Did you know that women and people of color are underrepresented when it comes to business ownership? If you are in the process of opening or expanding a minority-owned business, or if you have ever thought about doing so, listen up. The United States Small Business Administration has several resources that may be helpful.
Although business ownership can come with a number of challenges, and there are many that are unique to businesses owned by underrepresented demographics, SBA assistance can help minority business owners to overcome some of the additional obstacles. Consider these four such resources.
- Funding Programs To Help Cover the Financial Costs
Depending on where you are in the stages of putting together your idea or expanding it, you may benefit by applying for one of the SBA’s various funding programs that are specifically intended to help minority business owners.
- Certifications and Business Programs To Expand Your Business Experience
Another priceless SBA resource that can be extremely helpful for minority-owned business startups is the abundance of certifications and other business programs that entrepreneurs can leverage to expand their business experience.
- Small Business Administration To Provide Telephone Support for Detailed Inquiries
If you are someone who likes to talk to another human about your confusion understanding something, then one resource that you might particularly appreciate is the phone support option that SBA also offers. When you cannot figure something out about your business questions, you can always call up the SBA support line to see if they can offer some insight.
- Counseling and Training To Further Your Education
For those starting any business, the learning curve can sometimes be steep. Even if you have prior entrepreneurial experience, laws constantly change and learning the ins and outs of starting your own business venture can require a significant amount of new knowledge. As such, another great SBA resource for your minority-owned business is all of the counseling and training that the agency also provides.
- Disaster Recovery Can Help You Move Forward During Difficult Times
Disaster can happen anywhere at any time to anyone. With that said, however, those living in communities abundant with minority-owned businesses often suffer the most as the result of delayed funding and FEMA assistance. This is another area the SBA can assist business owners with.
At the end of the day, the US needs more minority-owned businesses. The only way that will happen is if more entrepreneurs start following their dreams. If this sounds like you, these four SBA resources can help.