MISSION
Major economic and political changes are transforming the world we live in. Far-reaching trade alliances, the dissolution of major communist block influences, the downsizing of our defense activities, and rapid changes in American industry size and trends are all resulting in a more competitive, global economy here at home.
America's economy is dependent of the vitality and strength of its small businesses. Small firms, able to respond quickly to market changes, create jobs and lead the way in the development of new technologies.
Entrepreneurs are visionaries--men and women who look toward the future to make their dreams a reality. The job of the SBDC network is to help these entrepreneurs see all the possibilities and to offer them the tools and information they need to get the job done. By providing counseling, training and research assistance in the start-up, successful operation and expansion of small businesses and by facilitating export and technology development and transfer, SBDC's strengthen business and economic development in every region and state in the U.S., Puerto Rico and the Virgin Islands.
Benefits and Impact
The SBDC program nationwide has had a positive impact of the nation's economy with over three million people utilizing SBDC resources. A University of Houston study in 1991 indicated that, "sales growth of SBDC clients served during 1988 averaged 209 percent for pre-venture or start-up clients and 22 percent for non-pre-venture clients served by the SBDC network. Growth in full-time employment was 53 percent for pre-venture clients and 16 percent for non-pre-venture clients."
The U.S. General Accounting Office found that 92 percent of SBDC clients made business-related decisions subsequent to contact with the program. Nearly, 70 percent of the clients who made business decisions believed that their experience with the SBDC program affected their decisions in a positive way. Sixty-nine percent of SBDC clients reported overall satisfaction with SBDC services.
The Business of Helping Small Businesses
When an SBDC representative comes to work, he/she may find himself/herself spending the day on an asphalt go-cart track, in a fashion boutique, planning a new restaurant, or on the plant floor.
Core Counseling Services
Through on-on-one counseling services, Small Business Development Centers work with existing and aspiring small business owners within the following core service areas:
- Feasibility Studies - an assessment of the individual's readiness and preparedness to start and support business enterprize.
- Needs Assessment - an analysis of the company's strengths and weaknesses and business opportunities.
- Structuring a Business - a review ogf the appropriate structure for the type of enterprise: sole proprietorship, partnership or corporation.
- Market Research and Market Planning - a thorough consideration of the company's existing and potential markets and a plan for moving products/services to those markets.
- Financial Analysis and Control - an evaluation of the company's past and present financial health and position.
- Cash Flow Analysis and Financial Projections - a critical study of cash flow processes and business operations forecasting.
- Debt and Equity Funding Development - a consideration of the company's financing requirements and opportunities.
- Valuation of Business - broad application of important tools to deterimine value when buying or selling a business.
- Strategic Planning - an extensive definition of the business owner's vision and methods for applying that vision to daily decision-making.
- Accounting Systems - relevant and simple recordkeeping systems for managing the business.
- Management Issues - a look at company policies and procedures, management style, human resource management and organization.