A statement released today by the American Small Business League criticizes the President's first year policies for small business.

The statement details how Obama made key promises for small business, but failed to live up to those promises. The statement does bring up valid points that every small business owner should be aware of.

Here are the key needs listed in the League's press release:

The Small Business Administration (SBA) has a host of programs and loan incentives targeted at small business.  So, the essential question: what is an SBA small business?

The SBA defines a small business as one that is:

• independently owned and operated
• is organized for profit
• and is not dominant in its field

In the alphabet soup of small business categories and certifications, you may not have heard of the Small Business Administration 8(a) Business Development Program aimed to bolster minority and other disadvantaged businesses through federal contract and other preferences.  

Here are some quick facts about the 8(a) certification program:

The U.S. Senate Committee on Small Business and Entrepreneurship this week held a roundtable discussion addressing the issue of how the federal government can expand the number of federal government contracts that are awarded to small businesses.  The roundtable was hosted by Lousiana Senator Mary Landrieu, who also chairs the committee.

Landrieu has become a leading voice for small business on Capitol Hill.  She helped secure funding for SBA Economic Injury Disaster Loans for businesses affected by Hurricanes Katrina and Rita-- to the tune of $25 million.  She worked on initiatives to reduce fees on SBA loans while laso increasing the SBA loan guarantee on 7(a) loans to 90%, making risk-averse lenders more likely to loan money to small business ventures. And she continues to take a leading role in increasing small business government contracts.

According to E-Verify, a law that goes into effect today, federal contractors and subcontractors must enroll in an electronic verification system to confirm the identity and employment status of employees.  The law was first passed by Department of Homeland Security under the Bush Administration but has faced fierce opposition from small business.  In fact, there have been four delays in a lawsuit brought by the U.S. Chamber of Commerce to squash the bill.

So what do federal contractors need to know about E-Verify?

Scoring a business contract with the government can not only lend stability to a small business but can also lead to future federal contract opportunities.  It is no wonder, then, that small businesses are always actively seeking ways to become more successful in contracting with Uncle Sam.  

In its latest contribution to supporting small business, the Small Business Administration (SBA) is offering the 'inside track' to federal contract awards.  The SBA this week released a new online training video entitled "Recovery Act Opportunities: How to Win Federal Contracts" as part of the federal government's focus on supporting small business. 

The Small Business Administration (SBA) released its latest scorecard showing that the federal government spent a record $93.3 billion in small business government contracts for the 2008 fiscal year, setting a new record.  It reflects a $10 billion increase from the previous fiscal year. 

The large figure, however, hasn't managed to impress all small business critics. 

The Small Business Administration (SBA) announced last month that it was extending surety bond guarantees to federal contracts of up to $10 million.  That's up $5 million from its previous threshold, implemented in March 2009 and slated to run through September 2010 on all public and private contracts. 

Does your small business qualify for the SBA's new surety bond guarantee? Here are some facts about the program.

As many small businesses in California know first hand, the state recently began paying some vendors with IOUs not payable until October. Some, however, need the cash sooner rather than later. Certain banks have agreed to accept them from customers for a short window of time. With fears that IOU sales would explode into a secondary market, the state has set out rules on selling them.

Last week, we discussed the California IOUs being issued to businesses, individuals and county agencies. Those receiving IOUs from the state have identified three primary options for how to handle them:

• Hold on to them until October as intended and eventually collect the 3.75% annualized interest that goes with the IOUs;
• Deposit the IOUs in a bank or credit union (if they bank with an institution that has agreed to accept the IOUs and the window for doing so has not expired); or
• Try to sell them.

This week, California's Treasurer made a new rule for those opting to sell them. Come October, the state will not pay anyone for IOUs issued to someone else, unless they have a notarized bill of sale from the original recipient.