how the sba can help you manage and grow your business
the agency doesn t just help people start and launch their own businesses it also has resources available to help manage and grow them you can learn valuable tips and tricks on how to manage your finances hire employees and pay taxes other important information includes staying compliant how tos for purchasing assets and marketing and sales strategies 14because cybersecurity is a key threat to many businesses the sba also provides some common sense tips to stay safe this section can help business owners spot some of the most common scams such as malware and ransomware and understand and assess their risk they can also use some of the agency s best practices to avoid cyber attacks and access sba training and events 15this section also deals with hiring people with disabilities what to do when you must close your business and how to recover from disasters 14it isn t enough just to learn how to start and run your business which is why the sba also has resources to help you grow some of the aids in this section cover how to access additional funding how to expand and what to expect from mergers and acquisitions m a 16part of the sba s mandate is to guarantee a certain percentage of federal contracts to small business owners as such the agency encourages businesses to become federal contractors and has an easy registration process 17 you can also get the resources you need to improve your bottom line via connecting with partners to help export your products and services 16you ll also find useful information about different types of businesses such as those owned by women native americans veterans minorities and members of the lgbtq community as well as rural businesses 16the history of the sbathe sba was established by president dwight eisenhower when he signed the small business act in the summer of 1953 it replaced the reconstruction finance corporation rfc which was created under president herbert hoover in 1932 after the great depression the mandate of the newly formed sba was to aid and protect the country s small businesses and ensure that they received a fair portion of government contracts and surplus property sales 1the sba has had a rocky history in 1996 the agency was under threat of being eliminated by the house of representatives 18 however the agency survived this threat and went on to receive a record budget in 2000 19 there was also a lot of resistance to its loan program which led to repeated cuts between 2001 and 2004 that s when certain sba expenditures were frozen altogether 20small business owners were among some of the hardest hit during the covid 19 pandemic the sba helped these owners providing them with two different types of funding 21