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Salt Lake City Bookkeeping Blog

How Can the U.S. Government Help Your Small Business?

Posted by Matt Roberge on Feb 24, 2017 9:00:00 AM

how-can-the-u-s-government-help-your-small-businessSmall businesses are a big part of the U.S. economy, collectively representing one of the biggest employers and job creators. The government recognizes that and as a result there are many places you can turn to find the government helping small businesses.

If you are a small business, you will want to take advantage of all the support and resources the government has in place for you, since these tools are often very useful ways to grow your organization.

Ways the Government Helps Small Businesses

Small business government help comes in many forms, such as:

  1. Providing Free Advice and Support

    Your city and state likely has economic development departments and small business offices. These are great resources that can help you find financing, compliance help and other tools. If you have questions as a small business, these are the places you should look first.
  2. Offering Financing

    The Small Business Administration (SBA) backs small business loans, making them a viable option for many smaller companies. Your bank or credit union can help you apply for these forms of funding, which often offer competitive interest rates and simpler qualification processes when compared with financing aimed at larger firms.
  3. Acting as a Client

    The US government hires small businesses! The government can in fact become a market for your products or a client in need of your services. To find out what vendors and contractors the government needs, contact the SBA or check the websites of your federal, city and state governments to find purchasing departments.
  4. Providing Information

    It takes a lot of data to run a business. You may need market research, information about taxes or exporting, resources about regulations and more. Government offices are one way to access this information easily and often at no cost.
  5. Enhancing Publicity and Networking

    Your local chamber of commerce can be a great way to network and to get others aware of your brand. In addition, taking part in government advisory committees and government requests for input lets you shape future policy while also potentially meeting others in the business community to expand your network. Asking politicians to your events can also generate buzz and free media coverage of your business.

Would you like more advice and support than the government can provide? Would you like support navigating the many options available from the government? SLC Bookkeeping offers bookkeeping and business consulting services. We speak the language of small businesses, and we pave the way for your success.  

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Topics: Small Business Consulting