SBA SBA Technology & Innovation for Small Business

Question 1

What SBA program provides research and development funding to small technology-driven businesses?

Accepted Answer

Small Business Innovation Research (SBIR) Program

Answer

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?

Accepted Answer

STTR requires the small business to partner with a nonprofit research institution

Answer

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?

Accepted Answer

Buying and selling products or services online, expanding market reach beyond local geography

Answer

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?

Accepted Answer

Delivering computing services over the internet, reducing IT costs and enabling flexibility

Answer

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?

Accepted Answer

Protecting digital systems, networks, and data from digital attacks and unauthorized access

Answer

Cybersecurity encompasses the practices, technologies, and processes used to protect a business's digital assets, networks, and customer data from cyber threats.

(SBA) Small Business Administration Certified Business Practice Test

(SBA) Small Business Administration Certified Business Practice Test

SBA SBA Technology & Innovation for Small Business