The American Legion will be hosting a small business workshop for Veteran Small Business Owners on February 24th  and 25th  2015 at the Washington Hilton Hotel, in Washington, DC. The Workshop consists of two days of ‘best practices’ seminars, VA Opportunity Showcase, and multiple Business Networking Sessions during breakfast, lunch and evening reception. This event is Free for Veterans, Service Members, National Guard, Reservists and Spouses.  To Register please send name, company name and email to dgrooms@legion.org or call (202) 263-5757.

By Debbie Gregory.

A 2015 job report is giving Americans a reason to be optimistic, as American businesses added a 252,000 jobs in December, 2014, and unemployment dropped to its lowest rate since June, 2008. Our country is currently riding the wave of 58 consecutive months of job growth (the longest such streak since the mid-1990’s), and we have small business owners to thank.

In 2014, small businesses created nearly 2 million of the approximately 3 million private-sector jobs. And more than 7 million out of the 11 million jobs created during our nation’s recovery have been generated by startups and small enterprises.

One industry that is showing considerable promise is computer systems design, which now employs 1.8 million Americans, 25% more than before 2008.

December’s job report is representative of the turnaround to our nation’s ongoing employment picture:

• 73% of December 2014’s job growth came from small businesses
• Twice as many small businesses expanded the number of jobs to their workforce as cut them.

Along with their job expansion, a recent report from the National Federation of Independent Business (NFIB) also found that small business revenues are on the rise. And American manufacturing is undergoing its best period of job growth since the 1990s. The U.S. auto industry has created nearly a half-million new jobs in the last five years.

Entrepreneurs and small businesses have been instrumental to our country’s ability to weather this economic storm. The economic turnaround has been due, inpart, to the many successes of small businesses, and their ability to survive and thrive through the worst economic crisis since the Great Depression.

The U.S. Small Business Administration (SBA) has played and continues to play a crucial role in the economic turnaround. While the success of small business owners is partially the result of their planning, hard work and dedication, their success can also be attributed the utilization of SBA programs and resources. Commercial small business lending is still only at 91% of the pre-recession level, but SBA-backed lending has now eclipsed its pre-recession output. Small business borrowers have received $163 billion in SBA-supported capital since 2009.

Economists and entrepreneurs should have reason to believe that 2015 will be a great year for small business growth. Consumer confidence is at a seven year high, the economy has added at least 200,000 jobs for the last 11 months in a row, and hiring is at levels we haven’t seen in years.

Now is the time to frequent www.VAMBOA.org and www.SBA.gov and find the resources you need to help your business thrive.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

By Debbie Gregory.

Every small business owner wants to optimize their use of U.S. Small Business Administration (SBA) resources and offerings. But some of the SBA’s programs can be difficult to understand, making them harder to utilize. One of the most used and hardest to understand SBA offerings is the Historically Underutilized Business Zones (HUBZones) program. Because of this, the SBA has introduced an additional online training module to help small business owners to better understand the HUBZone program and status protests.

The program, fashioned in response to the HUBZone Empowerment Act, was generated by Congress in 1998. HUBZones assist small companies in underserved communities gain access to federal contract opportunities. This is accomplished through promoting job growth, capital investment and economic development in economically depressed areas, in rural and urban communities and on Indian reservations.

The new training module “Understanding HUBZone Protests” explains what a HUBZone status protest is. It  clarifies how they are initiated, who can file a protest, how the SBA responds to status protests and how a HUBZone status protest determination can be appealed. This training module is the third in a series of mini-primers, intended to help business owners better understand the program through short, focused learning exercises.

The new HUBZone training module can be accessed through the SBA’s Government Contracting Classroom and the agency’s Online Learning Center, where many other courses are offered. This course, along with other training modules offered by the SBA, includes a downloadable workbook that supports the users grasp on content of the course.

The training and information options offered by the SBA are offered to help small businesses gain access to and benefit from the more than $400 billion in federal contracts that are awarded each year.

Small businesses bring competition and innovation to federal contract markets.  The SBA helps firms benefit from those markets.  Frequent the www.VAMBOA.org and www.sba.gov websites for smarter and more accessible ways to access SBA programs.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

By Debbie Gregory.

Bottom line, it takes hard work, know-how, and tremendous determination for owners of small firms to be successful. Small business ownership is not about avoiding a forty hour work week, as many business owners put in closer to eighty hours a week to get their businesses up and running.

Close to 40 million businesses are started each year. Of these, approximately 350,000 survive and make money. So how can small business owners overcome the odds and make their company one of the success stories? Some of the keys to success depend on luck and timing. But many successful people and companies have sworn by a few key factors of success that they rely on, again and again.

Have a plan: Everyone in the business world agrees that having a plan is important. But plans don’t have to be big undertakings. Nor should they be a bar that you must always measure your current situation up against. Plans should start small, and expand over time. Initial plans should include identifying your target customers/clients, figuring out what their needs are, and how your business is going to meet those needs. Internal plans include establishing responsibilities, setting realistic short and long term goals, and devising ways to track your company’s performance.

Build a Dream Team: Just like in sports, one player cannot win championships. Yes, superstars make winning easier. But teams win when everyone knows their roles and plays their positions well. You may be a superstar worker at your company, but you can only do so much. Surround yourself with great players who are willing to follow your lead and play within your system. And don’t be afraid to add a few other superstars to your team, they can only add to your team’s talent level.

Consider your product: Is there demand for your product? Does it solve a customer’s problem? Are there products similar to yours in your market? How can you improve upon or out-do your competitions’ product or product delivery method? While running a successful business does require a lot passion, it must also fill a need (or serious want). And once you decide on a product, be sure to use your passion for your product to ensure that it is the best product of its kind in the market.

Constantly re-evaluate your process: Once you have the right product, people, and plan in place, it is important to generate and constantly improve upon your company’s process of creating, selling and distributing your product. Most business fail to do so, and as a result, fail to meet customers’ expectations. These expectations fluctuate, so it is important to stay on top of consumer trends.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!