Karen Mills

Karen Mills, head of the Small Business Administration, is stepping down, the White House announced. The SBA administrator thanked her staff in a statement, concluding a tenure that started with her appointment by President Obama in April 2009. The president elevated her position to Cabinet-level status in January 2012.

Mills's departure follows that of the agency's deputy administrator, Marie Johns, who announced her resignation Thursday.

During Mills's tenure, the SBA backed more than $106 billion in loans to small companies, including record years of more than $30 billion worth of guarantees in 2011 and 2012.

Managing a small business can be stressful, confusing, rewarding and overwhelming—sometimes all in the same day. And sometimes all in the same hour.

"Owning and running a small business is hard work," says Karen Mills, head of the Small Business Administration.

But the workload can get easier, and owners can find more business success, when they seek out support and advice.

Those who utilize long-term counselors or tap into peer networks tend to have better sales, Mills says. They also get firsthand stories of what has worked—and what not—in areas such as financing, hiring and buying new equipment.

The recession's grip on small-business owners has loosened, but unemployment remains stubbornly high and access to credit is still tight. To fight the effects of flat sales and weak profit, Small Business Administration chief Karen Mills has been focused on getting smaller firms the capital they need to survive until demand picks up. 

As head of the Small Business Administration, Karen Mills assists small businesses with counseling, financing and access to government contracts.