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Established Businesses and Growth


  • Submitted on 03 December 2014

    Created on December 3, 2014
     

    Holiday ShoppingLocally-owned small retailers can earn 50 percent or more of total annual sales during the critical holiday shopping period between Black Friday and New Year’s Day. The business choices made during this important period can have direct effects on a small firm’s cash flow for the entire year. The SBA surveyed several business counselors from the Colorado Small Business Development Centers and SCORE to compile this list of the top six hurdles small retailers face during the busy holiday shopping season.

    Lack of inventory control. Inventory control is crucial for all small retailers, especially during the busy holiday sales months. It is important to remember that inventory equals profits, and knowing how much product to order, when to order it, and what items to order can make the difference between having cash in the bank or aging inventory on the shelves.

  • Submitted on 18 September 2014

    Created on September 9, 2014
     

    The U.S. Small Business Administration published two proposed rules to revise small business size standards in North American Industry Classification System (NAICS) Sector 31-33 (Manufacturing) and industries with employee-based size standards that are not a part of NAICS Sector 31-33, Sector 42 (Wholesale Trade), and Sector 44-45 (Retail Trade).  The proposed rules were published in the Federal Register today. 

    As part of its comprehensive size standards review required by the Small Business Jobs Act of 2010, the SBA evaluated employee-based size standards for all 364 industries in NAICS Sector 31-33 and 57 industries and five exceptions that are not in NAICS Sectors 31-33, 42, or 44‑45 to determine whether they should be retained or revised.

    In the first rule, SBA proposes to increase size standards for 209 industries in Sector 31-33.  The SBA also proposes to increase the refining capacity component of the Petroleum Refiners (NAICS 324110) size standard to 200,000 barrels per calendar day total capacity for businesses that are primarily engaged in petroleum refining.  The proposed rule also eliminates the requirement that 90 percent of a refiner’s output being delivered should be refined by the bidder. 

  • Submitted on 12 September 2014

    The Department of Commerce announces the renewal of the Manufacturing Council (Council) and is currently seeking applications for appointment of up to 30 members of the Council for a two-year term to begin in December 2014. The Council advise the Secretary of Commerce on policies and programs that affect manufacturing, provide a forum to discuss and propose solutions to industry related problems, and ensure that the U.S. remains the top world destination for manufacturing in the world.

  • Submitted on 20 May 2014

    Created on May 20, 2014
     

    Wholesale Trade IndustryThe U.S. Small Business Administration has proposed increasing small business size standards affecting businesses in 46 industries in North American Industry Classification System (NAICS) Sector 42, Wholesale Trade, and in one industry in Sector 44-45, Retail Trade.  If they are adopted, nearly 4,000 more firms will become eligible for SBA’s loan programs.  The proposed rule was published in the Federal Register today.  

    The proposed size standards would define the maximum number of employees a firm in these industries could have and still be a small business.  The proposed revisions reflect changes in marketplace conditions.

    SBA proposed to retain the current size standards for the remaining industries in those sectors.  SBA reviewed all of the employee-based size standards for both sectors to determine whether the size standards should be revised or retained. 

    The SBA has also proposed to retain the current 500-employee size standard for federal procurement of supplies under its non-manufacturer rule because Wholesale Trade and Retail Trade NAICS codes and their small business size standards cannot be used for procurement of supplies.  These proposed revisions primarily affect eligibility for SBA’s financial assistance programs. 

  • Submitted on 06 May 2014

    National Small Business WeekAs part of National Small Business Week, the U.S. Small Business Administration (SBA) and co-sponsors will be hosting numerous training webinars and online events from May 12-15.  

    Making It Big: Small Biz Success in a Mobile World

    When: 9 a.m. (EDT), Wednesday, May 14

    Online:  View live online at www.sba.gov/smallbusinessweek 

  • Submitted on 31 January 2014

    Created on January 31, 2014
     

    Emerging LeadersWhat is Emerging Leaders?

