SBA District Office Newsletter | October 2020

u s small business administration
SBA Celebrates National Women's Small Business Month

October is recognized as National Women’s Small Business Month. It is time to highlight the innovative and inspiring contributions of the 1.1 million women-owned employer businesses who employ 9.4 million workers in the U.S.

“The SBA works to help more entrepreneurs start, grow and expand businesses of their own,” said David Elizondo, SBA San Antonio Deputy District director. “This month is the perfect opportunity to spotlight some of the resources the SBA offers to women such as SBA's Office of Women's Business Ownership, a network of Women's Business Centers, and federal contract opportunities to women-owned small businesses.”

WOSB Facts

The SBA’s Office of Women’s Business Ownership was established to empower female entrepreneurs through advocacy, outreach, education and support. To include several initiatives to help women secure better access to procurement opportunities.

The federal government's goal is to award at least five percent of all federal contracting dollars to women-owned small businesses each year. As of July 15, 2020, the certification process for Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged WOSBs (EDWOSBs) has changed. These updated regulations make it easier for qualified small businesses to participate in the WOSB Federal Contracting Program by improving the customer experience.

Additionally, the SBA works with several local partners to counsel, mentor, and train small businesses such as Women’s Business Centers. In our district we have the Women’s Business Center, hosted by LiftFund, located in downtown San Antonio. They provide free business advising sessions, business education workshop and trainings and a Women’s Business Accelerator

Online training is also available through an interactive program called DreamBuilder. The program introduces participants to all areas of business ownership through a carefully crafted and engaging curriculum, featured in English and Spanish. At the conclusion of the program, women leave with a business plan to start their own business or develop an existing one.


State Trade Expansion Program (STEP) 10th Anniversary

For the last decade, this innovative program has helped small businesses overcome obstacles to exporting by providing grants to cover the costs associated with entering and expanding into international markets. Since its creation in 2010, STEP has recorded over $3.8 billion in exports and awarded approximately $157 million in grants to fund export opportunities and increase the footprint of small businesses in countries all over the world.

The 2020 STEP awards provide states with resources to assist their small businesses by accessing the information and tools they need to succeed in export-related activities. STEP awards help fund exporting activities, such as participating in foreign trade missions and foreign market sales trips, obtaining services provided by the U.S. Department of Commerce, accessing expertise in designing international marketing campaigns and export trade show exhibits, participating in training workshops, and more.

Local STEP Awardee: Texas Department of Agriculture


International Women's Day

Research From Advocacy: An Investigation Of Women Business Owners, Industry Concentration, And Family Composition

According to the Census Bureau’s latest Annual Survey of Entrepreneurs (2016), there are 1,118,863  women-owned businesses with employees in the United States. Overall, 21 percent of employer businesses had majority female ownership, employing 9.4 million workers at a total annual payroll of $318 billion and amassing $1.5 trillion in total annual receipts. On average, a woman-owned firm had $1.3 million in annual sales and employed eight workers. Small businesses constitute the majority of these firms with 99.9 percent of female-owned employer businesses having fewer than 500 employees.

When starting businesses, women tend toward industries related to domestic service and men lean toward construction and repair-related industries.  This has had implications for the size and growth of their individual businesses. On average, women have run smaller operations with lower growth rates than men.  Researchers examined personal factors such as children in the home to evaluate potential reasons for differing industry distributions.

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Attracting Holiday Shoppers

The holiday shopping season is obviously crucially important for retailers. The latest report from Alignable reveals the dire circumstances many retail businesses are facing, with 69 percent predicting their fourth-quarter sales will be down, compared to last year.

  • Target Online Shoppers
  • Be Proactive, Not Reactive
  • Safety First
  • Digital Payments

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Practical Steps Toward Greater Business Resilience

If you’ve guided your small business through the Covid-19 pandemic thus far, you’ve likely learned valuable lessons about business resilience and adaptation along the way. However, even businesses that are now able to sustain a steady cash flow might be wondering how to better prepare for whatever comes next.

These practical measures can help you make fast, smart decisions to more effectively weather the remainder of the pandemic and the years to come.

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How to Grow Your Small Business with a Well-designed Loyalty Program

According to a study conducted by the Garnet group ⅕ of a brand's existing customers are responsible for 80% of its future revenue. In plain words, you don't have to look for greener pastures, if you can use relationship marketing to tend to your current one.

Customer satisfaction does not equal customer loyalty. However, with a loyalty program, you actively engage and reward customers to make repeat purchases.

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If you haven't already, be sure to follow us on Twitter! @SBA_SanAntonio 


Let us hear from you!

 

Do you have three minutes? Take SBA’s Customer Experience Feedback Survey to help us better serve you. Your feed back is valuable and will help us better determine how we can improve our services. This survey is intended for current and prospective small business owners who have interacted with an SBA office. All responses are anonymous. Thank you in advance for your time.

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Tools and Resources

"Like the dreams of successful entrepreneurs, the birth of America began as an idea stirring in the minds of our founding fathers. They were seeking freedom and the opportunity to forge their own path and to create their own destiny.  We celebrate their sacrifice and determination to build a unique country where people have the right to pursue happiness and live the American dream of owning their own business." - Justin Crossie, Region VI Administrator