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Phone Number : 302.652.4800

Industry News

New Administrator of Small Business Administration sworn in

Small businesses are an important part of the economy.

Small businesses are an important part of the economy.

The Small Business Administration (SBA) has a new leader, approved by the Senate last month. Maria Contreras-Sweet was recently sworn in as Administrator of the SBA by Vice President Joe Biden in a ceremony at the White House.

Contreras-Sweet has previously served at high levels in the public and private sectors, making her well-qualified for this position, according to the White House blog. She will be working to help small businesses succeed domestically and overseas. It is hoped that her prior success and experience will lead Contreras-Sweet to continue helping small businesses grow, as strengthening the economy is a primary objective of the Obama Administration. 

The ceremonial swearing-in took place on April 7, and President Obama was in attendance. 

"Maria Contreras-Sweet will help small businesses get their good ideas off the ground, to expand, to hire, to sell their products and ideas not only in our domestic markets, but also overseas," President Obama said.

The White House blog also cites small businesses as an important force for transforming the economy away from being based on speculation and borrowing and back towards building and innovation.

Small businesses play an integral role in the economy by providing new job opportunities. There are a lot of factors that go into starting and running a business, and the Small Business Administration exists to help entrepreneurs with different kinds of issues that may come up as they work toward their goals. 

Entrepreneurs looking to run a small business should start by learning about the benefits of incorporating, like limited liability and tax savings. Once you've decided the structure that your business will take, an online incorporation services company can help give you the tools you need to make your venture a successful one.