What Is Small Business Administration In A Nutshell?

Small Business Administration is an organization funded by the American government which provides loans to entrepreneurs and businessmen to set up their small businesses. In addition to that the organization also provides some grants and training for the efficient running of business. Another important feature is that they provide legal and administrative help in establishing a business to entrepreneurs who are likely to get entangled in the web of laws and taxes if they do not have proper guidance along the way.

They conduct various training for different sets of audiences like entrepreneurs, women business ownership and international trade.

The most used and availed service however is one of obtaining loans and grants for doing business. Apart from giving loans out themselves, Small Business Administration will also stand as surety for people and help them get loans from elsewhere. In the case of natural disasters the organization also provides members with grants so that they can ‘get going’ again and are able to face troubled times.

Small Business Administration also helps businesses in contracting and it ranges from Business Development, HUB Zone and Government contracting to name a few.

The organization also helps businesses to deal with Advocacy and law related matters.

How do I get in touch with the Small Business Administration?

You can get in touch with them by visiting their website and calling up their number and speaking with an associate their. Apart from this the site has also got a local office locater which you can use to track down the office that is closest to you and then call them up, make an appointment and meet them in person.

I need helping in understanding business better?

While Small Business Administration takes care of loans and helps out people who have been turned down at other places for money, they also deal with a whole host of educational material and training programs. These training programs are aimed at people who want to learn more about the different functions of business.

What can I learn using SBA:

You will find resources that will help you to learn about the basics in starting up your business, such as understanding what are the various forms of ownership, checklists, understanding how franchise works and also knowledge about product basics.

Planning is an important aspect and you will be guided on things like writing a business plan, understanding what business you are in and the ways in which you are going to use this plan.

Financing is probably the most important part for without it the business will not take off. You will need to know where to look for capital, how to estimate costs and understand financial statements.

Small Business Administration also deals with education about marketing and the various forms of keeping your customers happy, conducting research and doing competitive analysis.

Employees will make or break your company and any help on finding the right people, what to pay them and what is needed to retain them is welcome.

Legal aspects like licenses and permits and business laws need the understanding of an expert and you would definitely seek some guidance in this area.

Taxes like State Tax, local tax , Sales and Use tax not only form a big part of your cost structure. If not handled carefully, it could get you on the wrong side of the law as well. It is therefore imperative to seek the utmost clarity here.

As is seen above when you are going to do your own business there is a host of things that you need to take care of and Small Business Administration can help you there, over and above getting the money for you to start off. What is important to keep in mind is that most entrepreneurs and business men are most of the times busy just scampering for funds that they lose track of most of the other things that happen and because of that, one thing or the other will go wrong and they will unfortunately have to repent later.

If you are managing a small business chances are that it’s a one man show and apart from planning and strategizing you have to do the running around after suppliers and authorities to get the necessary approvals etc. In such cases it is best to leverage on the experience of an organization like the Small Business Administration.

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What Can You Expect From a Career in Business Administration

If you enjoy working at a fast-paced and exciting job where you get to make a lot of decisions, then you might enjoy the field of Business Administration. You can earn a bachelor degree online that will provide you with the training you need to enter this fun field. Online education offered from business administration schools makes it easier than ever to earn the degree you always wanted. You can find accredited online colleges and universities that offer programs of study in business administration, so that you can explore these programs in depth and at your convenience wherever you have Internet access or a WiFi hotspot, and learn what you can expect from a Business Administration career.

Business Administrators are leaders in the workplace. They often help to organize people and the business resources in order to reach business goals and objectives in an efficient manner. They help to make and put into practice decisions that will come to bear on the business. They deal with the technical aspects of running a business, which usually includes office tasks. Your job related activities will often revolve around the handling and processing of data that comes into and leaves from your organization.

