Serving more than half a million small businesses and aspiring entrepreneurs in Fiscal Year 2020, America’s Small Business Development Centers (SBDCs) rose to the occasion during a time of unprecedented challenges.
From the beginning of the coronavirus pandemic, America’s SBDCs were on the job. Providing free, one-to-one business consulting and free or at-cost business training, SBDC consultants, trainers and staff helped America’s small businesses — and the communities they serve — adapt and survive.
As one SBDC client described it, “I was trying to keep it together but panicking! Then a friend recommended I talk with the Alabama SBDC. I talked to my advisor an hour and a half the first time I called her. She was also a small business owner and knew what a state of mind I was in. She has ended up advising me on every step and has even kept me ahead of the game, giving me information as she learns it.” — small business owner and chef Yanni Tempelis, who worked with her local SBDC to secure PPP funds and help save her business. The America’s SBDC Annual Report showcases the work of the 62 state and regional SBDCs that form America’s nationwide network of SBDCs. Click To Tweet From helping small businesses address the Covid-19 crisis to serving America’s veterans, women-owned businesses, underserved communities and young entrepreneurs, to promoting technology development, exports and rural development, America’s SBDCs show why they are America’s largest and most trusted network of small business assistance providers. (more…)
If you’ve ever asked, “What is a DBA?” this article is for you. The short answer is, a “Doing Business As” is when the name under which a business operates is different from its legal, registered name. A DBA may also be called a trade Name.
Why Would a Business Choose a DBA?
There are reasons why a business would choose a fictitious name (another term for a DBA). A sole proprietor or partner might choose a DBA so they can operate with a typical business name without the need to create a formal legal entity (like an LLC or a corporation). For example, John Smith, a plumber, might choose to operate under the name of Eveready Plumbing. He’d need a DBA to do that. If John wanted to run his business under the name of John Smith’s Plumbing, he wouldn’t need one.
If your business was a corporation or a limited liability company (LLC) and wanted to operate the business under a name that is different from the name of the corporation or LLC, you would need a DBA. For example if John Smith & Joe Bonanza LLC wanted to operate as Mount Olympus Real Estate Investment Company, they would need one.
New data from BizBuySell’s small business confidence survey and recent business for sale transactions reflects a market driven by opportunity seekers and business owners, either well-positioned to profit or forced to exit.
BizBuySell’s 3rd quarter 2020 Insight Report, a nationally recognized economic indicator which aggregates statistics from business-for-sale transactions, shows a steady upward trend in sales since the pandemic hit. In April, transactions showed a 51% year-over-year decline, shrinking the deficit to 21% in July, and then just 5% fewer deals in September.
The catalyst behind the resurgence appears demand driven. According to BizBuySell’s 2020 Small Business Confidence Study, buyer confidence reached a record high of 60 compared to 53 a year ago. (more…)
Happy SBDC Day! SBDC Day is a national celebration of the success of SBDC clients and the impact that SBDCs have on our nation’s prosperity.
SBDC Day unites the nearly 1,000 SBDC centers across the country and the millions of clients they have served over the years by sharing, in real time, the success stories of SBDC clients and the SBDCs that serve them. Typically, this special day is celebrated with social media campaigns, public relations initiatives, online and in-person events. In light of the recent COVID-19 pandemic and its unprecedented impact on everyone’s lives, especially small businesses, we have decided to focus this fourth annual SBDC Day on how SBDCs can help their local small businesses and clients prepare and persevere in the weeks to come.
We encourage all entrepreneurs and small businesses to check out and bookmark our new “COVID-19 Small Business Resources” webpage. We will continue to add information, resources and opportunities for businesses, to help them keep their businesses afloat as they navigate through this challenging period. And check out your local SBDCs as well — they are there to help!
SBDC clients need their advisors’ expertise now more than ever. For over 40 years SBDCs have been building trust, building communities, and advising small businesses through financial crises, natural disasters, and other misfortunes. This year is no different.
This SBDC Day we ask SBDC clients to share their stories or questions online, and we ask our SBDC Day Ambassadors and other friends in the field to highlight resources they have in their toolboxes that can assist people and companies facing this crisis. We ask everyone to include the #SBDCDay hashtag in their social media communications so we can track and share questions and resources that are posted. Together through this pandemic, SBDCs and their clients will “Stay Calm and Small Business On.”
If you aren’t familiar with the SBDC program and would like more information, please take a few minutes to check out the rest of my blog. (more…)
The U.S. Centers for Disease Control and Prevention (CDC) has provided interim guidance for businesses and employers to plan and respond to Coronavirus Disease.
The CDC says the interim guidance is based on what is currently known about the coronavirus disease 2019 (COVID-19), and the CDC will update the interim guidance as needed and as additional information becomes available.
According to the CDC, the interim guidance may help prevent workplace exposures to acute respiratory illnesses, including COVID-19, in non-healthcare settings. The guidance also provides planning considerations if there are more widespread, community outbreaks of COVID-19.
The interim guidance includes recommended strategies for employers to use now; planning for a possible COVID-19 outbreak in the U.S.; planning considerations; and considerations for creating an infectious disease outbreak response plan.
For the complete CDC interim guidance, and additional resources and information from the CDC, click here.