The Business Development Program has been designed with a view to helping the economically and socially disadvantaged businesses in developing and growing their enterprises. The Program was launched in 1986 and initially was known as the Service to the Poor Fund. Today, the names have changed to Business Development Program and the name is more appropriate. The Program caters to such economically and socially disadvantaged sectors as women-owned small-scale businesses, tribal minorities, small farmers, rural, artisan, and women entrepreneur enterprises.
The aim of the business development program is to make an enterprise grow and profit. This is done by providing technical assistance and financial assistance to these enterprises. Technical assistance means imparting training, managerial skills, and developing resources. Financial assistance means providing loans and other forms of financial assistance. The objective is to develop these enterprises so that they can eventually compete with highly developed multinational companies.
There are various types of support available under the business development program. They include grants, micro-enterprise funds, commercial loans, contracts, training, research and development, marketing strategies, and promotion/ advertising programs. The training is mainly provided through colleges, vocational institutions, trade schools, and workshops. Training can be concentrated on one particular aspect of the business or it can be across all aspects. Micro-enterprise funds refer to the investment in micro-businesses or small-scale businesses, which can generate surplus cash. Commercial loans refer to the commercial banks offering loans at low-interest rates.
The eight (a) business development program helps in the growth of economically and socially disadvantaged organizations. The program also involves eight (a) social development activities. These activities can include: conflict prevention, change desctiption and response, development and strengthening of community, change initiation, inclusion and leadership, gender equality, fair treatment and access to resources. The activities can also include: monitoring and evaluation of programs, building of trust and good relationship among partners, identification of needs, policies, practices and improvements, and developing and maintaining a system for information exchange.
Under the business development program, you can get certified as: manager, business opportunity provider, grant writer, accountant, architect, financial consultant, marketing specialist, project manager, trainer, and project leader. You can get certified by completing the following: (a) business plan, (b) business development program, (c) training programs, (d) technical documentation package, (e) business analysis package, (f) grant proposal, (g) business plan reviews and (h) financial proposal review. To get certified, you should complete the courses under the courses mentioned above. Then, you need to complete the exam complete the exams complete the study work, and then you can get certified. The certification proves that you have undertaken the training and have completed the course successfully.
The Business Development Program offers services to those businesses owned by the socially or economically disadvantaged individuals and the businesses owned by the community. These programs support and help in promoting small scale business owned by the socially or economically disadvantaged individuals and the large scale businesses owned by the community. This is a part of the PMI program. The PMI program offers assistance through: training, technical assistance, advice and guidance, counseling and employment.
The Social Impact Assessment (SIA) is conducted to: identify current issues, evaluate the existing situation, and develop strategies to deal with the issues identified. The analysis results will provide the basis for developing policies and programs that will address the problems facing society. The analysis identifies the areas in which the society is least able to cope with economic challenges. The SBA net worth assessment identifies the areas in which the economically or socially disadvantaged individuals are economically or socially disadvantaged, and is used to evaluate the effectiveness of the government’s social impact programs.
The Public Involvement Program (PI Programs) is a part of the private sector and is designed to support organizations that are engaged in providing information and advice to improve the quality of public life, improve the performance of disadvantaged businesses, increase access to employment for the disadvantaged, and protect disadvantaged businesses and their workers. The program provides technical assistance and education to improve the performance of the disadvantaged, small businesses. Training is provided to improve management effectiveness. Research assistance is provided to improve the quality of information and service provided to disadvantaged businesses and to build new alliances with other interested organizations.