Established in 1953,the federal small business administration is a body that protects and aids the small business population in the US. A major function of this body is to advance loans to entrepreneurs and small business by working with intermediary institutions such as banks, and other financial institutions.
The SBA (small business administration) offers loans through the 7(a) Loan Guaranty and Certified Development Company programs. The entity provides venture capital through the small investment company program. It also provides small loans of up to $25,000 for new businesses.
There are many features that a small business administration has to offer such as SBA's 7(a) Loan Guaranty Program (General Business), SBA's Micro loan Program, SBA's Certified Preferred Lenders Program, SBA's Secondary Market Program, SBA's Surety Bond Program Opportunities, SBA's 504 Certified Development Company Program - Procurement Assistance and Grants Financing Business workshops and Shareware programs.
Apart from the above services, the SBA also provides a directory of small business lending commercial banks. Application forms are also available on-line on the website of the SBA to facilitate the convenience of parties interested in applying for a loan. Applicants can contact their local moneylender for additional information and support in the SBA loan application process. Information about SBA loans advancements, management counseling and training services offered by the agency is also obtainable from any local SBA office.
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There are many other functions that the SBA performs, for example SBAââ‚¬â„¢s office of advocacy conducts studies about policies of economic research on various important issues and publishes data on various small businesses and their characteristics. The national advisory council of the SBA was formed in October 1965. This advisory council consists of volunteers who come together to help and maintain the nationââ‚¬â„¢s economy by protecting and securing the interests of small businesses. This council also helps businesses that have fallen victims to natural disasters. The Small Business Innovation Research (SBIR) Program is a very competitive three-phase award system that provides eligible small business parties with opportunities to advocate groundbreaking ideas that meet the research and development needs of the Federal Government.
Business administration teaching styles
Business administration is defined as the management of different aspects of a company or a venture and includes financial management, human resource management, labor law, material management, and management of logistics. The schools or colleges that teach these subjects often have rigorous training programs that prepare students to face various kinds of professional challenges after they join an organization.
Different methods and styles of teaching have emerged in the last decade and considerable refinement is being achieved in the field business management studies. These styles and methods are relevant because the future performance of a candidate depends on the level of understanding and education that modern management colleges provide. More often than not, the teaching styles and methods used emphasize on solving real life business problems so as to make students familiar with the common professional hurdles that they may face in the future.
Students of business administration undergo rigorous training programs that include case studies, lectures, simulation and project works. The students are also allowed to manage and supervise recreational or extra-curricular activities in order to improve their social and communal relationships. Teaching styles may be collaborative or personal, in that, professors and teachers try to educate students on an individual level, as and when required.
Group discussions and debates are a crucial part of the curriculum and enhance a studentââ‚¬â„¢s confidence and problem solving ability. Usually, there is an advisory board that advises students who need career or any other type of guidance. There are two major types of teaching approaches in a business school ââ‚¬" one is the case method approach in which student input in class is emphasized upon. Another is the straightforward teacher-to-student lecture in which a teacher gives out information and knowledge in the form of lectures. Both approaches have been found to be effective and the type of approach that a college decides upon depends on the nature of the program and course subjects.
Online degrees in business administration
Business administration can be defined as the management process of different functions in a business such as finance, human resource, materials and other abstract processes. These are usually functions that determine the success or failure of a company. In the twenty first century, opening up of economies is the norm and businesses are conducted on a global scale. Therefore, it is important for companies to maintain productivity and quality in order to be successful.
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To achieve this goal, managers are appointed to implement and manage company policies in such a way that efficiency and competency levels are maintained. The need for such type of managers has skyrocketed in recent times giving rise to many colleges that teach and educate its students to become successful managers. Classrooms as well as online courses are available for this purpose. However, classroom courses are not accessible to people who are already employed and this is the reason behind the emergence of online courses.
Online courses are suitable for adults who are working and can only make time for education at night or after working hours. There are numerous advantages of taking online administration courses and one of them is that students study at home and have access to resources sites that help in improving their knowledge. Reference material and information about various aspects of a subject are easily available to students from the Internet.
Business administration courses focus on skill improvement in financial accounting, quantitative analysis, economics, managerial finance, marketing, and business research. Some of the collages that offer online courses in the above fields of specialization are Warrington College of Business, Aakers College, Benediction University, and Ellis College. The best feature of these colleges is that most of them do impose any time constraints on students and are open twenty-four hours a day. Students of these institute can study at anytime and access course material from anywhere in the world.
Business administration finance
There are many branches in business administration such as human resource management, logistics, material management and financial management. Financial management is a key function in all organizations, which deals with the smooth and effective management of the financial resources of a company.
Students with interest in finance complete a course in business administration with finance major to take up challenging roles in finance. The different sub topics included in a finance curriculum are investment and portfolio management, international financial management and corporate finance decision-making and analysis.
A deeper search reveals a few other subjects offered by many business administration colleges as a part of their finance major which includes analysis of the financial system, security analysis and investment management, applications of business finance, financial planning and budgeting, working capital management, advanced financial management, financing multi national businesses and seminars on financial planning and budgeting and other finance related subjects. Finance is a very important and complicated subject because any organization, whether big or small, needs to manage its funds within a budget and the management of budgets is a primary function of finance professionals. Students are taught modern practices and techniques such as risk management, capital budgeting and investment analysis.
Current financial issues and statistics are analyzed in finance courses along with other subjects of departmental research interest that include, international finance, domestic capital market pecuniary institutions and the configuration of securities markets.
Students who pass a business administration program in finance can work as treasurers, financial managers, and consultants with firms, analysts, and transaction specialists with a variety of investment banking firms, and as financial managers for organizations and governmental agencies. Understanding different quantitative concepts and techniques is critical to a career in finance. The prerequisites for admission to a MBA program are mathematics and statistics and a good grasp of these two subjects is vital for students to complete finance assignments.