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3.02 Vocab

QuestionAnswer
The SBA promotes small business development, helps businesses secure government contracts, and provides assistance and advice on how small businesses can increase revenues and profits. Small Business Administration (SBA
A volunteer organization in which retired business executives share their business experience with small business owners. Service Corps of Retired Executives (SCORE
Free counseling services provided by student teams at many colleges. Small Business Institute (SBI):
The Department of Commerce provides social and economic statistics for businesses as well as research and support for scientific, engineering, and technological development. It also issues patents and trademarks, provides assistance to promote economic d United States Department of Commerce
The FTC ensures that business practices in the United States are fair. It constantly monitors all aspects of business including pricing, competition, credit, and export trade. It makes and enforces rules that regulate trade and protect consumers Federal Trade Commission (FTC):
The IRS issues federal taxpayer identification numbers to businesses, distributes publications that explain tax laws, and assists with tax-related questions. Internal Revenue Service (IRS):
The SBDC is funded by the federal government and state governments. Usually located in colleges and universities, these centers provide counseling and management assistance to small businesses. Small Business Development Center (SBDC):
Each state has a DOD. This agency administers federal community development programs. The DOD provides assistance to small and developing businesses through a Small Business Division and Minority Business Development Division. Department of Development (DOD):
All business owners who employ workers are required to provide insurance that gives employees or their survivors benefits in the event of work-related injuries or deaths. This board works with employers to provide this insurance at reasonable costs. Workers’ Compensation Board
This agency issues permits for businesses involved in the processing, handling, storage, or distribution of food products. It also issues permits for public-interest businesses such as day care centers, schools, financial institutions, and employment age The State Department of Agriculture and Consumer Protection Division
This agency issues identification numbers to retail businesses that collect and remit sales taxes. It also provides instructions for collecting, reporting, and remitting sales taxes to the state. The State Sales and Use Tax Division
This agency provides businesses with information regarding employer responsibilities in relation to unemployment insurance. The State Department of Labor
This office provides general business information in addition to information and forms used for incorporation. It also provides forms used to register state trademarks and business names. The Office of the Secretary of State
The purpose of these organizations is to stimulate local economic growth. They provide information about the local economy, business trends, and business needs of the community. Chambers of Commerce
These educational institutions offer educational training and research support. These educational institutions offer educational training and research support. Colleges, universities, and technical schools
These offices offer assistance and support when obtaining business licenses. Licensing and Permit Offices
These departments will provide information on local health and safety regulations. County Health Departments
These agencies are good resources for agricultural businesses. County Extension Services
Created by: Tasha P
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