SBDC Creating Jobs, Growing the Economy

SBDC Update Report Shows SBDC Clients Create Jobs, Start Businesses and Grow the Economy America's Small Business Development Centers (SBDCs) helped in-depth* clients create an estimated 73,377 new jobs; save 93,449 jobs; start 12,763 businesses; obtain $3.3 billion in financing; and increase sales by $7.2 billion in 2007. These are some of the findings of a report on the economic impact of the nationwide SBDC network.

The report also finds that: - Small businesses that benefited from in-depth SBDC assistance experienced more than 17 times the job growth of average businesses (14% compared to 0.8% for U.S. busineses in general) between 2006 and 2007. - More than 54% of all pre-venture SBDC in-depth clients started a business after receiving SBDC business consulting services between 2006 and 2007. - Every $1 spent on the SBDC network enabled small busineses to access $16.77 in new capital. - Small businesses that benefitted from in-depth SBDC assistance experienced sales growth of 20.2% between 2006 and 2007 -- compared to 5.2% for U.S. businesses in general. - SBDC in-depth clients generated an estimated $2.86 in Federal and state tax revenues, as a result of economic growth, for each $1 spent on the SBDC program. In other words, the SBDC program generates more revenue from economic growth than it costs to run the SBDC program. The SBDCs are a partnership that includes Congress, SBA, the private sector, and the colleges, universities and state governments that manage SBDCs across the nation. America's SBDCs provide management and technical assistance to more than 1.2 million small business owners and aspring entrepreneurs each year. Small business owners and aspiring entrepreneurs can go their local SBDCs for free, face-to-face business consulting and at-cost training on writing business plans, accessing capital, marketing, regulatory compliance, international trade and more. About the Report: The report on the economic impact of the nationwide SBDC network is based on a survey of 55,464 SBDC clients who received five hours or more of SBDC consulting services in 2006. The report measures the results of those services during the following year. The report, commissioned by the Association of Small Business Development Centers (ASBDC), is written by Professor James J. Chrisman of Mississppi State University. To read the complete report, click here. _____________ * In-depth clients are those who receive five hours or more of SBDC business consulting services in a year.