Small Business Administration
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What Is Small Business Administration?
Small business administration refers to the general overseeing and management of a small business operation. This can sometimes be handled by one person (especially for smaller boutique businesses), but it can also sometimes be handled by a board or a group of persons.
Small business administration, or small business management, is essential to the success and growth of the business. Many major corporations began as small businesses and rose to prominence due to excellent business management.
What Is Involved in Managing a Small Business?
Small business management and administration involves the overseeing of all major aspects of the company, including:
- Start-up, registration, incorporation, and other "beginning" phases
- Hiring, recruitment and training
- Financing, loans, and insurance issues
- Public relations
- Issuance of stock and other securities
- Debt collection and debt management
- Management of day-to-day operations
- Mergers and other inter-company deals
- Dissolving a small business
Lastly, small business administrators must ensure that all of these tasks are performed in a way that complies with al federal, state, and local business laws.
Isn’t the Small Business Administration also an Organization?
Yes, there is a government agency called the U.S. Small Business Administration. It provides various resources and guidelines for small businesses. It does not manage any small businesses itself; instead, it provides general guidance for small businesses and owners. More specific legal requests and issues generally need to handled directly by a qualified business lawyer.
Do I Need a Lawyer for Help Managing a Small Business?
Managing small business requires much planning and careful attention to detail. It also requires some understanding and interpretation of laws at the state and federal levels. You may wish to hire a lawyer if you need help with a small business issue. Your attorney can also
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Last Modified: 08-13-2014 10:24 AM PDT
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