SBA National Small Business Week Focus on Building a Better America

The Small Business Administration (SBA) theme for the upcoming National Small Business Week is “Building a Better America Through Entrepreneurship.”

SBA Director of Strategic Partnerships Morning Washburn announced the schedule for the week, May 2-7, which includes a virtual summit, winners’ event, field office events and a national bus tour . National Small Business Week events are free, but you must register.

During a webinar on April 27, representatives from SBA partners SCORE (Service Corps of Retired Executives) and the Institute for Public and Private Strategies detailed the SBA’s new Equity Action Plan.

The presenters were Rhett Buttle, founder of the Public-Private Strategies Institute, Betsy Douget, vice president of external relations for SCORE, and Aditi Dussault, SBA senior counsel.

What is the SBA Equity Action Plan?

Buttle explained that the Equity Action Plan is to support the goal of Building a Better America by fostering a community of resources for small businesses.

The community will help more underserved entrepreneurs access capital, participate in government procurement and contracting opportunities, obtain disaster assistance, obtain business advice and more.

SCORE News

As a resource partner of the SBA, SCORE provides mentoring, business training, and business resources.

New from SCORE:

• Resilience Center – In response to the pandemic, SCORE will partner with business owners to help them secure government funding, change their business approach if needed, rework marketing, and address any employee issues.
• SCORE for everyone – To foster diversity, SCORE will foster diversity by providing specialized resources for women, veterans, and minority small business owners.

Dougert said that SCORE is a free resource funded by the federal government. She advised partnering with a mentor to get help with specific questions.

SBA Updates

Effects of the Infrastructure and Employment Law: Dussault noted that the Infrastructure and Jobs Act of 2021 provided $550 billion in new funding. The funds are earmarked for public transportation improvements, broadband availability, clean water, and road and bridge repairs.

How will that affect small businesses?

1. Improvements in transportation infrastructure will reduce shipment delays.
2. The creation of universal broadband will help entrepreneurs reach new customers and boost e-commerce.
3. Focus on the Minority Business Development Agency will help small business owners learn about the resources that are available to them.

Continued Benefits of the American Rescue Plan/CARES Act

1. Community Navigator Pilot Program – The program will target diverse communities to provide financial assistance and help with access to capital, as well as help with marketing, operations, exporting and business development.
2. Changes to Federal Made in America Procurement Guidelines. The new requirements are that products have 75% components made in the US (previously 55%).
3. Covid roadmap for the future: Focus will be on protection against new variants while preventing economic and educational closures and continuing to push for vaccines.

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