Small Business Administration (SBA)

The Small Business Administration (SBA) is a federal agency whose mission is to strengthen the nation’s economy by enabling the establishment and viability of small businesses as well as assisting communities and homeowners in economic recovery after disasters. The SBA was established in 1953 by the Small Business Act and has three main goals: (1) to grow businesses and create jobs, (2) to serve as the voice for small business, and (3) to build an organization that meets the needs of small businesses. The SBA assists prospective entrepreneurs, new start-up businesses, and existing small businesses through a variety of programs and with partner organizations.

The SBA defines a small business based on the industry type using the North American Industry Classification System. Depending on the industry, ...