Some 70 percent of new businesses fail within seven years. Knowing the risks and planning for success is the key. SBDC programs offer workshops to help entrepreneurs in starting down the path to successful business ownership by evaluating business ideas, developing a business plan, and exploring financing options. Practical, convenient, concise and affordable, these group training programs cover topics from Start-up basics, to marketing, accounting/record keeping, financing, and taxes. These workshops are offered at low or no cost on a regular basis.
Review of draft business plans and feedback on the plans strengths and weaknesses is just one of the consulting services available in the SBDC at no charge to the client.
Existing business owners interested in reviewing strategic business processes, increasing sales and/or improving the bottom line can take advantage of the SMART management audit, MarketPlace sales leads, and/or the Fiscal Physical financial analysis.
Assistance from an SBDC is available to anyone interested in beginning a small business for the first time or improving or expanding an existing small business at no cost.
One of the critical issues potential and existing business owners face is financing the start up or growth of a business. Access to capital is provided through the U.S. Small Business Administration and the Small Business Resource Network.
The SBA provides 50 percent or less of the operating funds for each state SBDC, one or more sponsors provide the rest. These matching fund contributions are provided by state legislatures, private sector foundations and grants, state and local chambers of commerce, state- chartered economic development corporations, public and private universities, vocational and technical schools and community colleges. Increasingly, sponsor’s contributions exceed the minimum 50 percent matching share