Small Business Administration (SBA) resources, such as the SCORE program, are super valuable for OTPreneurs looking to start and grow their businesses. We highly recommend the SBA’s 10 Steps to Starting a Business Guide. If you’re ready to learn, go there now, it's free!
SBA Resources
If you need more convincing, read on so we can tell you what the SBA and your local location, called the Small Business Development Center (SBDC) have to offer you:
- Free Mentoring: SCORE provides free mentoring services. OT’s can receive guidance on various aspects of business development, including help with deciding how to start a side gig.
- Business Planning: You can use SBA resources to develop a comprehensive business plan. This includes defining their niche, target market, and financial goals - it’s really important to begin with the end in mind and a business plan helps with that.
- Financial Guidance: The SBA can provide resources for understanding business finances, including how to set up business bank accounts and manage taxes. They can also offer insights into creating a sound financial plan.
- Community Connections: The SBA and its programs, such as SCORE, can help you connect with your local communities, other business owners, and potential referral sources.
- Identifying Needs: The SBA can help identify the specific needs of a business and connect you with entrepreneurial service organizations (ESOs) that can help you. Every community is a little different, but that’s what the SBA is great at connecting you, locally.
- Legal and Compliance: While practice acts are our primary legal document to lean on that's specific to OTs, the SBA can help with basic legal and compliance requirements around business that everyone needs to attend to.
- Marketing and Outreach: The SBA can provide insight on how to connect with different community resources for marketing and outreach.
- Specialized Support: SBA resources can help identify data that may lead you or create specialized services in a niche area that has an unmet market need.
The Take-away
The SBA and your local SBDC are excellent resources because business is business. Don’t shy away from receiving help or advice from non-OT sources. While what you do may be unique to you or to healthcare - business fundamentals are the same. People with experience in business’ of all kinds can be super valuable to the efficient development and growth of your side-gig or business!