Nearly 11,000 aspiring entrepreneurs and small business owners benefitted from free, confidential business management advice provided by Pennsylvania’s 18 Small Business Development Centers in 2013, and SBDC can point to an array of success stories and positive results.
But, in releasing its 2013 annual report, SBDC also makes clear that with an 8 percent drop in federal funds due to sequestration, its capacity is diminished.
Altogether, the centers advised 10,966 entrepreneurs and businesses in 2013, providing nearly 110,000 hours of consulting. Most participants were very small ventures, with fewer than six employees, and most requested help with developing a business plan. More than half — 55 percent — were operating in the service industry. Many were women-, minority- or veteran-owned.
SBDC reports that the number of advisees fell by about 1,000 from 2012. The number of educational programs and attendees fell, too.
“Automatic, across-the-board spending cuts to federal funding took a toll on our program last year…directly impacting services to Pennsylvania’s small business owner,” said PA SBDC State Director Christian Conroy in a statement.
Still, client-obtained financing grew to more than $138 million and client government contacts rose to more than $305 million.
Success stories included the Gannon University SBDC, which helped McKean Veterinary Hospital in Edinboro raise $960,000 to expand operations. The Bucknell University SBDC helped the father-daughter founders of Upper Desk in Hughesville with patent and market research for their product. And in Philadelphia, the Widener University SBDC helped the AAA School of Trucking navigate the federal procurement data system and find new opportunities.
SBDC says it is seeking “stable federal funding” for the 2015 fiscal year in order to “best serve entrepreneurs and small businesses in Pennsylvania and nationwide.”
Source: Kelly Cofrancisco, SBDC
Writer: Elise Vider