Many find the idea of running a small business appealing, but they lose their motivation after realizing, as they develop their business plans, talk with investors, and research the legal issues associated with start-ups, that it can be a big risk. For those disheartened by such risky undertakings, buying an existing business is often a simpler and safer alternative. (more…)
Monthly Archives: October 2014
The U.S. Small Business Administration Richmond District Office’s online portal is open and ready to accept nominations for the 2015 Small Business Person of the Year.
“This year we have reduced the number of awards to only Small Business Person of the Year,” said SBA’s Richmond District Director Carl Knoblock. “This award has shown in the past the biggest return on investment to the business.”
Small Business Person of the Year is a highly competitive award that recognizes a successful small business. Criteria are based on staying power, growth, financial performance, innovativeness, response to adversity, and community involvement. Any individual or organization dedicated to the support of the small business community may nominate a business for this award. Submission guidelines and additional information and can be downloaded on the dedicated web portal at http://awards.sba.gov.
In addition to the district award, business may be nominated including self-nominations to compete in National SBA Awards recognized during National Small Business Week. The categories of awards include the following:
- Phoenix Awards (recognizing outstanding accomplishments during disaster recovery)
- Small Business Prime Contractor of the Year
- Small Business Subcontractor of the Year
- The Dwight D. Eisenhower Award for Excellence (recognizes large prime contractors who have used small businesses as suppliers and contractors)
- SBA 8(a) Graduate of the Year (for recent graduates of the SBA’s 8(a) Business Development Program)
- Exporter of the Year
- Small Business Development Center (SBDC)Excellence and Innovation Award (nominations of SBA-funded SBDC Service Centers)
- Women’s Business Center (WBCs) of Excellence Award (nominations of SBA-funded WBCs)
- Veterans Business Outreach Center Excellence in Service Award (nominations of SBA-funded Veterans Business Outreach Centers)
- Small Business Investment Company of the Year
Nominations can be submitted online, postmarked or hand delivered to the SBA no later than 3 p.m. EST, Monday, Jan. 5, 2015. In addition to the portal, nominations can also be sent directly to SBA’s Richmond District Office located at 400 N. 8th Street, Suite 1150, Richmond, Va. 23219. For contact information and other District Office information visit online at www.sba.gov/va or call Matthew Nowak at 804-253-9088.
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. For over 50 years, SBA will continue its tradition in honoring the nation’s 28 million small businesses.
It is important to understand the different types of business structures that exist. This is just a quick synopsis, but it is highly recommended that you continue conducting more in depth research and speak with your business attorney before determining the type of legal structure your business should fall under. (more…)
This is the final part of our initial Becoming an Entrepreneur series. As a quick recap, we have discussed the questions you should ask yourself before deciding to become an entrepreneur and the most common reasons why small businesses fail. If you still believe you have what it takes to become an entrepreneur – Congratulations, it’s time to get to work! So now the next question is what type of business do you start? Here are five things you should consider when deciding on the type of path you want to choose. (more…)