Starting a Business

President Obama proclaimed that this November is National Entrepreneurship Month, a time when “we celebrate the remarkable and everyday successes of our entrepreneurs and innovators, and we reaffirm our commitment to ensuring our economy remains the engine and the envy of the world.”

Small businesses borrow for four principal reasons: starting a business, purchasing inventory, expanding, and strengthening the firm’s financials.

 “Small business owners across the country tell me that access to capital remains one of their central concerns,” said Chief Counsel for Advocacy Winslow Sargeant. “The research we are releasing today will add to the understanding of small business financing needs and sources, and will inform policymakers seeking to strengthen the productive small business sector.”

The Finance FAQ is replete with data about where small businesses obtain their financing, including 15 graphs showing types of startup and expansion financing, as well as trends in bank lending, interest rates, venture capital, initial public offerings, SBIC funding, and SBA loans.
 

“Startup America also represents a historic partnership with business leaders, investors, universities, foundations, and non-profits, and we're urging others to join them in this effort. For entrepreneurs speak to what's best about America, and in their drive and innovative spirit -- in their willingness to take a risk on a bold idea -- we can see the future. We can see how America will compete and win in the 21st century global economy.” President Obama

A new video series launched today by the U.S. Small Business Administration and ADP® offers insight into the story behind the story of six successful American companies.  Featuring the individuals who built their businesses from an idea to become industry leaders, the “America’s Best” series shares keys to success, best practices and lessons learned for today’s entrepreneurs.

“With this series, SBA and our partner ADP offer current and potential entrepreneurs a chance to hear from the people who built their big ideas into some of America’s most successful companies,” SBA Administrator Karen Mills said.  “These six people share their personal perspectives and insights into the challenges they faced, along with their failures and successes, while also offering an inspirational look at the resiliency behind America’s spirit of entrepreneurship.”

The “America’s Best” video series is available online at www.sba.gov/AmericasBest and on www.ADP.com.  The series was produced in partnership between SBA and ADP, a provider of human resource outsourcing, payroll services and benefits administration.