Generally, business start-ups are promoted by private enterprises. However, there are also some government agencies that aids entrepreneurs in certain situations.
These situations can be like, inflation, national interest, etc. But the main role of government is to provide broad changes in monetary and fiscal policies.
Government agencies play a significant role in boosting the value of the currency.
It prioritizes the national values by keeping the economic standards to a respectable extent.
Many business enterprises and even educational institutions are funded by government agencies for the betterment of the education sector.
It provides subsidies as well as charges taxes for accommodating any service to maintain the regularity of money flow for other government expenditures.
After all, it’s the public money which is called a tax and it should be utilized for public welfare.
Before setting up any business, entrepreneurs classify the gains and profits that would be obtained. It is important to know the mechanism of regulating a successful business.
Are you struggling to launch a business?
Don’t know how and where to start?
If you have any problem like these then you should be worry-free as there are numerous government agencies that aids entrepreneurs in all terms.
Following are the best 25 government agencies that aids entrepreneurs:
SBA
One of the best government agencies that aids entrepreneurs is SBA. It also provides proper counseling, capital, and professional expertise to small enterprises.
According to SBA’s Table of Size Standards, a business is summed up as a small business when the firm revenue holds it ranges from $1 million to over $40 million.
In the employment terms, it is from 100 to over 1,500 employees.
Who qualifies for an SBA loan?
For acquiring an SBA loan, you must be officially registered as a for-profit business enterprise with a legal license.
Now, your firm must have less than 500 employees and not more than $7.5 million in revenue on an average basis each year for the duration of the past three years.
Small Business Innovation Research Program
The SBIR Program is the only program in the federal government that focuses exclusively on helping small businesses and entrepreneurs. Such programs encourages domestic small businesses to participate in research and development (R&D) that has the potential for commercialization. It is also administered by SBA and is highly competitive. It stands among the best government agencies that aids entrepreneurs.
Service-Disabled Veteran-Owned Small Business Program
Service-Disable Veteran-Owned Small Business Program is launched by the federal government of the US.
It ranks among the best government agencies that aids entrepreneurs and aims to offer at least 3% of all federal contracting dollars each year to service-disabled veteran-owned small businesses.
There are some criteria for the disabled veteran-owned small business program:
1. Your business should be a small business under SBA’s size standards.
2. At least 51% of the business should be owned by one or more service-disable veterans.
3. One or more service-disable veterans should be responsible for managing operations and decisions.
4. Service-connected disability is a must.
Entrepreneurs’ Organization
With 25 years of experience, EO has been able to create a network of far-sighted entrepreneurs with a zeal to learn and develop.
From its transition to YEO-WEO-EO, it has incorporated influential and experienced entrepreneurs.
It is classified as a high-quality support network that includes 14,000+ talented entrepreneurs across 61 nations.
Verne Harnish, Kevin Harrington, and Ted Leonsis is the founder of Entrepreneur’s Organization.
Initially, 22 entrepreneurs were selected as founding board members to formulate the funding.
FoundersCard
FoundersCard was founded by Eric Kuhn in 2009. He wanted to create a top-tier community network for entrepreneurs.
This was an improvement for the early start-up in 1997 named Varsity Books which was an internet business.
He learned about the business’s ups and downs from this and analyzed the working mechanism.
He discovered that the banks are enjoying special privileges but this thing lacked in the entrepreneur’s case.
With unity among the working professionals and an identical mental approach, FoundersCard is counted as one of the best government agencies that aid entrepreneurs.
To solve this issue, a strong community of entrepreneurs was a mandatory requirement.
Today, FoundersCard is a community of 50,000 members, $70,000,000+ Member Savings, 500+ Exclusive Benefits and 650,000+ Benefit Redemptions.
Young Entrepreneur Council
YEC is a community founded by entrepreneurs to help other entrepreneurs.
It is a community that includes the most experienced and passionate entrepreneurs.
YEC is founded by community-building and business professionals Scoot Gerber and Ryan Paugh.
According to the founders of YEC, it works to fulfill the social need, a promotion-free enterprise, and connections among the generation’s most successful entrepreneurs.
Due to its professional working mechanism and expert guidance, YEC has managed to obtain a place among the best government agency that aids entrepreneurs.
Young Presidents Organization
YPO is an organisation for young entrepreneurs and business leaders. It’s a great place to connect with people in your industry.
Vistage
If you’re an entrepreneur looking to grow your business, consider joining Vistage. It helps entrepreneurs like you network with other entrepreneurs in your area, share ideas and learn from each other.
Dynamite Circle
Dynamite Circle is a small group of like-minded people who meet regularly to help each other accomplish their goals. It is a mastermind group where you can talk about business, life, and career. Also, I think it’s important to have a community of people you can trust with your ideas.
Entrepreneur’s Club
The Entrepreneurs Club is an initiative by experienced business professionals. The vision of the club is subjected to the black community.
It provides support to enterprises in the black community for securing wealth.
It is the goal of the Entrepreneurs Club to train black entrepreneurs in every field related to the business sector.
Youth development and financial growth are the priority goals for the club.
The Entrepreneurship Club was founded for offering effective and productive resources to entrepreneurs.
