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U. S. Small Business Administration

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  • 1. U. S. Small Business Administration The AICPA has joined the U.S. Small Business Administration (SBA), an independent agency of the federal government dedicated to helping Americans start, build, and grow their small businesses. Click here(Link to Summary of AICPA-SBA Agreement.pdf) to view a summary of that agreement. As CPAs and trusted advisors assisting your clients or employers through each stage of their business life cycle, you will benefit from the strategic alliance between the SBA and AICPA when you leverage the valuable SBA library for your firm or organization and your clients. This site will continue to evolve over time, so be sure to check back for additional tools and resources to help you with your business and your small business clients. The SBA offers a myriad of tools and resources, and we’ve culled through these volumes to identify two primary categories that will serve as excellent starting places when preparing to use them internally or share them with your clients: Resources for Start-Up Businesses and Resources to Help Manage Existing Businesses. Resources for Start-Up Businesses: For those that are just getting started or thinking about starting a new business, you may consider the following resources: Small Business Planning (Link to page 3 of this document) Financing and Loans (Link to page 4 of this document) Licensing and Permits (Link to page 6 of this document) Resources to Help Manage Existing Businesses: For those organizations with established small businesses, the following tools and resources may be of benefit: Business Management, Leadership, and Human Resource Tools (Link to page 7 of this document) Using Information Technology (Link to page 8 of this document) Financial, Revenue Growth, and Loan Information (Link to page 9 of this document) Planning a Business Exit Strategy (Link to page 10 of this document) If you don’t find the tool you need in these resources, the SBA site at www.sba.gov has many other articles and tools that may cover the specific category you or your client may be seeking. If you encounter a great tool, article, or presentation on the SBA site that you feel would benefit other CPAs, their firms or organizations, or clients, please feel free to contact us at 1 (800) CPA-FIRM or e-mail us at pcps@aicpa.org. Enjoy the new benefits available to you via this important alliance with the SBA!
  • 2. DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
  • 3. Small Business Planning To start a small business, a written plan is essential to a successful journey. The SBA offers advice on how to create a business plan, what should be included, and how to use the plan effectively. • Starting a Business Readiness Assessment Determine an organization’s readiness to start a business • Free Online Courses and Podcasts Get educated about the ins and outs of starting a business using these resources • Business Planning FAQs Learn answers to the most popular business plan questions • A Business Plan: The Roadmap To Success Read the SBA's guide to developing a comprehensive business plan • Interactive Business Planner Use this step-by-step business planning tool for new or existing businesses created by the Canadian Business Resource Center • Strategic Planning Learn to strategize effectively and take a free online course • Essential Elements of a Good Business Plan Review an outline of how to write a business plan • Sample Business Plans Use examples to learn how to create a business plan • Writing The Business Plan Get detailed, step-by-step explanation to help write a plan • Business Plan Workshop Access this online workshop to help start and improve a business plan • Using The Business Plan Learn how to get the most out of a business plan • Finding a Niche Identify a corner of the market to ensure success DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
  • 4. Financing and Loans To start a new business, organizations typically require some form of financing. Below you will find links to information to help raise sufficient capital or gain financial assistance through loans or grants. The SBA provides a number of financial assistance programs and disaster assistance loans for small businesses. The links below will guide you to loan eligibility requirements, SBA’s loan programs, and other lender programs. Although the SBA does not provide grants to help start a business, their resources include organizations and sites that can assist in that purpose. General Financing and Accounting • Start-Up Costs Use the SBA calculator as a guide on the initial expenses a business will have • Financing Basics Learn the basics of how to plan to finance a business • Breakeven Analysis Understand when a business should break even and when to expect a profit • Equity Capital Learn about the pros and cons of offering stock • What's a Surety Bond? Learn what a surety bond is and if it can help a business • Learn About SBA's Surety Bond Program Read a detailed explanation about how this program operates • Handling Finances Learn about the numerous funding opportunities available • Personal vs. Business Finances Understand the importance of getting personal finances in order before starting a business • Borrowing Money Know the essentials in borrowing money and what the banker will ask • Credit Factors Explore the basic elements examined in every loan application Loan and Funding Information • Finding Capital Know how to find various sources of capital to begin a business • Small Business Investment Companies (SBIC) Program Learn about privately owned and managed investment firms that provide venture capital and startup financing to small businesses • Federal Grant Resources Review this list of federal resources that can give organizations a grant • A Guide to Grants Learn grant writing tips, requirements, and other grant facts
