US formally recognises creators in new federal small-business guidance

The US government has issued its first guidance recognising content creators within its small-business system, clarifying which industry code they should use when seeking support from the Small Business Administration (SBA).

Creators were already able to apply for SBA support if they met its requirements, but they lacked clear direction on how to classify their work. Under the new guidance, creator-led businesses whose main activity is making and distributing original audiovisual content should start with the Motion Picture and Video Industries category, then pick the more specific code that best fits their work.

“For the first time, the SBA is recognizing these enterprising content creators within our small-business framework,” SBA Administrator Kelly Loeffler said. “This historic guidance cuts through outdated classifications and gives qualifying creators greater clarity as they build businesses, create jobs, and compete and build for the future.”

The SBA said it is helping qualifying businesses work out their small-business status and find SBA-backed financing.

The move comes six months after the UK updated its own industry classification system to recognise online video. In April, the Office for National Statistics added videos and vlogs made for online platforms to its definition of video production. 

Scott Guthrie, director general of the Influencer Marketing Trade Body, told The Daily Influence at the time that the change would mean less friction for creator-led businesses seeking loans or government support, while helping the government build better data on the sector.