SBDC offers valuable service to small business community
Tuesday, April 01, 2014
by Kelly Weaver, Small Business Development Center Regional Director
Across the United States, there are over 1,000 Small Business Development Center (SBDC) offices providing management and technical assistance to more than one million small business and aspiring entrepreneurs each year. SBDC’s offer no fee face-to-face business consulting and low-cost training on writing business plans, accessing capital, marketing, regulatory compliance, international trade and more. A partnership of federal, state, local resources make these services available to the small business community. Over 96% of the businesses in South Dakota are classified as small businesses.
America’s SBDC program studies the economic impact of in-depth clients, those who’ve received 5 hours or more of SBDC assistance, and results show they are more successful than other businesses. In 2010 and 2011, businesses that received SBDC assistance reported sales increases of 18.9% compared to an average of 4.3% increased sales for businesses in general. Nearly 60% of all pre-venture SBDC clients started new businesses. In South Dakota, SBDC clients served in 2011 leveraged more than $111 million in capital investment, generated over $70 million in sales growth while creating 123 new businesses, 613 new jobs and 671 retained jobs. Over $4.5 million in tax revenues were also generated. Over $3 of tax revenue was generated for every $1 invested in the program, and nearly $75 of capital was leveraged for every $1 invested in the program.
The seasoned staff at South Dakota’s SBDC offices are also part of a larger network offering assistance with international trade, government procurement, research and development, lean manufacturing, investor and equity investment assistance. If you are starting a business or currently own one, the SBDC might be the best contact you can make in 2014. Find an office that serves your county on the Regional Offices page at www.usd.edu/sbdc. At the South Dakota SBDC, your success is our business!
GROW South Dakota is the local host for the SBDC office located in Aberdeen, SD. For all or your business start up questions, please contact the SBDC office at (605) 626-2565.
Category: GROW SD