SBA Celebrates America’s Small Businesses

It’s National Small Business Week, and the Small Business Administration is throwing a party. Guess what: you don’t have to be in DC to join the festivities; follow along via the SBA’s live webcast.

We’re joining the National Small Business Week party, too. Thought we’d bring along this tasty little roundup of advisories regarding SBA initiatives for entrepreneurs and small business owners.

Don’t need to let in breathe – it’s immediately drinkable:

SBA Proposed Rule Would Create More SBIR and STTR Opportunities for Businesses Partially Owned by Venture Capital Companies, Hedge Funds and Private Equity Firms (McKenna Long & Aldridge LLP)

“The Small Business Administration recently issued a proposed rule to amend its regulations governing eligibility for the Small Business Innovation Research (“SBIR”) and Small Business Technology Transfer (“STTR”) programs. This proposed rule would implement provisions of the National Defense Authorization Act for Fiscal Year 2012. Specifically, the proposed rule revises the affiliation rules for participants in the SBIR and STTR programs to permit participation by concerns that are majority-owned by multiple venture capital operating companies, private equity firms or hedge funds.” Read on>>

Federal Small Business Subcontracting Plans (Fox Rothschild)

“With limited exceptions, unrestricted federal procurements over $650,000 ($1.5 million for construction of any public facility) include Federal Acquisition Regulation (FAR) clauses … which require contractors and their first tier subcontractors to make a ‘good faith effort’ to meet or to exceed the procuring agency’s small business subcontracting goals. Failure to make this effort could result in liquidated damages, default termination and negative performance reviews.” Read on>>

A Spotlight on Small Business Investment Companies (SBIC) and Their Role in the Entrepreneurship Ecosystem (Sutherland Asbill & Brennan LLP)
“The U.S. Senate Committee on Small Business and Entrepreneurship (the Committee) held a roundtable on March 22 entitled ‘A Spotlight on Small Business Investment Companies (SBIC) and Their Role in the Entrepreneurship Ecosystem.’ The second of three roundtables, this discussion focused on start-ups, entrepreneurship and how to foster the growth of U.S. small businesses… The SBA representative said that Congressional authorization for the SBIC program has continued to increase and is currently at $3 billion.” Read on>>

USPTO Issues Report on International Patent Protections for Small Businesses (Jeffrey Sheldon)
“The U.S. Patent and Trademark Office recently issued a report on how to make international patents more available to small businesses. The report, prepared in conjunction with the Small Business Administration, was mandated by the America Invents Act. The goal was to determine how best to defray the costs of filing, maintaining, and enforcing international patents for small businesses.” Read on>>

The 8(a) Mentor Protégé Program: Opportunities for Large and Small Businesses (Sheppard Mullin Richter & Hampton LLP)

“Under the Small Business Administration’s 8(a) Mentor-Protégé program, large businesses provide various forms of business development assistance to small businesses participants, including, for example, technical and/or management assistance, financial assistance, and assistance in performing prime contracts. The program … offers substantial opportunities for large businesses to participate in performance of federal government contracts through partnering with 8(a) program participants on a variety of contractual arrangements, including set-aside procurements, subcontracts, and prime contracts.” Read on>>

SBA Program Creates New Category Of SBICs Focused On Early Stage Small Businesses (Patton Boggs LLP)
“The Small Business Administration (SBA) has announced the Early Stage SBIC Program, which creates and supports a sub-category of Small Business Investment Companies (SBICs) that focus on investments in early-stage small businesses. SBA has committed $150 million in 2012 and $200 million each subsequent year, through 2017, to license Early Stage SBICs. An Early Stage SBIC may qualify for up to one tier of leverage from SBA, capped at $50 million over the life of the fund.” Read on>>

SBIR Improvements — Allowing Majority Investor Participation and More (Womble Carlyle Sandridge & Rice, PLLC)
“On December 31, 2011, President Obama signed the National Defense Authorization Act for 2012, which included the SBIR/STTR Reauthorization Act of 2011 (the “Act”). Many changes, large and small, were made to the Small Business Innovation Research Program and the Small Business Technology Transfer Program. The Small Business Administration is required to issue proposed regulations implementing the Act generally by April 30, 2012 and regarding fraud, waste, and abuse prevention by March 30, 2012.” Read on>>

SBIR Program Reauthorized with Broadened Availability to Venture-backed Companies (Morrison & Foerster LLP)
“The [Small Business Innovation Research (SBIR)] program is an award system for funding small businesses that propose and perform research and development that meet criteria specified by agencies within the federal government. The SBIR program envisions three phases for participant companies: Phase I, with up to $150,000 in funds to study feasibility and commercial potential; Phase II, with up to $1,000,000 in funds for additional research and development; and Phase III commercialization through non-SBIR money.” Read on>>

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