Intro to Business › Section E · Entrepreneurship and small business › Topic E.6
Small business impact and the SBA
Being small brings real advantages, such as speed, focus and personal service, and real handicaps, such as thin finances and heavy paperwork. The US Small Business Administration exists to narrow those handicaps through loan guarantees, advice and a fair share of government contracts.
In this topic
- Why small businesses keep appearing
- The advantages of staying small
- The disadvantages of being small
- Worked example: compliance cost per worker
- The Small Business Administration
- Loan guarantees, not usually direct loans
- Worked example: how a guarantee shares risk
- Advice, training and contracts
- Common mistakes to avoid
- Key takeaways
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