first student 

Question 1: Amina 

After watching the Legal Requirements for Small Business training course, I understood that is imperative for entrepreneurs to follow the county, state, and federal regulations in order to legally run their small businesses and also understand their responsibilities as active contributors to the global economy. The training course is definitely resourceful for anybody who wants to start a small business. 

If I was starting a new business I will utilize the government platforms such as the department of labor and the SBA websites to gather all the information about all regulations, fees, and taxes, and consult a business counselor if necessary to successful jump onto my entrepreneurial journey in order to avoid any potential conflict or financial damage.

Question 2:

 I have been personally helped by an SBA representative during the covid19 pandemic when I needed help applying for an SBA loan,  my experience was great because I did not know exactly how much loan I actually needed for my business throughout the pandemic but, the SBA agent took the time to gather all my info and helping me determine how I can effectively use my loan and get the desired results. SBA representatives are agents trained to assist small business owners to access business advice, resources, training, and loans. These agents are highly knowledgeable and dedicated to facilitating small business growth. According to the SBA website, the SBA offices have individuals who are always ready to provide guidance and support to increase your odds of long-term success. I strongly believe the support from SBA will continue to help thousands of entrepreneurs to prosper in the coming years.

references:

https://www.sba.gov/tools/sba-learning-center/training/legal-requirements-small-business

https://www.sba.gov/content/find-local-sba-office#:~:text=SBA%20District%20Offices,-SBA's%20District%20Offices&text=Free%20counseling%2C%20advice%20and%20information,of%20Small%20Business%20Development%20Centers.

second student 

The legal requirements from both state and federal governments can be tedious. It can be done by a business owner but it seems better to invest in having a professional do it. The legal ramifications can quickly start to add up financially. It can make the cost for a professional minimal as well as allows for efficient time management. The curious thing is how many people are aware of this information being provided by the SBA. I found it beneficial material for any potential business owner. 

2.

The role I chose was SBA Representative. The SBA is the Small Business Administration. They are the government agency that provides financial assistance to small business owners through various loan programs. In most cases, banks would not be providing these programs due to risk. The type of return isn’t worth it compared to corporate lending. What the SBA does is provide a government guarantee on them which provides the incentive for banks to participate.