SBA AND MY OWN BUSINESS, INC., TO PROVIDE FREE ONLINE COURSE TO HELP SMALL BUSINESSES

WASHINGTON – The U.S. Small Business Administration and My Own Business, Inc., today announced a joint effort to provide a free, comprehensive online entrepreneurship course for small business owners and aspiring entrepreneurs.

The announcement was made at the Conference on Women Entrepreneurship in the 21st Century, a two-day event offering cutting-edge insights on the most pressing concerns of women business owners. Attendees at the meeting, held at the Ronald Reagan Building and International Trade Center, included women business leaders, owners and entrepreneurs.

The 11-session interactive course was developed by My Own Business, Inc., a non-profit firm founded in 1992 by a successful entrepreneur to develop and provide educational materials on entrepreneurship. The course includes audio sound bytes, quizzes, feedback and an online tool to create business plans, and will be added to the SBA’s online classroom at www.sba.gov/classroom.

“We are committed to providing the best resources to small business owners,” said SBA Administrator Hector V. Barreto. “The SBA will continue to develop its online educational programs with innovative partners to make learning resources widely accessible.”

“We’re thrilled to work with the SBA to foster entrepreneurship,” said My Own Business, Inc., President and CEO Claudia Peters. “Too many businesses fail due to avoidable mistakes. This course focuses on the most important areas of business for start-up and already operating businesses to achieve success.”

Each of the individual components of the virtual business seminar can be pursued in sequence, or independently. The 11 segments are:

1. Deciding on a Business
2. The Business Plan
3. Basic Computer and Communication Tools
4. Organization and Insurance
5. Location and Leasing
6. Accounting and Cash Flow
7. How to Borrow Money
8. E-Commerce
9. Buying a Business or Franchise
10. Opening and Marketing
11. Expanding and Handling Problems

My Own Business, Inc., a nonprofit 501(c)(3) company, was founded by Phil Holland after the 1992 riots in Los Angeles. The successful founder of Yum Yum Donut Shops in 1970, Holland established My Own Business, Inc., to share his expertise and experience in creating successful entrepreneurial businesses with the people whose neighborhoods most required rebuilding and local enterprise. Yum Yum Donut Shops grew from a one-shop operation to become the largest privately owned chain of donut shops in the United States.

The SBA offers a wide array of in-classroom or online technical assistance programs both through partnerships with the private sector and nonprofit organizations. Thousands of small business owners or aspiring entrepreneurs benefit from these programs every year.

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