10 Best Resources for Small Business Owners
July 26, 2023
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Starting and running a small business is hard, but the right help can make a big difference. Here you’ll find a list of resources to support small business owners. Whether you need money, help with taxes, tools to grow your business, or legal advice, these resources can help you on your entrepreneurial journey.
What Resources are There to Support Small Business Owners
To do well as a small business owner, it's important to have the right help. These resources are made just for people like you who run businesses. They give you important advice, skills, and tools to succeed. When you use these resources, you can learn new things, get support, and make connections.
1. The U.S. Small Business Administration (SBA)
The U.S. Small Business Administration, or SBA, is a special government agency that helps and supports small businesses. They have a website full of helpful stuff like financial guides and tools.
With these resources, you can find information about:
- Making a business plan
- Getting money for your business
- Finding contracts to work on
- Making your savings work for you
- Taking training courses to learn more.
The SBA also has offices in different areas. So, if you need extra help, you can talk to someone face-to-face. They want to ensure small business owners like you have all the support they need to succeed.
2. IRS Small Business and Self-Employed Tax Center
Understanding taxes can be confusing for small business owners. The IRS, which stands for the Internal Revenue Service, is a government agency that deals with taxes. They have a special branch called the IRS Small Business and Self-Employed Tax Center. It's like a central spot where small business owners can find many helpful resources just for taxes.
They advise what taxes you must pay, deductions you can take to lower your taxes, and how to keep good records.
3. National Women's Business Council (NWBC)
The National Women's Business Council, also known as NWBC, is a helpful resource for women who run their own businesses. It's like a group that gives advice and support. The NWBC is part of the government, but they don't take sides in politics. They want to ensure women who own businesses get the help they need.
On their website, you can find reports with important information and valuable resources. They also have ways for women entrepreneurs to meet and talk to each other and even find someone to be their mentor, who can give them guidance and advice. The NWBC is here to support women in business and help them succeed.
4. MIT Open Learning Library
The MIT Open Learning Library is where you can learn for free. MIT stands for the Massachusetts Institute of Technology. They have a special library just for learning, and it's open to anyone who wants to use it. Small business owners can find all kinds of educational stuff there.
They also have courses that teach you how to start your own business and guides that show you how to make good plans for your business. You can use these resources on the internet whenever you want, which is handy when you're busy running a small business.
5. Service Corps of Retired Executives (SCORE)
SCORE is a special group that helps people who run small businesses. It's a nonprofit organization, meaning they don't profit from helping people.
They give their help for free. The people at SCORE are volunteers who used to be in charge of big companies, so they know a lot about business. They can give you special advice that fits your business, like making a good plan, promoting your business, and dealing with money. They can even recommend insurance for small business owners. You can get help from SCORE online or meet them in person.
6. Small Business Development Centers (SBDCs)
SBDCs are a special group of centers that help people who have small businesses. These centers are all over the country, and they give their help for free. They're usually connected to universities or groups trying to improve the economy.
SBDCs can help you with lots of things like:
- Making a good plan for your business
- Finding clients
- Figuring out your money situation
- Getting money to grow your business
They know starting and growing a business can be hard, so they're there to support you and help you succeed.
7. Your Local Indiana Chamber of Commerce
Local chambers of commerce are groups that help businesses in a certain area. They want to ensure businesses succeed, so they offer lots of support. Being part of your local chamber of commerce means you can meet other business owners who are like you. You can learn from them and get advice. The chamber of commerce also organizes events where you can meet people who might become your clients. They even talk to the government to make sure they understand what businesses need. Joining your local chamber of commerce is a great way to get help, make connections, and be part of a community of business owners.
8. Small Business Legal Clinics
Legal clinics that focus on small business law are really helpful for people who start their own businesses. These clinics are like special places where you can get advice and help with legal stuff. They know a lot about business laws and can advise you on how to set up your business, make contracts, protect your ideas, and follow the rules. Sometimes they even offer their help for free or at a low cost. It's important to talk to legal professionals to ensure your business follows the laws and runs smoothly. These clinics support you and ensure your business stays on the right side of the law.
9. Small Business Forums and Online Communities
These are special websites where people can talk, share their experiences, and help each other. For example, there's a forum on Reddit called r/smallbusiness, and on LinkedIn, there are thousands of groups just for small business owners. When you join these communities, you can ask questions, learn from others, and get lots of helpful advice. It's like having a big group of friends who understand what running a small business is like. Being part of these communities can give you good ideas and business support.
10. Your Business Bank's Website
Your business bank's website can be a valuable tool for navigating the world of business and finance. It offers a variety of small business resources and features that can support your business's financial needs. Let's explore some key areas where your bank's website can help:
- The Difference Between Savings and Investing: Your bank's website can help you understand the difference between savings and investing. It can provide educational materials that explain how savings accounts help you keep your money safe, while investing involves putting your money into opportunities that may earn you more in the long run.
- Savings: Your bank's website may have specific sections dedicated to savings. Here, you can find tips on how to save money effectively, create a savings plan, and manage your business's cash flow.
- Savings High-Interest Accounts: Your bank's website can provide information about savings accounts that offer high-interest rates. These accounts allow you to earn more money on your savings, helping your business grow over time.
- Saving Products: Your bank's website can showcase the different saving products they offer. It can provide details about different types of accounts, such as certificates of deposit (CDs) and individual retirement accounts (IRAs), that can help you save and plan for the future.
- Investing: Your bank's website can provide resources and information on investing options. It may offer insights into different investment vehicles, such as stocks, bonds, or mutual funds, and help you understand the potential risks and rewards associated with investing.
- Money Market: You can learn about money market accounts on your bank's website. These accounts often offer higher interest rates than regular savings accounts and provide easy access to your funds when needed.
- CDs and IRAs: Many bank websites highlight CDs and IRAs as saving options. You can learn about the benefits of CDs, which enable your business to earn higher interest rates over a fixed period. IRAs, on the other hand, offer tax advantages for long-term retirement savings.
By exploring your business bank's website, you can gain valuable knowledge and access tools to support your financial goals. Whether you're looking to save, invest, or understand the basics of financial management, your bank's website can be a valuable resource on your business journey.
Resources for Small Business Owners at Centier Bank
To explore additional resources and find out how Centier Bank can support your small business, see our small business banking resources. Our dedicated team is ready to assist you in achieving your business goals.