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*Growthology (Kauffman) : http://www.kauffman.org/blogs/growthology
[[Blog Post]]
===McNair Center Internal===
[[McNair Center-specific courses of further action regarding SBA]]
Small Business Research (view source)
Revision as of 13:39, 21 September 2020
, 13:39, 21 September 2020no edit summary
{{Project|Has project output=SummaryContent|Has sponsor=McNair CenterSmall 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|Has title=Small Business Administration]]. GenerallyResearch|Has owner=Jake Silberman, those criterion mean that a manufacturing business with fewer than 500 employees or a non-manufacturing business with less than $7.5 million in revenue will be considered a small business by the U.S.A. [https://www.sba.gov/contracting/getting-started-contractor/make-sure-you-meet-sba-size-standards/summary-size-standards-industry-sector ] </onlyinclude> AlternativelyDylan Dickens, the European Union defines a small business as a firm with fewer than 50 employees.[http://ec.europa.eu/growth/smes/business-friendly-environment/sme-definition/index_en.htm ] </onlyinclude> Small business are pervasive throughout the United States and other countries. Typical examples of small businesses include: freight truckersCarlin Cherry, 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.|Has project status=Tabled}}==See also==
*[[Small Business Data]]
*[[SBA Investigation (Report)]]
=='''Summary==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 [[Small Business Administration]]. Generally, those criterion mean that a manufacturing business with fewer than 500 employees or a non-manufacturing business with less than $7.5 million in revenue will be considered a small business by the U.S.A. [https://www.sba.gov/contracting/getting-started-contractor/make-sure-you-meet-sba-size-standards/summary-size-standards-industry-sector ] </onlyinclude> Alternatively, the European Union defines a small business as a firm with fewer than 50 employees.[http://ec.europa.eu/growth/smes/business-friendly-environment/sme-definition/index_en.htm ] </onlyinclude> Small business are pervasive throughout the United States and other countries. Typical examples of small businesses include: freight truckers, 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. ==The Small Business Administration'''==
{{:SBA}}
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
Office of Performance Management and the Chief Financial Officer: (202-205-6449)
===[https://www.sba.gov/sites/default/files/1-FY%202016%20CBJ%20FY%202014%20APR.PDF FY 2016 Entrepreneurship Goals]===Official Goals of the Small Business Administration
*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.
#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.
For further detail, see [[SBA Budget Graphs]].
===Criticisms===
The most prevalent criticisms of the SBA include [http://www.cato.org/publications/congressional-testimony/waste-fraud-abuse-small-business-administration-programs ]:
#Creates uneven playing field by aiding some businesses while denying aid to others, thus distorting markets;
*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].
=='''Survey Respondents on Small Business Issues'''=={| class="wikitable sortable" style="width: 100%;"|-! style="width: 5%;" | Survey! style="width: 1%;" | Date! style="width: 20%;"| Labor Markets! style="width: 20%;"| Capital ! style="width: 20%;"| Sales ! style="width: 25%;"| General Outlook! style="width: 9%;" | Data |-| [http://www.nfib.com/assets/SBET-February-2016.pdf SBET February 2016] | February 2016| *42% of businesses in the survey report few or no qualified applicants for a position that they were trying to fill|*4% of small business owners surveyed reported that company borrowing needs were not met |*11% cite weak sales as their principal business problem|*Spending and hiring plans fell as expectations for growth in real sales volumes declined|('''N=2194''', Data was obtained from membership files of the NFIB)|-| [http://newsroom.bankofamerica.com/files/press_kit/additional/Small_Business_Owner_Report_-_Fall_2015.pdf Small Business Owner report]| Fall 2015|*67% planned to hire 12+ employees within 2015|*46% of small businesses surveyed cite credit availability as their primary concern |*28% of businesses say they will use recently acquired funding to develop a new product or service within the next year|*56% say they expect the US economy to improve within the next 12 months*72% of small businesses expect their revenue to increase for the year|('''N=1,001''' small business owners inthe US with annual revenue $100,000<x<$4,999,999 and employingbetween 2<x<99 employees)|-| [https://wellsfargoworks.com/File/Index/J6WCK2WHn0yd-wrTX8btvA WellsFargo survey]|January 2016|*26% of small businesses expect to hire in Q1 2016*66% of businesses expect the number of jobs to stay the same*11% of businesses say that hiring and retaining qualified staff is their most pressing problem|*19% of businesses responded that obtaining credit was difficult*5% of say cash flow and financial stability as the company's biggest problem*4% of businesses surveyed speculate credit availability may be prohibiting company growth|*14% experienced difficulty attracting customers in Q1 2016*38% of businesses surveyed stated a positive revenue increase in Q1 2016|*67% of small businesses regard their financial situation as good or very good in Q1 2016*71% expect a positive financial future within the next 12 months *8% of small businesses say that the economy is the principal problem their business is facing |('''N=600''' small business owners in Q1 2016)|-|[http://www.vistage.com/wp-content/uploads/2016/02/WSJ-CEO-Survey-0116.pdf WSJ survey]|January 2016|*54% of businesses surveyed said they expect firm size to increase|*40% of businesses reported that they expect their firm's fixed investment expenditures to increase during the next 12 mo.|*73% report an expected sales increase within the year *54% of firms expect their profitability to improve|*Investments in new plant and equipment have fallen to their lowest level in more than two years*20% of firms expect the economy to worsen in the year ahead—the highest level in more than two years.||-|[https://www.newyorkfed.org/medialibrary/media/smallbusiness/SBCS-2014-Report.pdf NY Fed Survey]|2014|*27% of businesses reported an increase in their full time staff*15% reported a decrease in their full time staff*58% of respondents reported no change in their employee base|*23% of businesses reported 10-25K of debt*62% of businesses had applied for <100K of financing*41% responded they'd sought financing from a large regional bank |*35% of respondents reported increasing revenues and positive profitability*23% of businesses said they'd experienced difficulty in attracting customers|*29% of businesses reported personal savings as their primary financing source*29% of businesses operated at a loss *13% of respondents said the increasing costs of running their business was their principal concern| 10 states of coverage: Alabama, Connecticut,Florida, Georgia, Louisiana, New Jersey,New York, Ohio, Pennsylvania, and Tennessee with businesses <500.||} =='''Issues Facing Small Businesses'''==
===Health Care===
{{:Affordable Care Act}}
===Access to Capital===
{{:Access to Capital}}
===Patent Reform===
{{#section:Patent ReformInnovation_Policy|Patent_Reform}}
===Gender Equality=== =='''Helpful Websites'''Further Reading==
*The Small Business Administration: https://www.sba.gov/
*The Federal Reserve Board Survey of Small Business Finances: http://www.federalreserve.gov/pubs/oss/oss3/nssbftoc.htm
*Trends in Small Business: http://smallbiztrends.com/
=='''References'''==
1. http://www.gallup.com/businessjournal/186179/student-loan-debt-major-barrier-entrepreneurship.aspx
*[http://www.gao.gov/assets/670/669651.pdf GAO report finds SBIR data reporting inadequate]
===Articles===
[[Small Business Data]]
[[SBA and Data Reporting]]
[[Category:Small Business]]
