February 22, 2012 - 11:04am
SBA employees had the opportunity to hear from Cathy Hughes, the founder of Radio One, who also serves as the Chair of the SBA’s Council on Underserved Communities. Hughes, who herself started Radio One with the support of an SBA loan in 1979, now runs the largest black-owned media company in the country, and in 2004 launched TV One, a national cable and satellite television network.
February 22, 2012 - 9:43am
Several blog posts on SBA.gov offer plenty of advice on how to hire, mentor, and motivate employees. We also frequently tackle the issue of dealing with difficult or disruptive employees. But what happens when you find yourself at the end of the road with no choice but to terminate an employee? What steps must you take? What does the law require? What are the employee’s rights? What should you do about employee benefits and continuing health care coverage?
February 21, 2012 - 7:34pm
Once you have established a corporation or limited liability company you will need to obtain a Federal Tax Identification Number also known as an Employer Identification Number (EIN). An EIN number is mandatory, because without one, your corporation will be ineffective for building business credit. A Federal Tax ID or EIN is the corporate equivalent to a social security number. It’s a nine-digit number assigned by the IRS to business entities operating in the U.S. in order to identify each company.
February 21, 2012 - 6:39pm
One of the lesser-known benefits of good business planning is collaboration. And it comes from the three r-words: review and revise regularly. What’s collaboration? In business it’s about dividing tasks, optimizing use of resources, sharing information, and working together. Collaboration includes agreeing about what’s supposed to happen and then making it happen. It also includes tracking and sharing information about results, understanding and sharing what went right or wrong, and agreeing on course corrections.
February 21, 2012 - 5:00pm
Earlier today, Secretary Bryson spoke to the first-ever State Department Global Business Conference during an afternoon plenary session entitled, “What the Government Can Do for Business.” He discussed his top priorities as Commerce Secretary: supporting advanced manufacturing, increasing U.S. exports, and attracting more investment to the U.S. Bryson highlighted efforts at making the Commerce Department an effective partner and resource for American businesses.Secretary Bryson focused on the Administration's jobs effort, saying "In October of last
February 21, 2012 - 3:14pm
We are tremendously excited by the recent reauthorization of the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) program. The program is an important one to small businesses, each year providing more than $2 billion of R&D funding to innovative small business across a broad range of technologies. After a long series of temporary reauthorizations, Congress voted to reauthorize the program and the President signed the bill into law on December 31, 2011.
February 21, 2012 - 12:44pm
According to a recent industry study, cyber crimes cost the global economy $388 billion annually in both direct financial losses and the value of lost time dealing with the effects of cyber crime. The study found that about 431 million adults are victims of cyber crime each year. Another recent study found that annual cyber crime costs for larger U.S. companies averaged about $5.9 million each with a 44 percent increase in the number of successful cyber attacks compared to the previous year. To help organizations better protect themselves from such
February 21, 2012 - 7:40am
Collecting sales tax is one of the most confusing aspects of transacting business – online and off! In fact, questions about sales tax are among the most frequently asked on the SBA.gov Community “Filing and Paying Taxes” discussion thread. Questions abound. When does sales tax apply? What transactions are exempt? What happens if you are selling online or to someone outside your sales tax jurisdiction? Whether you’re starting a new business or expanding into e-commerce, here’s what you need to know about your sales tax obligations: What is sales tax?
February 17, 2012 - 4:38pm
Today, SBA Deputy Administrator Marie Johns and Washington, DC Mayor Vincent Gray kicked off a new initiative – HUBDC -- to help District of Columbia small businesses participate in SBA’s HUBZone program. HUBDC is a partnership between the DC government and SBA designed to help small businesses in the District get access to federal procurement opportunities and set-asides. Today’s announcement is the first of 68 HUBZone outreach events at SBA offices throughout the country.
February 17, 2012 - 4:00pm
Manufacturing represents nearly 60% of total U.S. exports and will play a vital role in America’s economic recovery. During his State of the Union address, President Obama laid out a blueprint for an "America Built to Last." That starts with American manufacturing. And in his FY2013 budget request, the president outlined strong support for manufacturers by increasing investments in advanced manufacturing, new trade promotion efforts, and innovation. Today, the president toured the Boeing assembly facility in Everett, Washington, to