Ashoka
Ashoka was started by Bill Drayton in 1981. It is stated as the world’s largest network of leading social entrepreneurs.
Ashoka has managed to obtain a place in the top 20 NGOs of the world. Gloria De Souza, a social entrepreneur from India was selected as an Ashoka Fellow n 1982.
Nobel Laureates like Kailash Satyarthi and Magsaysay winner Anshu Gupta are also a part of Ashoka.
With more than 35 years of experience in the industry, Ashoka has been able to develop and grow the largest network of entrepreneurs in the world.
Each entrepreneur is introduced to a life-long fellowship where he/she tries to uphold and evaluate the new patterns of social entrepreneurship.
Ashoka incorporates a noble population as its member which makes it reliable and effective among other government agencies that aids entrepreneurs.
The Association of Private Enterprise Education
APEE is the world’s largest association of academics and practitioners in the private sector. Founded in 1982, APEE is an international network of scholars and professionals interested in the study of private enterprise.
Startup Grind
Startup Grind is a global startup community designed to educate, inspire, and connect entrepreneurs.
SCORE
SCORE is a non-profit association dedicated to supporting small businesses and entrepreneurs by providing education, mentoring and access to capital.
SBDCs
Small Business Development Centers are a great resource for entrepreneurs. In addition, the SBDCs are funded by the US government and offer free advice to entrepreneurs and small business owners. They rank among the best government agencies that aids entrepreneurs.
Minority Business Development Agency
Minority Business Development Agency (MBDA) encourages the growth and development of minority-owned businesses.
It helps to stimulate the public and private sector programs along with policies and research work.
The vision of MBDA states the resolution of increasing the economic prosperity and profitability for all American business enterprises.
The Minority Business Development Agency is an important segment of the U.S. Department of Commerce. It is one of the best government agencies that aids entrepreneurs.
It is dedicated and committed to the growth and global competitiveness of minority business enterprises.
MBDA is stated as the most resourceful and best government agency that aids entrepreneurs.
It offers facilities like customized business development and industry-based services.
Parts of MBDA:
1. Minority Growth Equity Funds Initiative(The Billion Dollar Fund)
2. Entrepreneurship Education for Former Incarcerated Persons
3. Global Women of Color Economic Empowerment
4. American Indian Alaska Native/Native Hawaiian(AIANNH)
Small Business Technology Transfer Program
SBTTP includes the following:
- Small Business Innovation Research(SBIR)
- Small Business Technology Transfer(STTR)
These two programs are stated as highly competitive programs that help in encouraging domestic small businesses for engaging with Federal Research/Research and Development(R/R&D) along with a potential for commercialization process.
Both SBIR and STTR help small businesses to survey their technological capacity and achieving a beneficial growth in profit from its commercialization.
SBTTP is classified as one of the best and reliable government agencies that aids entrepreneurs.
Its objectives are:
To increase the commercialization in the private sector through federal research and development funding.
Fulfill the required objectives and development process.
Reviving and stimulating technological innovation.
Women’s Business Centers
Women’s Business Centers are classified as a national non-profit 501(c) (3) organization. It was founded in 1998.
And prioritizes the working standards for women and works to secure economic justice and opportunities for women.
It has an active national network of 100 Women’s Business Centers (WBCs).
The vision of WBC is to support the working mechanism of women and to stimulate the growth of female entrepreneurs.
Women-Owned Small Business Federal Contracting Program
The WOSB is a national trade association that represents the interests of over 500 small businesses owned and controlled by women. The purpose of this program is to ensure that small businesses owned and controlled by women are given equal opportunity in obtaining federal contracts. Therefore, these businesses must be at least 51% owned and controlled by one or more women and operate for profit.
U.S. Copyright Office
The U.S. Copyright Office is a really great resource for entrepreneurs. Not only can you get a lot of information on copyrighting your work, but they also have a lot of information on how to market your work effectively and legally.
Entrepreneurship.gov
Entrepreneurship.gov is a great resource for aspiring and current entrepreneurs. It’s a great resource for those looking to start their own business, but it’s also an amazing resource for those who want to take their business to the next level.
IRS.gov
If you’re a small business owner, you may be eligible for free and low-cost assistance from the IRS. You can also get help with questions about starting and operating your business.
MyMoney.gov
MyMoney.gov is a great website for people who want to learn more about personal finance. The site has a ton of really useful resources, including a budget calculator, a retirement planner, and a savings calculator.
Development Innovation Ventures
Development Innovation Ventures is the leading venture capital firm investing in high-impact startups that are addressing the world’s most pressing development challenges.
Innovation Investment Alliance
If you’re an entrepreneur with a great idea, you should meet with an IAI member. They’re specifically looking for entrepreneurs who have great ideas for products, services, or technologies.
Conclusion
Starting a business can be a challenging task, especially when it comes to financing. Luckily, there are various government agencies that aids entrepreneurs in easing their financial burden. It’s essential to research all available options, including government sources, to find the best fit.
The Small Business Administration (SBA) is a valuable resource for guidance on managing and financing your small business online and in person. Before launching your business, explore these government agencies that aids entrepreneurs.
