Sba Number Of Small Businesses – Washington DC. – SBA Director Jovita Carranza released the following news following the announcement of the President’s Disaster Declaration for several counties in Tennessee that have been affected by severe storms, tornadoes, hurricanes and flooding. – Water on April 12 – 13, 2020.
Although the disaster declaration covers Bradley and Hamilton counties in Tennessee, small businesses and many non-profit organizations in Walker County can apply for disaster loans – SBA Economy from the US Small Business Administration, Walker County is close to Hamilton County.
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In accordance with precautionary measures against the coronavirus (COVID-19), SBA will not establish a presence in the field to assist survivors. However, SBA will continue to provide first-class customer service and operations through webinars, Skype calls, telephone assistance and step-by-step application assistance.
Number Of Small Businesses In The Us [updated Sep 2022]
As a result, SBA launched the Virtual Disaster Loan Center (VDLOC/VBRC) to help survivors apply online through Electronic Loan Application (ELA) through SBA’s secure website https://disasterloanassistance.sba.gov/ and virtual customer support. A representative can assist applicants in completing the online application. VDLOC/VBRC Information:
These services are available only to announce severe storms, tornadoes, high winds and flooding on April 12 – 13, 2020, and not for assistance related to COVID-19.
Victims should contact a Crisis Assistance Specialist at (571) 422-1925 or (571) 422-6016 or (404) 909-1535 to schedule an emergency appointment to complete their application. Requests for information about SBA loan programs can be made by emailing FOCE-Help@sba.gov. SBA will work hard to ensure that all victims receive assistance.
For small businesses, small agricultural cooperatives, small fisheries businesses and many private nonprofit organizations, the SBA provides financial disaster loans to help meet disaster-related working capital needs. A financial crisis loan can be given no matter how much the company has suffered.
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Interest rates are as low as 3.75 percent for businesses and 2.75 percent for nonprofits with terms up to 30 years. Loan amounts and terms are set by the SBA and are based on each applicant’s financial situation.
To be considered for any type of disaster assistance, applicants must register online at DisasterAssistance.gov or download the FEMA mobile app. If online or mobile access is not available, applicants should call FEMA’s toll-free helpline at 800-621-3362. Those using 711-Relay or Video Relay services should call 800-621-3362.
Businesses can obtain loan information and applications by calling the SBA’s Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the deaf and hard of hearing) or by emailing disastercustomerservice@sba.gov. Loan applications are also available at www.sba.gov. Completed applications should be mailed to: US Small Business Administration, Disbursement and Processing Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline for filing property damage claims is June 23, 2020. The deadline to file a financial loss claim is January 25, 2021. Each year, Guidant surveys America’s hard-working, stable small business owners to find out who they are, and how they’re doing. Live as a business owner, their plans for the future – and how their business is dealing with things now.
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Then, we compile this information into our annual Small Business Trends Report to help paint the state of America’s small businesses. Here’s a look at current small business trends through 2023:
What motivates Americans to become business owners – and motivates them to “jump in”? Our report shows that business owners first went into business because they were “ready to be their own boss” (28%) and were dissatisfied with Business America (23%). These motivations show that many people are willing to leave the corporate lifestyle and take control of their career path.
Many were motivated to become business owners because of their passion (13%). In contrast, others reported that they were motivated to start a business because they had been laid off (10%) – and that they were not ready to retire (10%).
Fewer entrepreneurs entered small business ownership because the opportunity presented itself (9%), they were inspired by a new business idea (4%), or they had a life event, such as a divorce or death (2%).
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Many consider the millennial generation to be true entrepreneurs. But the gap between millennial business owners and previous generations remains. According to our research, Baby Boomers (39.63%) and Gen X (47.20%) make up the majority of small business owners. Millennials make up about 13 percent (12.92%) of the study sample.
While the gap between business owners remains significant, millennial business owners increased by six percent compared to last year’s Small Business Trends survey, indicating promising growth. And we’re likely to see more millennials jumping into the corporate world in the next few years. According to Bloomberg, the average age to start a business is 35.
Baby Boomer business owners, on the other hand, decreased slightly (-5.95%) from last year. The Great Retirement may have contributed to this decline as approximately 28.6 million baby boomers left the labor market and retired in the fourth quarter of 2020 alone.
A recent study by the Pew Research Center also found that COVID-19 has contributed to a rapid increase in boomers leaving the labor market. Since the boom, the number of boomer retirees has increased by about 1.1 million.
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The silent generation, also known as the “post war” generation born between 1928-1946, makes up less than one percent (0.25%) of small business owners in our report.
Small businesses drive America’s economy – they play a vital role in economic growth and job creation. Despite the emphasis on diversity in business, including efforts to represent women in leadership roles and increased efforts by women in business programs, many small businesses are owned by men.
In our research, women made up 25 percent of small business owners this year. Men continue to dominate the small business sector, accounting for 75 percent of small business owners. Less than one percent chose to identify as asexual (0.37%).
The majority of study participants identified as White or Caucasian (76%). Other races are less than five percent represented, including “Black or African American” (5.19%), “Asian or Asian-American” (4.83%), and “Hispanic, Latino or Spanish origin” (4.70%).
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Despite progress in the diversity of small businesses since last year’s Small Business Trends survey, there is still a large gap – but the gap is narrowing.
According to Forbes Advisor, 43 percent of small businesses are owned by women. Ethnic minorities own about 19 percent of small businesses compared to 13 percent of Hispanic small business owners.
New data also shows that more small businesses are embracing diversity, equity and inclusion (DE&I) in the workplace. More than 80 percent of small business owners prioritize DE&I, and more than 50 percent say diversity plays an important role in their business. With this data, we hope to continue to improve the diversity of business owners.
Guident strives to empower entrepreneurs and small business owners from underrepresented communities, including people of color, women and other disadvantaged groups. We believe that promoting diversity in small businesses is important in the future and we hope to see more representatives in the coming years.
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Over the past two years, there has been a shift in major political parties that is common among small business owners. Small businesses affiliated with Democrats (-10%) and Republicans (-9%) are down about 10 percentage points from 2021.
Business owners who identify as “Libertarian” have increased by 14 percent — and the number of business owners who feel disconnected from a political party has increased by 22 percent.
These changes in engagement indicate that many small business owners are dissatisfied with the current political climate, as they feel that their values or needs are not being met by the system.
Despite these political changes, a majority of small business owners still identify as “Republican” (42%), while 19 percent identify as “Democrat.”
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How many small business owners have degrees? According to our research, most business owners have a bachelor’s degree (41%) and a majority have a master’s degree (29%). Ten percent of business owners surveyed have a spouse, while less than five percent have a college degree (4%). Our research shows that education plays an important role in small business ownership, as most business owners have a bachelor’s or master’s degree.
Today’s small business owners face a challenging business environment, characterized by economic uncertainty and a changing political environment. Despite these difficulties, many business owners plan a path to success – whether it’s starting a new franchise, buying an existing business, or starting a business from scratch.
From our analysis, the majority of small business owners (33%) bought existing independent businesses, taking advantage of established businesses and good customers. A smaller number of small business owners (21%) started from scratch, a decrease of 23 percent from last year’s survey.
As inflation increases the cost of goods and services, starting a business in 2023 will definitely be more expensive than previous years. Entrepreneurs and business owners also fear an impending or ongoing recession, which may cause many to question “momentum.”
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