SBA SBA Technology & Innovation for Small Business 1 — Questions and Answers
Question 1: What SBA program provides research and development funding to small technology-driven businesses?
- SBA 8(a) Program
- Small Business Innovation Research (SBIR) Program (Correct answer)
- SBA Microloan Program
- SBA CAPLines
Correct answer: Small Business Innovation Research (SBIR) Program
The Small Business Innovation Research (SBIR) program funds early-stage R&D at small businesses to stimulate technological innovation and meet federal research needs.
Question 2: What is the primary difference between the SBIR and STTR programs?
- SBIR is for manufacturing; STTR is for services
- STTR requires the small business to partner with a nonprofit research institution (Correct answer)
- SBIR provides larger funding amounts than STTR
- STTR is limited to veteran-owned businesses
Correct answer: STTR requires the small business to partner with a nonprofit research institution
The Small Business Technology Transfer (STTR) program requires a formal collaboration between the small business and a nonprofit research institution such as a university.
Question 3: What is e-commerce and why is it important for small businesses?
- Email marketing automation
- Buying and selling products or services online, expanding market reach beyond local geography (Correct answer)
- Electronic compliance reporting
- Electronic payroll processing
Correct answer: Buying and selling products or services online, expanding market reach beyond local geography
E-commerce enables small businesses to sell products and services online, dramatically expanding their customer reach beyond local markets to national or global audiences.
Question 4: What is 'cloud computing' and how does it benefit small businesses?
- Weather prediction software for agricultural businesses
- Delivering computing services over the internet, reducing IT costs and enabling flexibility (Correct answer)
- A government cloud storage mandate for federal contractors
- A type of SBA technology loan
Correct answer: Delivering computing services over the internet, reducing IT costs and enabling flexibility
Cloud computing delivers IT resources like storage, software, and computing power over the internet, allowing small businesses to access enterprise-grade tools without large capital investments.
Question 5: What does 'cybersecurity' mean for a small business?
- Installing physical security cameras
- Protecting digital systems, networks, and data from digital attacks and unauthorized access (Correct answer)
- Backing up paper files electronically
- Registering a domain name
Correct answer: Protecting digital systems, networks, and data from digital attacks and unauthorized access
Cybersecurity encompasses the practices, technologies, and processes used to protect a business's digital assets, networks, and customer data from cyber threats.
Question 6: What SBA resource provides free cybersecurity guidance specifically tailored for small businesses?
- SBA Microloan program
- SBA's online learning portal and cybersecurity resources at SBA.gov (Correct answer)
- SCORE financial mentoring
- HUBZone certification office
Correct answer: SBA's online learning portal and cybersecurity resources at SBA.gov
SBA.gov provides free cybersecurity resources, courses, and guidance specifically designed to help small businesses protect themselves from digital threats.
SBA SBA Technology & Innovation for Small Business 1
What SBA program provides research and development funding to small technology-driven businesses?