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U.S. Small Business Administration

U.S. Small Business Administration. Opening Doors for Small Businesses. It’s time to grow. SBA UPDATE March 21, 2011 Gautier, MS. SBA's 2010 SBPOY. What do these corporations have in common?. They have all been helped by the Small Business Administration. SBA's Mission and Purpose.

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U.S. Small Business Administration

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  1. U.S. Small Business Administration Opening Doors for Small Businesses It’s time to grow. SBA UPDATE March 21, 2011 Gautier, MS

  2. SBA's 2010 SBPOY

  3. What do these corporationshave in common? They have all been helped by the Small Business Administration

  4. SBA's Mission and Purpose • Aid, Counsel & Assist • Protect the interests of • small business concerns • Support & champion small businesses • Disaster Assistance • Simply put -- SBA helps people get into business, stay in business, grow and succeed.

  5. SBA Highlights • Business Counseling • Lending • Contract Procurement • Agency Scorecard

  6. Women SBA Highlights (Cont.) • Veterans • Procurement Activity • New SBA Website

  7. Small Business in Mississippi • The latest U.S. Departments of Commerce and Labor Census data report that there are: • 46,437 small businesses with employees, • 185,968 self-employed persons • Estimated total of 232,405 small businesses • 47,102 women-owned businesses, including part-time firms, generated $6B in sales • 99% of MS businesses are small!

  8. BUSINESS DEVELOPMENT ASSISTANCE • Provide management and technical assistance to small business owners through resource partners • SCORE • SBDC • Women’s Business Centers • Online Assistance

  9. Growth in SBA Lending in Mississippi FY08FY09FY10FY11 (3/19) Total Loans 505 770 1,138 426 Total Dollars $126.7M $144.9M $193.3M $188.2M Increases Over Prior Year Total Loans --- 53% 44% Total Dollars --- 14% 31% Jobs Created/Retained FY 2008 4,879 FY 20095,760 FY 20107,444 FY 20113,764

  10. Temporary Higher Guaranty and Fee Elimination) • 7(a) loan guaranty increased to 90 percent • Temporary fee eliminationfor borrowers • For example, a $300,000 7(a) loan with a 90% guaranty would net a savings of $8,100 in fees ($300,000 x 90% x 3%).

  11. Temporary Higher Guaranty and Fee Elimination on 504 • Temporary fee eliminationfor both borrowers and lenders on SBA 504 loans For a typical 504 loan of about $600,000, borrower savings would equal about $9,000

  12. 2010 Small Business Job Act “New Law strengthens small businesses’ ability to compete for contracts” • Equal Treatment access federal • contracting programs • Better Playing Field for Small Business • Small Business Teaming Opportunities

  13. Scorecard Small businesses won a record $96.8 billion in federal prime contracts in Fiscal Year 2009 (Oct.1, 2008-Sept. 30, 2009), an increase of almost $ 3 billion from FY 2008, according to the U.S. Small Business Administration’s fourth annual small business procurement scorecard released 8/27/10. This dollar amount represents 21.89 percent of all federal spending – an improvement over FY2008. Additionally, performance in each of the government’s socioeconomic subcategories increased for FY2009. Small Business Goaling Summary Report http://www.sba.gov/aboutsba/sbaprograms/goals/index.html

  14. Government-Wide Performance B 94.1% • Transportation A 110.7% • Veterans Affairs A 108.1% • Small Business • Administration A 106.6% • HUD B 94.0% • DOD B 93.6%

  15. NASA C 87.2% • GSA C 87.0% • Commerce C 84.4% • Justice D 73.1% • NSF F 65.6% • OPM F 60.6% • AID F 43.8%

  16. 2010 Small Business Job Act Increased Deduction for Entrepreneurs’ Start-Up Expenses • Bill temporarily increases the amount of start-up expenditures entrepreneurs can deduct from their taxes for this year from $5,000 to $10,000 (with a phase-out threshold of $60,000 in expenditures), offering an immediate incentive for someone with a new business idea to invest in starting up a new small business.

  17. Women Procurement Program • SBA published a final rule effective February 4, 2011. Affects 83 NAICS Codes. • 51% Ownership / personal net worth < $750,000 • 5% Federal Contact Threshold • Women-Owned Small Business • website at www.sba.gov/wosb.

  18. Online Women Procurement Training • Winning Federal Contracts: A Guide for Women Entrepreneurs • Self-paced guide available at www.sba.gov/fedcontractingtraining. • Women’s Business Centers.

  19. Vets Small Business Task Force • Established April 26, 2010 by executive order of President Obama. • Coordinates federal efforts to increase & improve veteran small business development.

  20. Vets Outreach • SBA Transition Assistance Program • 800 counseled annually • SBA Dynamic Small Business Search • -- 473 Mississippi businesses profiled online • $150,000 grants provided to Veteran Business • Opportunity Centers in 10 states • Veteran and Service-Disabled Veteran-Owned Small Businesses procurement opportunities totaled $100,698,956.39 • (Source Federal Procurement Data System)

  21. Mississippi District Office “Supporting the Formation, Growth, Prosperity, and Viability of Mississippi’s small businesses.” Gulfport Branch Office – (228) 863-4449 Mississippi District Office- (601) 965-4378 Follow us at:

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