Every four years, the SBA releases a strategy document for the current and upcoming years. In the document Strategic Plan FY 2018-2022, the SBA renews its commitment to providing relevant products and services to America’s small businesses.
Once every four years, the Small Business Administration releases a document that outlines the agency’s strategy for the coming years ahead. In the “Strategic Plan fiscal Year 2018-2022”, the SBA remains committed to helping small businesses grow and succeed.
According to SBA Administrator Linda McMahon, “The SBA will achieve these goals through its core programs and services. Through capital assistance and contracting opportunities, the SBA will further its ability to help small businesses grow their revenue and sustain jobs. Through counseling and training services and advocacy for small businesses, the SBA will help communities build healthy entrepreneurial ecosystems. Through disaster assistance, the SBA will assist small businesses and communities as they recover after declared disasters. The SBA will focus on continuous process improvement and use outcomes and evidence to drive thoughtful decisions.”
The Strategic Plan provides a framework that outlines SBA’s key goals and objectives to ensure that our programs are managed effectively and efficiently. In this plan, the Agency sets four core strategic goals for the next 5 years:
- Support small business revenue and job growth;
- Build healthy entrepreneurial ecosystems and create business-friendly environments;
- Restore small businesses and communities after disasters; and
- Strengthen SBA’s ability to serve small businesses.
In the report, the SBA pledges to promote and develop its loan guaranty programs, like the 504 Loan Program, to best meet the needs of varying markets and entrepreneurs. The SBA maintains that one of its top priorities is to get capital flowing to small businesses.
To learn more, click HERE for the full report. Also, please contact us at BFC should you have any questions. We’re here to help!