We Americans tend to have mixed feelings about our government. Many of us want more help from it, while others would like the government to just leave us alone.
That’s pretty much the sentiment of small business owners, too. In the WASP Barcode Technologies’ 2017 State of Small Business Report, we found that half of the 1,100 small business owners surveyed believe that the U.S. government doesn’t do enough to support them, 22% do believe that the government does do enough, and 13% don’t want the government involved at all.
I’m not here to debate whether the government does enough for small businesses (though we do employ more people than “big businesses”). What I can offer are seven ways the U.S. government helps small businesses.
There are more resources available than many people realize, and all of them are free. So if you’re bootstrapping a new company or need to be extra frugal with your budget, one or two of these programs might really help.
1. Get a loan
The second most common reason for small businesses to fail is running out of cash. That’s not terribly surprising—it’s common knowledge that lack of funding can kill a business. CBInsights verified this when it studied 101 startup failures.
Don’t let lack of funding hurt your business. Visit the SBA website and you’ll find an entire section about funding programs, surety bonds, how much funding you’ll need, and how to get that funding, including how to approach lenders and venture capitalists.
Don’t miss the grants applications, either—especially if your company does research or might be interested in doing research.
2. Get business advice for free
Being a small business owner requires a sizable skill set. You need to know at least a little bit about every aspect of running a business—from marketing and inventory to hiring, taxes, customer service, insurance, finance, and more. And that doesn’t even cover the expertise you have for the actual business you do!
While you do need to know a little bit about all those things, you don’t necessarily have to be an expert—especially if you can find an expert to help you, and even more so if you can work with that expert for free. That’s what several government programs offer. SCORE, in particular, pairs up business experts (who donate their time for free) with startups and existing businesses. Many of these people would otherwise charge hundreds of dollars an hour, but if you can connect with them through SCORE, those costs are waived.
Even if you only use them for background information or as a sounding board for your business ideas, having someone with experience and expertise can be a valuable asset.
3. Find work
Government contracts can be lucrative, long-term, anchor clients that will keep your company working through even the worst recession. The SBA website has an entire section devoted to landing government contracts. If that doesn’t suit you (or you want more information), there’s also the book, The Small-Business Guide to Government Contracts by Steven J. Koprince.
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4. Protect your ideas and trademarks
Got a logo you want to protect? A way to build a better mousetrap? Don’t let your ideas get stolen. Register them at the U.S. Patent and Trademark Office: USPTO.gov. The patent and trademark website also offers a comprehensive “Learning and Resources” section that’s written in plain English, but keep in mind that if you need to do anything complex, or you’re concerned your patent or trademark could be challenged, it might be best to hire an attorney. But for those of us who just want to protect our logos, the online forms here are enough to get the job done.
5. Research your market
Smart business owners study their market—both before they launch their businesses and after. There are plenty of ways to research a market, but if you want demographic data down to the ZIP code, and you want it all for free, the U.S. Census Bureau can be a treasure trove of insights. If anything, the problem with this site is how vast the information is, but if you need help, it does offer training on how to find and use Census data.
My favorite Census sections are the “visualizations” or visual presentations that it publishes on a slew of topics, and many of these visualizations can become the basis of future blog posts. The Census also conducts more than 130 surveys every year that are useful for coming up with content marketing ideas.
6. Reduce your tax bill
If you own a small business, I’m sure you’re aware of a few of the hundreds of loopholes, special programs, and other legal ways to reduce your tax bill. While the tax code is certainly an incredible headache, there are opportunities for those who understand it.
To find out about tax credit programs in your state, county, or town, contact your local municipality office. Get someone smart on the phone and ask a lot of questions, especially about any state or local economic development programs you might be able to participate in. An hour or so of research could save you thousands of dollars—or make you tens of thousands.
7. Get training
Not sure how to write a business plan? How to present your business to a bank for funding? Or what the laws are for hiring in your state? You don’t necessarily have to wade through government websites to figure it out. Almost every government site I’ve listed has training programs, or you can visit one of the more than 900 Small Business Development Centers (SBDCs) located across the United States.
SBDCs are run in association with the SBA, and they are expressly designed to help new business owners and startups, and to support and train any existing small business owner that would like free help. Want an idea of the type of businesses SBDCs help? Ramsey’s Market in Lenox, Iowa, is a small local grocery store that’s been able to survive and employ four full-time and seven part-time employees, thanks to the help of the local SBDC.
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