Resources for Small Businesses
Great ideas can lead to the formation of a new company and while it is an exciting time for an individual—to take the big step of starting a business—it is also a great time to seek resources and support. When our clients need guidance to determine the best business plan for their company or options for gaining new customers, or even when looking to expand, more generally, they often ask us about various resources that are available to them.
One popular resource that we recommend to our clients is the U.S. Small Business Administration (SBA). As their website states, “The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital, and contracting expertise as the nation’s only go-to resource and voice for small businesses.” If you are working to determine your startup costs, SBA is an excellent resource. Clients often contact the SBA for guidance on managing finances, hiring employees, as well as marketing and sales. The SBA is known for offering resources to help business owners stay safe from cyber threats, as well as take preventative action to mitigate the impact of potential emergencies and disasters. Specifically, the SBA assists individuals in obtaining loans to start a business, disaster assistance, and payroll protection through the Paycheck Protection Program (offered in 2020 as a help to businesses who may have been affected by COVID-19).
We also encourage business owners to check out SCORE (Senior Corps of Retired Executives). As stated on SCORE’s website, it is “…the nation’s largest network of volunteer, expert business mentors, is dedicated to helping small businesses get off the ground, grow and achieve their goals.” SCORE offers business mentorships, online workshops, webinars, and videos. Business mentors volunteer to help individuals reach their overall business goals. Join your local Small Business Development Center (SBDC) for workshops that discuss business plans and business concepts/ideas. For marketing and promoting of your business in your jurisdiction of operation, your local Chamber of Commerce is invaluable. We often hear from clients that talking to other business owners has been at the heart of their success. The Chamber of Commerce, along with other helpful organizations, plans and hosts meetings or business mixers where entrepreneurs can learn from one another.
Female entrepreneurs often find the National Women Business Owners Corporation (NWBOC), which is a national certification program for women-owned businesses, to be a terrific organization that helps women grow their business. “After great success with the WBE (woman business enterprise) certification, NWBOC launched a program for veteran-owned businesses that embraced the same mission, focus and standards as the platform for women.”
The U.S. Department of Veterans Affairs (VA) offers something called the Direct Access Program, which provides assistance to small businesses owned by Veterans. As it states on the VA website, “The Department of Veterans Affairs (VA) Office of Small and Disadvantaged Business Utilization (OSDBU) plays a large role in ensuring that programs, services, and support resources reach the Veteran small business community. Direct Access Program (DAP) offers unique opportunities for Veteran-Owned Small Businesses (VOSBs) to build partnerships, maximize networking, and gain access to Procurement Decision Makers (PDMs) through structured, screened, and periodic events. Examples of activities which may occur at a DAP event include Business Opportunity Sessions (BOS), Networking Roundtables (NRT) and education sessions.”
Helpful resources exist for our non-US business owners, with Delaware companies. In fact, Harvard Business Services, Inc. has a very detailed link, here, that lists helpful information along these lines.
A wide variety of resources are available to small business owners around the world. Using these resources can be beneficial, and lead to the prosperous growth and success of your company.
If you have any questions or need assistance forming your Delaware company, I am happy to assist. Feel free to contact me via email at justin@delawareinc.com or I can be reached directly at 1-800-345-2677 or 1-302-645-7400 ext. 6144.
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.