The role of advocacy has received a rating of 3 since the current operating threshold is not optimal. SBA usually represents small businesses with regards to regulations being developed in various occasions. However, many are the cases when small businesses are shut down by city officials as a result of various regulations that they are not aware of. This means that SBA can improve on this area to ensure that small businesses are operating without being subdued by city officials on regulations that the owners are not privy to.
On the issue of educating small business owners, there seems to be some gaps. Many small businesses that start every year normally collapse within the first, second or third year. In US, approximately 543,000 businesses are started every month. This is an indication that the business owners do not have sufficient knowledge on how to run the businesses. Efficiency on the side of the SBA on this issue would ensure that most of the small businesses thrive since the owners have sufficient knowledge on the DOs and DON’Ts of the business.
With regards to access of loans, the SBA is currently doing a commendable job. The amounts of loans being issued through SBA are increasing with every year. This means that more businesses are benefiting from the loans.
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