National Hispanic Heritage Month
Celebrated from September 15 to October 15
By: Cassius Butts, SBA Regional Administrator
One of the Small Business Administration’s top priorities is to provide access and opportunity to small business owners in traditionally underserved communities. In fact, since 2009, SBA has supported $13.5 billion in lending to underserved small businesses. In addition, SBA has supported $100.3 billion in federal government contracting dollars to small disadvantaged firms since 2009.
In Kentucky, SBA has backed over $181 million in loans to underserved communities in Kentucky since 2009, while hundreds of millions of dollars in federal government contracts have been awarded to minority-owned firms since 2009. These amounts have grown steadily during the past four years.
SBA has joined forces with the U.S. Hispanic Chamber of Commerce (USHCC) to help support thousands of Hispanic small businesses and entrepreneurs. SBA will pilot the partnership with eight city and state Hispanic Chambers across the country. Through this collaboration, the SBA and USHCC will work to increase Hispanic-owned small business participation in SBA programs, including loan programs and access to capital, government contracting programs, access to SBA’s extensive resource partner network and international trade opportunities to achieve the goals of the President’s National Export Initiative.
In combining our efforts, we will work to increase lending to Hispanic small businesses; increase awareness of SBA programs and services among Hispanic-owned small businesses; increase participation of small Hispanic-owned businesses in SBA’s procurement programs, with a focus on women and veterans; and increase trade opportunities for small Hispanic-owned businesses.
When small businesses succeed, America succeeds, and SBA is committed to supporting our nation’s entrepreneurs, including minorities, women, veterans, people with disabilities and those in rural areas. Working together, we can build growing vibrant communities, get people back to work and ensure that we have a 21st century American economy that is built to last.
Over 300 Attend First Annual Women's Business Expo
The Women’s Business Center of Kentucky celebrated its first year of operation with the First Annual Women’s Small Business Expo and Networking Reception on August 27 – 28, 2012 in Louisville, KY. Participants were able to showcase their businesses, network with other attendees and meet procurement officers, lenders and small business service providers. There were breakout sessions by leading experts in the small business community designed to boost the business bottom line and teach best practices.
Ms. Eleanor Jordan, Executive Director with the Kentucky Commission on Women
, and Ralph Ross, SBA
Kentucky District Director, offered opening remarks.
Louisville Mayor Greg Fischer
, a successful entrepreneur, businessman and philanthropist, introduced the Luncheon Keynote Speaker, Ms. Moira Forbes
, President and Publisher of ForbesWoman.
The First Annual Women's Business Expo had over 300 attendees. The Luncheon Keynote Speaker was Moira Forbes, President and Publisher of ForbesWoman.
New SBA Web Tool Helps with Market Research
Small business owners and start-ups across the country can now take advantage of a new business tool to help them compete and grow. The free tool, called SizeUp, helps businesses identify new customers and compare their performance against other businesses in their industry with data collected from hundreds of private and public sources. The tool can be found at www.sba.gov/sizeup
“Market research and analysis is critical for the success of any small business owner or entrepreneur. Tools like SizeUp deliver data right to the fingertips of business owners to help make smart decisions and have the greatest opportunity to start, grow, compete and succeed,” said SBA Administrator Karen Mills. “In today’s challenging economic environment where small businesses create nearly all net new jobs in the U.S., help for small businesses is more important than ever before.”
SizeUp works by analyzing a business in comparison to other similar businesses in the same trade and provides geographic information on the marketplace, areas recommended for advertising, and prospective customers. This useful tech tool delivers market data directly to business owners to help them make better business decisions based on competitive research analysis.
The SizeUp tool provides data analysis in three key ways:
· Benchmarking an existing business to see how it sizes up by comparing performance to all other competitors in the same industry;
· A mapping feature to see where customers and suppliers are located; and
· Finding the best places to advertise by choosing from pre-set reports to find areas with the highest industry revenue and the most underserved markets. Custom demographic reports can also be created.
GIS Planning, Inc., the company that created SizeUp, has licensed the tool to SBA for one year. SBA’s acceptance of this product is not an endorsement of the opinions, products or services of GIS Planning, Inc.