The U.S. is a state built on the principles of free enterprise, which undoubtedly drives and develops the country. Therefore, programs of state support for business in the United States are very diverse. The United States, both at the level of the Federal Government and at the level of individual state governments actively support entrepreneurs in programs:
- concessional financing, subsidies and lending
- providing various infrastructures for promotion and development of products and services
- tax base reduction
- acquisition of equipment, real estate and land.
There is a state organization in the U.S. that unites entrepreneurs in different areas. There are certain benefits in the import-export area as well.
There are general and target programs to support SMEs. Target programs change all the time. They depend on the specific sector which at a given moment, in the opinion of the government, needs support. The federal government has its own opinion on this, and the state governments have their own opinions.
For example, a state on the west coast of the United States may think that a certain IT industry needs support. While a state in the central part of America believes that support is needed to increase the number of pigs or bulls. The federal government, for its part, has its own views on this and is also guided by some of its own data and strategies for national development. Recent hot topics that have been actively supported by the by the U.S. government:
- alternative energy sources
- trucking
- drug rehabilitation
- alternative modes of transportation.
The official website of the federal government (SBA) provides up-to-date information about U.S. government support for small businesses.Each state has its own department with similar functions, such as New York State.
In addition, there are opportunities for private companies to receive certain grants from the government in various areas. The grant application process is mostly straightforward and straightforward and can be done without outside help. Grants are mostly handled by the Federal Government.
In the United States, it is easy enough to get a loan for a start-up business if its owner has a good credit history. To this end, there are certain types of loans that are made through financial institutions, which are a little easier to obtain because they are in some way guaranteed by the Government, and the financial institutions themselves are much more willing to give loans or credit on favorable terms. There is such an institution as the SBA (Small Business Administration) – an agency under the Government, which is engaged in:
Support for small and medium-sized businesses at the level of events, networking, infrastructure
as well as making arrangements with financial institutions for the provision of various financial terms.
Advantageous terms are negotiated between the financial institution and the SBA. The Government guarantee in this case means that if a financial institution gives a loan to a certain young company, which later does not pay back the loan, the Government guarantees payment on the loan to this financial institution.