the city, who couldn’t get help from the government due to city and state budget cuts, through shelters and employment programs. In addition, The Federal Small Business Administration’s Economic Injury Disaster Loan Fund had provided emergency loans to many small businesses that were severely impacted by the disaster, including retail and service that depend on tourism, and restricted from the government’s initial cash assistance because it was provided to businesses that were located in Lower Manhattan only....   [tags: Hurricane Katrina, Louisiana]

Strong Essays
1410 words (4 pages)

Financing the Purchase of a Website - The Small Business Administration (SBA)

- Financing the Purchase of a Website - The Small Business Administration (SBA) Reprinted with permission of VotanWeb.com One of the Small Business Administration's primary objectives is to help small businesses obtain financing. Although the SBA itself does not make direct loans, it has set up a number of loan programs to assist small businesses. In connection with most of these programs, the SBA provides guarantees to the private sector lenders who actually make the loans. With this guaranty in place, these lenders will generally make loans for the purchase of websites that they would not otherwise make....   [tags: Sell Websites Buy Websites]

Free Essays
765 words (2.2 pages)

Business Administration Office Of Advocacy Essay

- As the retail industry continues to be one of the fastest evolving industries today, retail business is becoming more competitive than ever. One of the biggest concerns surrounding this industry is the size of the businesses: how can businesses keep creativity and stand out amongst another. Various large retail establishments, known as “big boxes,” and small quaint boutiques are battling each other to be the store that comes out with a competitive advantage. According to the Small Business Administration Office of Advocacy, a small business is “an independent business having fewer than 500 employees,” making large “big box” businesses all establishments with greater than 500 employees (SBA F...   [tags: Small business, Business, Retailing, Sales]

Strong Essays
1026 words (2.9 pages)

Essay on Small Business Management

- Essay Plan 1 Definition of smaller enterprises There are various definitions of smaller enterprises provided from different times and areas. One of the earliest definitions was provided by Bolton Report (1971), which has indicated that a small enterprise should meet three criteria: independent (not part of a larger enterprise); managed in a personalized manner(simple management structure); relatively small share of the market(the enterprise is a price ‘taker’ rather than price ‘maker’). There are also quantitative definition of the smaller enterprise in terms of measurement of the assets, turnover, profitability and employment from different sectors and countries (Bolton, 1971)....   [tags: Business Administration]

Strong Essays
1533 words (4.4 pages)

Business Strategies For Small Business Owners Essay examples

- Problem Statement In the United States, there are over 18,000 companies with revenues of $35 billion combined. Most of this revenue is from companies that have over 60 accounting firms. The profitability of these firms depends on the market (First Research, 2014). In reviewing the literature on Small business owners, I would say that the business strategies are different in large companies than small business owners. Specifically, financial planners are trained to provide planning services. The training is rigorous and focused on technical expertise but does not include marketing techniques or business operations....   [tags: Small business, Business, Management]

Strong Essays
1246 words (3.6 pages)