Because of the variety of ways businesses can be set up, you might be a Business Administrator in charge of one particular department or responsible for overall administrative duties that encompass several different departments. This decision is based on the size of and nature of the business, and the numbers of workers trained in specialized fields and their level of skill, among other considerations.

Some of the day-to-day tasks that you might find yourself doing as a Business Administrator will revolve around planning, organizing, staffing, directing, controlling and budgeting duties. Planning can help your company meet its short and long-term goals. Organizing also deals with the delegation of authority so that every necessary task gets accomplished. You will work on hiring the right people for the jobs that need to be filled, and you will help to lead those people and support them as they handle the work of the company. You will maintain quality control over all aspects of the business, and will also allocate funds so that the needed work can get done by creating an appropriate budget for business funds.

Over time, you might be promoted to become your company’s chief administrative officer. This person is responsible for the day-to-day operation of the company, and the chief administrative officer usually reports to the chief executive officer of the company.

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Business Administration Schools

This job is all about giving service to business. Working in business administration includes organizing staff; making sure the business where you work is running smoothly, and basically being the mediator between staff and upper management. Education in business administration can also prepare you for a management position, as well as running a business yourself.

Some of the titles associated with education in business administration include: general manager and company secretary. The general manager or company secretary would report to the corporate board of directors ultimately and their direct supervisor would be the executive level of management. Education in business administration coupled with job experience can prepare you to obtain positions in executive management, as well as be one of the corporate board of directors.

In these roles, you can make anywhere from $100,000 CDN plus. The starting salary of a general manager of a company or secretary is usually about $50,000 CDN.
Sometimes, business administration work is viewed as the people who look after the bureaucratic or operational functions within a business. This can include repetitive office tasks that are suited for some people. It is consistent and steady work for those looking for a firm and secure foundation for the future.

Some of the duties a business administrator would perform include:

Mapping out short-range and long-range goals for the company or institution

Some human resources work such as choosing whom will fill positions within an organization may be included, as well as delegating tasks to existing staff

Leadership skills are also required since business administrators are often lending ideas to further the development of an organization

Business administrators also deal with budgetary concerns

Business administrators may also be involved with the external and internal communications within the organization

If you are looking to reach the executive levels and/or board of director positions within an organization, in today’s competitive job market, having a master’s in business administration could help a great deal.

Some of the related fields to business administration include: Public administration, Central administration, and Chief administration officer

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Careers With a Business Administration Degree

Are you a natural leader and a gifted communicator? Do you have excellent analytical and logical ability? Are you a people’s person with above average interpersonal skills? Have you won awards or accolades for your organizational expertise? If your answer to all the above questions is a resounding yes, then you may be the ideal candidate for a Business Administration degree.

While traditionally a Business Administration degree was the exclusive reserve of the crème-de-le-crème of the corporate world, that’s no longer the case.

The biggest indicator of the fact that business education is no longer the right of a privileged few is the availability of this degree at Bachelor’s level. The assumption is that the prospect may not have the relevant experience or exposure to the industry but has the drive to learn and make it big in the business world!

A Bachelor’s of Business Administration degree is a typical four-year program that will prepare graduates for entry-level managerial roles in various business fields depending on their interest and area of specialization. Here’s an overview of some of the possible careers with a Business Administration degree:

Sales and Marketing: Although often spoken in the same breath, sales and marketing are actually two divergent fields of business. Broadly speaking, the primary objective of a sales manager is to sell a product or service to the target consumer. Developing sales strategy, training and mentoring sales reps, and setting and reviewing sales targets are some important duties of a sales manager.

The core job of a marketing manager, on the other hand, is to drive the strategy for first identifying what people need, working with the product development team to develop the product with desired features, pricing it correctly, and then promoting the product (or service) amongst its target audience.

Human Resources: This branch of business is focused on the most valuable asset of an organization, namely, its people. Human resources management involves recruitment and management of an organization’s employees and includes activities such as staffing, establishing company policies, managing employee benefits and compensation, dealing with performance issues, working on employee training, benefits, and motivation programs, etc. Administration skills combined with a “people’s” personality can make one an excellent human resources professional.

