The United States is known to have a capitalist economy. The country breeds generations of entrepreneurs that come up with new and creative ways on how to lift the country’s fluctuating economy. It’s not a secret that the recession that started in 2008 has brought so many corporations to their knees. Employees have been laid off and as a result, plans were postponed until they finally get back to their feet again. It’s a very difficult time for the unemployed. But driving all the way to the cities to find new jobs would leave a dent on their budget. As a more practical solution, people have decided to start their own businesses even in their own homes. This would save them on renting a business space. They would even save on gas and daily expenses.
But it’s pretty hard to start a small business especially when you are part of the minority group or a woman entrepreneur. It is difficult to accept the fact that there’s still some discrimination happening in the business world. With this dilemma, the US government has decided to give these small companies a hand at making their own name. The SBA (Small Business Administration) is the key mover in this endeavor.
How the SBA Helps
In these hard economic times, the US government can help small businesses through the following:
1. 
1099 Reports
This is a new type of reporting mandated by the Health Care Bill. With the 1099 reporting, small businesses will have higher standards and will have a higher chance of getting a bigger client pool, including the government.
2. 
Loans
SBA helps small businesses loan money from banks. With it, the small companies could get the financial assistance that they need to move forward with their vision.
3. 
Federal contracts
Federal contracts can help small businesses once they are hired to provide products or services. There is 23% of the federal budget devoted to procuring from small businesses. If done right, small companies could benefit a lot from lucrative opportunities in government procurement.
4. 
Clear communication
With eProcurement being used, small businesses could easily communicate with the government. Agencies could be accessed through the Web or through phone so that specifications of certain products and services could be clarified.
5. 
Regulations
Regulations and rules set by the government may be complicated at first but they are needed to make sure that the small companies could meet the standards of the government agencies that need their products and services.
But even if the federal government has established certain steps to assist small companies, there is always room for more improvement. More cooperation should be extended by banks when the small businesses apply for a loan with the help of SBA. If these banks lower their demands, the small businesses could finally get loans faster. The government aims to help small businesses in rising above the recession. Government agencies are willing to provide contracts to small companies who deserve to be given a chance in proving themselves as credible providers.
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