    The Emerging Leaders is an intensive training initiative to accelerate high-potential small businesses’ growth in America’s inner-cities. This comprehensive curriculum provides the tools to catapult participating companies to the next level and help them emerge as growing, self-sustaining businesses in their community.

    What does the Emerging Leaders advanced training entail?

    Over seven months, participants are required to participate in approximately 60-80 hours of classroom instruction, generally two three-hour sessions per month. The method used is primarily instructor-facilitated discussion of the training curriculum. Outside subject matter experts are included as guest speakers to bring a “real world” perspective. Additionally, class participants meet and work in smaller CEO Peer Mentoring Groups for an additional 15-20 hours during the training period.

  • Submitted on 30 January 2014

    Created on January 30, 2014
     

    Baldrige Performance Excellence ProgramThis post originally appeared on NIST Baldrige Award.

    Applications are now being accepted for the 2014 Malcolm Baldrige National Quality Award, the nation’s highest Presidential honor for performance excellence. Organizations can apply for awards in three business sectors—manufacturing, small business and service—along with health care, education and nonprofit (including government agencies).

    Forms and guidance for applying for the 2014 Baldrige Award are now available from the Baldrige Performance Excellence Program (BPEP) at www.nist.gov/baldrige/enter/how_to_apply.cfm.

    All applicants will be evaluated rigorously by an independent board of examiners in seven areas defined by the Baldrige Criteria for Performance Excellence: leadership; strategic planning; customer focus; measurement, analysis and knowledge management; workforce focus; operations focus; and results. To purchase the 2013-2014 Criteria, go to www.nist.gov/baldrige/publications/criteria.cfm.

  • Submitted on 22 January 2014

    Created on January 22, 2014
     

    CrowdFundingOn October 23, 2013 the Securities and Exchange Commission (SEC) voted unanimously to propose rules under the JOBS Act to permit companies to offer and sell securities through crowdfunding.

    Crowdfunding describes an evolving method of raising capital that has been used outside of the securities arena to raise funds through the Internet for a variety of projects ranging from innovative product ideas to artistic endeavors like movies or music.  Title III of the JOBS Act created an exemption under the securities laws so that this type of funding method can be easily used to offer and sell securities as well.  The JOBS Act also established the foundation for a regulatory structure for this funding method. 

    SEC Chair Mary Jo White noted that the intent of the JOBS Act is to make it easier for startups and small businesses to raise capital from a wide range of potential investors and provide additional investment opportunities for investors. 

  • Submitted on 17 January 2014

    Created on January 17, 2014
     

    NetworkingOne of the most effective ways to grow your business is also one of the oldest: networking. While it may not get as much buzz these days as social networking sites like Facebook and Twitter, old-fashioned, face-to-face networking is still essential for building a business.

    Networking Success

    When we think of networking often times images of happy hour, spending an inordinate amount of time in the evenings at a restaurant or office building with a whole lot of chit chat that may yield little to no business at all.  While this type of activity can seem tiresome and unnecessary, it can be a great way to get your business off the ground.  This simple, cost-effective (sometimes FREE) way of advertising is a means of getting the word out about your business.

    » Read More on Networking Success

  • Submitted on 13 January 2014

    The U.S. Small Business Administration will present Not Just Contracts: The SBA’s 8(a) Business Development Program, the first of a free, two-part webinar series on Jan.15 at 2 p.m. EST.  The second webinar will be held Jan. 22 at 2 p.m. ET.

    The hour-long webinars will cover:

    • Eligibility requirements for 8(a) certification

    • Technical assistance available through the 8(a) Program

    • Common misconceptions about the 8(a) Program

    • The top reasons why an 8(a) application is declined or returned 

    The first webinar will focus on how the 8(a) Program works, eligibility requirements, technical assistance available to small disadvantaged businesses and common myths about the program.

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