Winter Newsletter

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South Dakota District Office  -  Winter 2017

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Looking to Rent or Lease Commercial Property? Do you need to move or expand? Are you going from online to Brick and Mortar? 

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Join us for a FREE Small Business Commercial Real Estate class on November 16 at 2:30pm at Zeal Center for Entrepreneurship in Sioux Falls. You will learn how to rent property; what are different types of buildings and lease structures; protecting your assets; understand the lease process, develop a letter of intent and much more!

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Small Business Saturday November 25 #ShopLocal #DineLocal

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Join us in support of the eighth annual Small Business Saturday on Saturday, November 25, 2017!

Founded by American Express in 2010 and officially cosponsored by SBA since 2015, Small Business Saturday has become an important part of how many small businesses launch their busiest shopping season. According to the 2016 Small Business Saturday Consumer Insights Survey, more than 112 million consumers reported shopping at a small business on Small Business Saturday, a 13% increase over the previous year. The same survey reported that more than 72% of consumers are now aware of the Small Business Saturday initiative.



SBA Now Accepting 2018 National Small Business Week Awards Nominations

The U.S. Small Business Administration is now accepting nominations for its 2018 National Small Business Week Awards.  Since 1963, National Small Business Week has recognized the outstanding achievements of America’s small businesses for their contributions to their local communities, and to our nation’s economy.

 The SBA’s South Dakota District Office is currently accepting nominations for several award categories including:

·       Small Business Person of the Year

·       Small Business Exporter of the Year

·       Family-Owned Small Business of the Year

·       Home-Based Small Business of the Year

·       Minority-Owned Small Business of the Year

·       Veteran-Owned Small Business of the Year

·       Women-Owned Small Business of the Year

·       Young Entrepreneur of the Year

 The South Dakota District Office is also looking for nominations for their SBA Champion Awards which include:

·       Financial Services Advocate

·       Minority Advocate

·       Small Business Advocate

 Nominations can be submitted by almost any entity, including the business owner themselves.  

 The dedicated website www.sba.gov/nsbw/awards will provide forms, criteria and guidelines for submitting a nomination.

 All nominations must be submitted no later than 3 p.m. EST, Tuesday, Jan. 9, 2018.   All nomination packages may only be hand delivered or mailed to an SBA Office. Email submissions of SBA Awards forms will not be accepted as they contain personally identifiable information (PII).   For more information, contact the SBA’s South Dakota District Office Small Business Week Coordinator at (605) 330-4243.


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The Retreat of the Rural Entrepreneur

Rural America has historically had a higher rate of entrepreneurship than urban and suburban areas. But the rural lead is shrinking. A new report by the SBA Office of Advocacy tracks these shifts over nearly 30 years. The report, “The Retreat of the Rural Entrepreneur,” tracks self-employment data from the U.S Census Bureau’s Current Population Survey. According to the author, Daniel Wilmoth, “In 1988, more than 1 in 4 self-employed workers lived in a rural area, but, by 2016, that had fallen to less than 1 in 6.”

 

According to the report, the decline was driven by two factors: a shift of the working-age population away from rural areas and a decrease in the rate of rural self-employment.

New businesses are important sources of new jobs and new products, but entrepreneurship has been declining in the United States. The patterns that emerge in this report suggest that changes in rural areas may be contributing to the decline. Policies facilitating the economic development of rural areas could be an effective tool for reversing the decline.

 

The challenges facing rural America are the focus of a recent Executive Order, Promoting Agriculture and Rural Prosperity in America, which was issued in April and established a task force led by the U.S. Department of Agriculture. The Small Business Administration is one of 22 participating federal agencies. 


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