There are a number of resources available for small business owners and entrepreneurs in New York State:

New York Loves Small Business 

What is the Small Business Administration?

The United States Small Business Administration is an independent agency of the federal government.  It was created in 1953 to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA recognizes that small business is critical to our economic recovery and strength, to building America's future, and to helping the United States compete in today's global marketplace. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

The mission of the SBA is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters."

Please go to the Small Business Administration website to find a wide array of information on SBA Programs.  The SBA also offers Online Training Courses for Small Business Owners. For an overview of all SBA Loan Programs, click here.

Congress has taken steps to address these problems.  Legislation that Congress passed in February strengthened the SBA’s lending programs and made them even more usable for small businesses.  

This important new law does a number of things to help small businesses:

•    It provides interest-free loans of $35,000, giving small firms an immediate cash injection to cover existing business obligations;

•    It makes it easier for small business owners to get Small Business Administration (SBA)-backed loans;

•    It reduces the costs of these loans;

•    It helps small firms raise equity capital;

•    In total, this new law will generate $21 billion in new lending and investment for small businesses.

These programs contained in the ARRA, when paired with existing programs at the Small Business Administration, will help America’s small businesses weather this storm, and lead us back to prosperity. This page is designed to help you tap into these new programs and better leverage the existing programs at SBA. Most of all, we want the advice to be practical.  We want you to be able to identify the right lender for you, walk into a room, sit down with them and find the capital that meets your business needs, whether that’s starting a new business, keeping an existing one afloat, or expanding your operations.   The resources here can help you meet those objectives.  

The SBA also has a Recovery Act Website, which details all of the funding available through the Act.  The Recovery Act also made additional funding available through USDA’s Rural Development in their Business & Industry Loan Guarantee Program.

The SBA does not make loans directly to businesses.  However, they may act as a guarantor on a loan made by a private lender.  This is known as a 7(a) loan.  To read more about this program, click here. 

Understanding the relevant laws for running a business is vital to the success of your operation.  Below are some links to relevant information for business operations in NYS.  Please note however that these links are meant to be for informational use only, and are not a substitute for seeking legal counsel. 

U.S. Department of Labor OHSA Laws and Regulations 

 

As your business grows, exporting your product may become an option.  However, understanding the laws governing international trade can be daunting.  The International Trade Administration helps promote U.S. exports as well as protect the competitiveness of U.S. products in the world market.

 The brave men and women who have given so much to their country have more than earned the right to have their country give back to them during these tough economic times.  There are many resources out there to assist Veteran Owned Small Businesses.  I recently authored an amendment to a small business bill that would increase the grant sizes for “initial grants” and “growth funding grants” for Veterans Business Center, like the Veterans Business Outreach Program which is already operating in the Capital Region.  These Centers provide entrepreneurial training and counseling to veterans.  Centers are required to focus on veterans’ entrepreneurial development, counseling of veteran-owned business through one-on-one instruction and classes, and government procurement assistance to veterans. My amendment would raise the cap on grant aid to help our veterans become successful entrepreneurs as they return home.  By giving our veterans the opportunity to excel as small business owners, we help them to continue being not only the backbone of our communities, but of our economy as well.

Check out the Department of Veterans Affairs VETBIZ page here and the Small Business Administration’s Veterans Business Development Page here.

The Small Business Development Center (SBDC) program is the cornerstone of the SBA’s entrepreneurial programs. Congress established it in 1980 to foster economic development by providing management, technical, and research assistance to current and prospective small businesses.  SBDCs offer one-stop assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations. The SBDC program has provided assistance to millions of entrepreneurs across the United States. With nearly a thousand service centers and numerous additional outreach offices in the network, SBDC’s operate in a partnership between SBA, educational institutions, and state and local governments and is an integral component of Entrepreneurial Development's network of training and counseling services. 

Please go to the New York State SBDC Website to find a location nearest you.  Do not hesitate to contact your location for a variety of difference services – use them as your first stop on the way to building your business.

The SCORE Association, headquartered in Washington, D.C., is a nonprofit association dedicated to entrepreneurial education and the formation, growth and success of small businesses nationwide. Our public service mission is to help more entrepreneurs become successful small business owners through face-to-face and email business counseling.

SCORE is composed of 10,500 volunteer business mentors, both working and retired, who counsel businesses from 389 chapter offices throughout the country. SCORE volunteers hail from every facet of the business community. Some have worked at large corporations such as Kodak, Xerox, Boeing and General Electric. Some have served in our military or worked for the local or federal government. Others have spent years cultivating their own small business. Last year, SCORE helped expand small business opportunities through assistance to more than 400,000 Americans.

To contact the local chapter of SCORE, please visit their website.