Financial Services: One of the most lucrative careers with a business administration degree is that of a financial manager. According to the Department of Labor, the duties of a financial manager include overseeing the preparation of financial reports, directing investment activities, and implementing cash management strategies. With a background in finance, you can find a broad range of employment opportunities in financial institutions like banks, insurance companies, credit unions, small businesses and large corporate houses, and state and federal agencies.

Accounting: Another career option you can explore with a Bachelor’s of Business Administration degree is that of a management accountant. Management or corporate accountants are the custodians of an organization’s financial health. Budgeting, cost accounting, asset management, financial reporting, financial planning, and tax planning are some of the responsibilities of a management accountant.

Real Estate: If you like to walk the road less traveled, real estate or property management is an interesting field of business you can explore. As a real estate manager, your clients will rely on you to manage the operations of a property and monitor its life-cycle from acquisition and utilization to maintenance and disposition. If you want to become a real estate manager, make sure your business administration program allows you to specialize in property management.

Health Services: Health service management is probably amongst the most rewarding careers with a Business Administration degree. The job of a health service manager is to take care of the administrative and business aspects of a healthcare unit to ensure the smooth delivery of primary patient care. Although a degree in healthcare administration ties in more closely with this field, those who have Business Administration degree with a concentration in healthcare administration may also qualify for the job of a health services manager.

While all these careers may be open to you with a Bachelor’s of Business Administration degree, what can really propel you on to high profile business positions is an MBA degree. A Bachelor’s degree will provide you with a perfect start, while a Master’s degree will ensure that you always stay ahead in the race!

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Learn to Lead with Business Administration Degrees

It takes more than a strong personality to be effective in business administration. To be a good leader, you have to be someone others will follow. Do you have what it takes to earn a business administration degree?

Follow the Leader

Simply put, those in business administration careers coordinate the administrative support services that allow organizations to operate efficiently. These services may include conference planning and travel, equipment repair and replacement, information and data processing, mail, materials scheduling and distribution, parking, payroll, printing and reproduction, records management, secretarial and reception, security, telecommunications management, and personal property procurement, supply, and disposal.

In order to effectively coordinate these administrative support services, business administration professionals must have excellent communication skills and the ability to work with and supervise all staff members. You’ll need to know each employee, and be able to allocate assignments and issue deadlines. Furthermore, you’ll have to make sure that work is being accomplished in a productive manner. This requires evaluating each administrative support staff member’s performance, which may include everything from the joy of recommending a promotion to the tough task of recommending a transfer, demotion, or dismissal.

Take the Lead With a Business Administration Degree

To pursue a business administration career, many employers require a business administration degree, or simply an associate or even a bachelor’s degree in business, management, human resources, or finance. Your business administration degree program may include courses in accounting, business law, business mathematics, computer applications, human resources, and office technology. A business administration degree at the master’s level is also encouraged.

The skills you’ll hone on your way to a business administration degree include teamwork, problem-solving, flexibility, and leadership, as well as determination, loyalty, poise, and confidence. You’ll also have the opportunity to master your ability to organize and coordinate work efficiently, set priorities, and motivate others — key to success in your business administration career.

Lead Me On

Office and administrative support supervisors and managers held 1.5 million jobs in 2004; jobs for those with a business administration degree are found in practically every industry. Median annual earnings of office and administrative support supervisors and managers were $41,030 in May 2004, with the highest 10 percent earning more than $67,800.

If you’d like to increase your business administration marketability, pursue the Certified Manager (CM) designation offered by the Institute of Certified Professional Managers of James Madison University. The CM program, which focuses on the application of practical skills and techniques, is composed of three modules: foundations of management, planning and organizing, and leading and controlling. Once you pass all three exams, you may use the Certified Manager title.

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