The Small Business Administration (SBA) theme for the upcoming National Small Business Week is “Building a Better America through Entrepreneurship.”
Morning Washburn, Director of Strategic Alliances, SBA, has announced the schedule for the week, May 2-7, which includes a virtual summit, winner event, field office events, and a national bus tour. National Small Business Week events are free but you must register.
During a webinar on April 27, representatives from SBA partners, SCORE (Retired Executives Services Group) and the Institute for Private Public Strategies detailed SBA’s new equity business plan.
Speakers included Rhett Patel, founder of the Institute for Public and Private Strategies, SCORE Vice President of External Relations Betsy Daughert, and SBA Senior Advisor Aditi Dussault.
What is the SBA Equity Action Plan?
Battle explained that the Equity Action Plan plan aims to support the goal of Building a Better America by nurturing the small business resource community.
The community will help more disadvantaged entrepreneurs access capital, participate in government procurement and contracting opportunities, get disaster assistance, get business consulting and more.
What’s new from SCORE
As an SBA resource partner, SCORE provides guidance, business training, and commercial resources.
New from SCORE:
- Flexibility Center In response to the pandemic, SCORE will partner with business owners to help them achieve government funding, direct the focus of their business if needed, reframe marketing and address any employee issues.
- The result is for everyone To promote diversity, SCORE will promote diversity by providing specialized resources for women, veterans and minority small business owners.
Doggart said Score is a free resource funded by the federal government. She advised partnering with a mentor to get help with specific questions.
Updates from SBA
Effects of the Infrastructure and Jobs Act: Dusseau noted that the 2021 Infrastructure and Jobs Act provided $550 billion in new funding. Funding has been earmarked to improve public transportation, broadband availability, clean water, and repair of roads and bridges.
How will this affect the small business?
- Improvements to the transportation infrastructure will reduce shipping delays.
- Creating global broadband will help business owners reach new customers and boost e-commerce.
- Focusing on Minority Business Development will help small business owners learn about the resources available to them.
The continuing benefits of the US bailout / CARES Act
- Community Navigator Pilot Program – The program will focus on diverse communities to provide financial assistance and assistance with access to capital, as well as assistance with marketing, operations, export, and business development.
- Changes to Federal Made-in-America Procurement Guidelines. The new requirement is that products contain 75% of ingredients made in the US (which was 55% previously).
- Covid roadmap for the future – the approach will focus on protecting against new changes while preventing economic and educational closures and continuing to push vaccinations.