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Established Businesses and Growth


  • 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.

  • Submitted on 02 January 2014

    Created on January 2, 2014
     

    2014 Business ResolutionsLooking for New Year's resolutions for your business. No business, or business owner, is perfect, and there is always room for improvement. In case you missed it, here are 10 top articles on business resolutions to help you grow your business.

    10 small-business resolutions for the new year
    What could you do to make your small business better in 2014? Let these New Year's Resolutions from small-business owners and managers in the Shreveport, La., area inspire you to get started on a more prosperous 2014.

    11 New Year's Resolutions You Can Actually Keep
    Because after 2013, well, let's just say we all need more realistic targets this time around. What's the last New Year's resolution you actually kept? If you're better than us and have cut down on your spending, effectively managed stress, or lost ten pounds and actually used that gym membership, than you need not read any further. For the rest of us, we're going to try and make things a bit more manageable.

  • Submitted on 24 December 2013

    Created on December 24, 2013
     

    ConstructionThe U.S. Small Business Administration (SBA) issued two final rules in the Federal Register today, revising size standards for firms in two North American Industry Classification System (NAICS) sectors, namely, Utilities (Sector 22) and Construction (Sector 23).

    Size standards define the maximum size a firm can be and still be considered a small business. The revised standards reflect changes in marketplace conditions and public comments that SBA received to its earlier proposed rules. 

    New size standards will enable more businesses in these sectors to obtain or retain small business status; will give federal agencies a larger pool of small businesses from which to choose for their procurement programs; and will make more small businesses eligible for SBA’s loan programs.

  • Submitted on 05 December 2013

    Hospitality IndustryThroughout the years, the hospitality industry has grown through a series of transformations.  While many industries struggled with unemployment in 2011, new growth in the hospitality industry sparked a boom in the number of jobs created and economic opportunities. According to the Bureau of Labor Statistics the leisure / hospitality sector was second only to health care in the number of jobs created in 2011.[1]

    One key reason for this growth has been the rise of the gaming industry across the United States. Today, many states have either legalized or begun the debate to legalize casinos in their state. What was once an industry isolated in Las Vegas, NV has now expanded in some form to 38 states. As a clear sign of this growth, in 2012, the Chicagoland area is now the third largest market by revenue according to the American Gaming Association.[2]

    This rise also creates a number of economic opportunities for firms in the technology, manufacturing, and services industries. According to the American Gaming Association, “direct economic output by the gaming equipment manufacturing and technology sector rose to $13.0 billion in 2012 — an all-time high and 5.7 percent increase compared to 2011 figures. Approximately 31,200 workers were directly employed in the sector during 2012, earning $2.3 billion in salaries and wages.”[3]

    Food and beverage firms as well as hotel management firms are also in line for expanding opportunities as these segments account for approximately one third of gaming revenue.

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