pad 530 part 2.docx - Running header Part 2 1 Agency\u2019s Public Personnel Administration Part 2 Tiffany Lockhart PAD 530 Part 2 2 Introduction Small

pad 530 part 2.docx - Running header Part 2 1 Agencyu2019s...

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Running header: Part 2                                                                                                                     1 Agency’s Public Personnel Administration, Part 2 Tiffany Lockhart PAD 530 July 25, 2018
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Part 2 Introduction Small business and entrepreneurship are significant and often vital aspects of sustaining the U.S., and the world economy as a whole (U.S. Small Business Association, 2016, National League of Cities, 2016). While the U.S. economy has been on the upswing for the past five years, America is still recovering from one of, if not the worst recessions in history – a recession that was nearly declared the second great depression. Local governments are not alone in the effort to rebuild the economic recovery and viability of a country. Rather, citizens are also vital contributors in the rebuilding and stability of the economy, especially when it comes to small business and entrepreneurship. As job creators, often at local levels, small businesses and entrepreneurship have the unique ability to offer positions for area residents to reduce unemployment rate while filling the need for specialty services and goods and generating tax revenue and adding to the livelihood of neighborhoods (National League of Cities, 2016). Due to the importance of small business in supporting the economy, especially since the Great Recession of 2008-2010, the U.S. Small Business Association has remained a force for small businesses and entrepreneurs support and assistance. Agency Functions Established in 1953, the U.S. Small business association, although run independently, is a federal agency with the mission of aiding, counseling, assisting and protecting small business concerns, while sustaining free competition and conserving and strengthening the nation’s economy (U.S. Small Business Association, 2016). According to the U.S. Small Business Association’s website, the entity recognizes that small business is critical to economic viability and vigor, and a key component of the future of America. Small Businesses are also critical in 2
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Part 2 the positioning of the U.S. in the global market place. The organization has expanded its offerings and vehicles for support, but abides by its primary mission created upon establishment of helping citizens start, build and grow businesses (U.S. Small Business Association, 2016). Agency News Although a helping organization, the U.S. SBA has conflicting parameters associated with the definition of a small business, depending on the sector within which the business operates (Say, 2012). A small business could be one with $7mm in annual revenue and 500 or less employees, with exceptions for those with annual revenue as much as $36mm and 1,500 employees (Say, 2012). No matter the definition, research shows that small businesses entered 2016 with stronger growth, increased profits and upward hiring trends (Biery, 2016). As of
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