  • 5. • Applying For a Loan Get help in writing a loan proposal • How To Prepare a Loan Package Learn what questions owners should ask themselves in order to create the best loan package • Loan Proposals Explore tips to develop and organize a loan proposal • Loan Package Checklist Access ideas to make sure all the necessary elements are included in the loan proposal • Rejected Loan Application Information Learn why a loan application is rejected and how to correct it • SBA Loan Programs Learn which SBA program is right for an organization • Employee Trusts Get information about loans that help provide financial assistance to Employee Stock Ownership Plans (ESOPs). DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
  • 6. Licensing and Permits Organizations need to understand the city, state, and federal requirements of licensing their business and obtaining the necessary permits. • State Requirements Research your state's requirements for businesses, including permits, licenses, and registration • Federal Requirements Make sure you know the federal requirements, including specific licenses, Employer Identification Number (EIN), and registration information • Employer ID Numbers (EINs) Learn whether you need an EIN, or federal tax identification number, and how to apply • Federal Employer Identification Number (EIN) eApplication Apply for and receive a federal EIN from the Internal Revenue Service (IRS) immediately online • Exporting FAQs Get answers to questions frequently asked about the exporting business • Environmental Protection Agency (EPA) FAQs Learn answers to important questions about the EPA and how it affects businesses DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
  • 7. Business Management, Leadership, and Human Resource Tools To successfully manage a business, specific business and people management skills are required as well as knowledge of key business practices, like marketing. This section provides guidance, tools, roundtables, and resources on the basics, along with other helpful information about insurance and legal assistance. • Being a Business Leader Learn about mentoring, networking, and staying informed • Delegation Read a discussion on learning to delegate • Business Ethics Understand the foundation of a business ethics policy and take an ethics assessment • Manage Employees Get tools to help with interviewing and hiring, motivating, directing, and performance management of employees • Marketing Gain access to resources for marketing a business, including marketing planning, market research, advertising, targeting, packaging, pricing, and more • Insurance Read an overview of the types of insurance available and FAQs • Legal Concerns Learn from this guide to legal matters and where to find assistance DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
  • 8. Using Information Technology Today’s very competitive business climate demands that business owners understand and use the latest technology. Technology can help a business improve efficiencies and even expand operations. However, as you know from running your own business, the use of technology should be balanced with business needs and practicality. • Understanding The Internet Read a brief history and discussion of the Internet, including how to register a domain • Glossary of Internet Terms Learn definitions for various Internet terms • Getting on the Web Understand the benefits of getting your business on the web • eCommerce Resources Gain resources for eCommerce • Online Advertising Read the U.S. Department of Commerce's guide to the regulations of online advertising • FTC Online Advertising Regulations Access a guide to the Federal Trade Commission's rules and regulations on online advertising • eCommerce FAQs Review answers to questions commonly asked about eCommerce • TECH-Net Find innovation and research grant opportunities via this network, sponsored by the SBA DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
  • 9. Financial, Revenue Growth, and Loan Information Organizations often need money to grow their business. While capital can come from many sources, including personal savings, borrowing money from a lender is a common source of capital, as is raising equity capital from an investor. Many resources, including those below, are available to help guide a business owner to the best options for financing growth. • Financial Management Learn how to successfully manage finances in a growing business • Borrowing Money Explore what organizations should consider before borrowing money • SBA Loan Programs Identify the large range of SBA loan options for almost every type of business • Prequalification Programs Learn about the prequalification requirements organizations must meet for some programs • Microloans Read about SBA's program to give very small loans • Certified Development Company (504) Loan Program Explore SBA's program for long-term financing to a non-profit Certified Development Company to support economic growth within a community • Equity Financing Get an explanation of equity financing, including venture capitalists • Small Business Investment Companies (SBIC) Find out about SBA-approved, private-public partnerships helping small businesses succeed in today's environment • Financial Statements Understand the basics of financial statements • Samples Gain access to sample budgets, strategic plans, and reports DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.
  • 10. Planning a Business Exit Strategy When business owners are ready to exit their small business, whether through selling, merging, or simply closing their doors, the following links will provide the help they need. • Plan An Exit Procedures and forms to help plan ahead • Sell a Business Understand how and when to sell a business, and at what price • Transfer Ownership Get resources to help guide an effective succession plan • Liquidate Assets Learn how to return the most value when selling • File Bankruptcy Education for organizations before a decision to file is made • Officially Close Learn what actions to take when closing a business DISCLAIMER: This publication has not been approved, disapproved or otherwise acted upon by any senior technical committees of, and does not represent an official position of, the American Institute of Certified Public Accountants. It is distributed with the understanding that the contributing authors and editors, and the publisher, are not rendering legal, accounting, or other professional services in this publication. If legal advice or other expert assistance is required, the services of a competent professional should be sought.