It’s Small Business Week from May 12 until May 16, and there are some awesome bits of news for small business owners everywhere. Obama pushes a budget that shows optimism in small business growth, the SBA announces $2.5 million in available money to startups, Facebook announces its plan to make advertising on the site easier, and cities all around the country are holding events for small business this week.
Obama’s Budget Has Less Money for SBA Loans.
Initially, that sounds like a bad thing. However, the budget that has been handed to Congress for approval shows that the government has much more confidence in the loans that it issues to small business. They’ve cut the spending to guarantee SBA loans in half. That doesn’t mean there will be half the loans, but that they feel that many fewer loans will default than before. Read more on Businessweek.
SBA Announces $2.5 Million Competition for Accelerators
It looks like the SBA has noticed the success of Silicon Valley’s startup accelerators, because they want to expand the possibility nationwide. It’s been easy for San Francisco and other wealthy cities to fund these kinds of programs, but not so much in states like South Dakota or Arkansas. The SBA’s plan will offer $50,000 awards to startups and other small businesses in accelerator-like competitions, offering special consideration to accelerators that support manufacturing or focus on underrepresented groups in business. Read more on Entrepreneur.
Facebook Plans to ‘Friend’ Small Business, Teach Owners to Use Social Media Service
Facebook has realized the potential available in the small business advertising market, but hasn’t figured out how to beat the skepticism that most small business owners have in buying ads on the social media network. As a response to the problem, they’ve developed a plan to begin teaching small business owners how to create ads and take advantage of the most targeted advertising on the planet. Read more on USNews.
It’s Small Business Week, and Here are the Events Scheduled Around the Country
The SBA kicked off it’s annual Small Business Week at Twitter HQ today, offering statements of the government’s support for Small Business. Typically the government holds different events in Washington and around the country, but they aren’t the only ones. States, counties, and cities, as well as private organizations, are holding events as well. Find an activity near you on SmallBizTrends.