U.S. SMALL BUSINESS ADMINISTRATION SMALL BUSINESS DEVELOPMENT CENTERS (SBDC) OVERVIEW Small Business Act 21. (a) (1) The Administration is authorized to make grants to assist in establishing small business development centers MISSION Created in 1980 as a unique cooperative partnership through which federal, state and local government, the higher educational community, and the private sector could most effectively meet the business, education and management and technical assistance needs of current and prospective small business owners. Carroll Thomas, Associate Administrator SBA Office of Small Business Development Centers March 27, 2014
Counseling SBA s vast counseling and training bonestructure reaches all U.S. small businesses SBA Footprint SBA Field Structure 68 District offices 20 Branch offices 24 Alternate Work Sites * Legend SBA District Offices (68) Small Business Development Centers (938) SCORE Centers (356) Microlenders (199) Women s Business Centers (110) U.S. Export Assistance Centers (19) Veterans Business Outreach Centers (16) National Network 63 Lead Centers 940 Service Center Locations 4,200 Business Advisors and Trainers Region 1 Region 2 Region 3 Region 4 Region 5 Region 6 Region 7 Region 8 Region 9 Region 10 Lead Center Host Organizations 48 Universities and Colleges 8 Community Colleges 7 State Governments
SBDC APPROACH Help entrepreneurs make informed decisions about starting a new venture Assist existing businesses with growth and stabilization/survival strategies Provide support via training, business counseling and access to online resources and tools
SBDC APPROACH Teachers and Coaches Assess Situations Work with entrepreneurs to identify options to solve problems and address identified needs Development of Business Plans Financial Packages Credit Applications* Contract Proposals Strategic Planning Marketing Plans *Assess capital and cash flow needs Assist with development of a business plan, financial forecast, loan proposal, and lender presentation Educate clients on financial ratios and lending criteria used by financial institutions Connect the business owner with appropriate funding sources Post-funding consulting to maximize success and promote an ongoing strong relationship with the bank or other funding source
SBDC APPROACH Strategic Business Planning Financial Management International Trade Government Contracts Commercialization (SBIR/STTR) Exit Strategies and Business Valuation Environmental and Energy Efficiency Capital Acquisition Competitor and Market Analysis
T is for Technology and a great place to collaborate Technology designation may be given to SBDCs that have the knowledge and ability to advise small businesses in the science and technology fields or in high growth industries. Many other SBDCs without T designation also support technology commercialization SBTDCs support the Small Business Innovation Research and Small Business Technology Transfer research and development programs. Grand Valley State University Michigan SBTDC Inter American University of Puerto Rico Puerto Rico SBTDC North Carolina State University North Carolina SBTDC Ohio Department of Development Ohio SBTDC University of Arkansas Arkansas SBTDC University of Maryland Maryland SBTDC University of Missouri Missouri SBTDC University of Pennsylvania Pennsylvania SBTDC
SBDC RESULTS FY 2013 Counseled and trained 532,377 entrepreneurs of which 67,208 received more than five hours of business advisement According to a 3-year longitudinal impact study these clients receiving 5+ hours of advisement: Report greater increases in revenues and profit margins Retain more staff Hire more employees Helped entrepreneurs create more than 14,294 new businesses Assisted small businesses in the acquisition of $4.5 billion in capital
Thanks!! Questions Carroll Thomas Associate Administrator SBA Office of Small Business Development Centers carroll.thomas@sba.gov 202-205-6766