SBA Teaches ABCs of Small Business

April 20th, 2017

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While an innovative idea might be where a small business owner starts, it often takes some education to successfully launch a new venture.

Small businesses are the engine of economic growth, moving our economy forward through innovation and job creation. They comprise 99.9 percent of U.S. firms and are responsible for creating 63 percent of net new private-sector jobs, according to the U.S. Small Business Administration.

In honor of the SBA’s Financial Capability Month in April, we’re highlighting an array of SBA resources available to entrepreneurs who are starting or growing a business.

Get a jump start. If your business is still in the planning stages, the SBA offers a wealth of online resources. You can learn about how to write a business plan, apply for licenses and permits, and file and pay taxes.

Explore financing options. This 30-minute self-paced exercise will educate you on financing options for your business. Topics include determining your financial needs, loans, grants, venture capital, angel investors and crowd funding, and other financial options available to small businesses.

Through Sept. 30, 2017, the SBA is waiving the guarantee fee on loans up to $150,000. In addition, Zions Bank is waiving its packaging fee on SBA loans up to $35,000, also through Sept. 30. Zions has been the top SBA lender in Idaho for 15 consecutive years and in Utah for 23 consecutive years.

Enroll in a free webinar. On April 25, SCORE will host a live webinar, “Don’t Let Marketing Bite You: 4 Ways to Reach More Customers,” which will cover how to:

  • Reach new customers using Facebook
  • Attract more web traffic and increase online sales
  • Cost-effectively reach existing customers
  • Use free online listings to get found locally

Take calculated risks. Every small business starts with taking a risk, according to SBA Administrator Linda McMahon. “Whether it is our money or time or the security of working for someone else, we put ourselves on the line when we pursue our goals,” McMahon wrote in a column about her experience representing the SBA on a White House panel about empowering women during Women’s History Month. “When that risk succeeds…simply put, it’s empowering.”

Additional information is available at Zions Bank’s Online Business Resource Center.

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