America.gov - Telling America's Story

Hector V. Barreto, Administrator, U.S. Small Business Administration

Small businesses contribute significantly to the U.S. economy in innovation, adaptability, and job creation for women and minorities, as well as in distressed areas.

Small businesses helped build the United States. Americans hold high regard for small businesses, whose flexibility has provided lessons for big business.

To encourage small businesses, governments should make capital accessible, facilitate business education, reduce regulatory burdens, and protect intellectual property.

U.S. laws aim to eliminate shame from bankruptcy and encourage those who fail in business to make another try.

Starting a small business requires self-examination, crucial decisions about what good or service to sell, financing, writing a business plan, and whether to have a partner.

It is a mistake to begin expanding a business before establishing a stable and profitable operation. Carefully work out the problems, including achieving a money-making model from which to expand.