SBA and My Own Business, Inc., To Provide Free Online Course To Help Small Businesses

March 20, 2002

Internet Address:

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

"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.

For more information about all of the SBA’s programs for small businesses,

call the SBA Answer Desk at 1-800-U-ASK-SBA or TDD 704-344-6640. Also, visit

the SBA’s extensive Web site at