Small Business Development Center at WSCU Reports Impressive Impact
Center consultants facilitated over $5.5 million in local capital formation and helped create and retain over 280 jobs in FY12
The Small Business Development Center at Western State Colorado University in FY12, ending September 30, consulted 113 local businesses, resulting in $5.5 million in capital infusion which includes 20 loans valued at $4.2 million. This performance impacted 283 jobs that were created and retained. Also, 35 new firms were established in FY12 with assistance from the Small Business Development Center at WSCU which serves the Chaffee, Delta, Gunnison, Eagle, Hinsdale, Lake, Montrose, Ouray, and San Miguel counties.
For the same period, the statewide network consulted over 6,000 local businesses in 56 counties, resulting in $103 million in government and private sector contracts, and $105 million in capital infusion. The network assisted in the creation of 1,814 jobs and retention of 2,711 jobs.
The SBDC at Western State Colorado University provides outreach to entrepreneurs offering free one-on-one confidential counseling on marketing, management and human resources, QuickBooks, cash flow projections, loan applications, branding reviews, business plans, plus social media and web site updates.
Clients value the SBA’s investment in their rural communities and send thank you letters regularly. “Thanks to Susan Bony’s marketing expertise, I now have a marketing plan that I know will help my business grow! Even in these tough economic times,” said June Estep, owner of Estep Decorative Painting.
From another letter: “Mary Fisher’s financial expertise supported our firm in documenting complex accounting procedures and breaking out data in QuickBooks to track customers and maintain accurate inventory. Now that our firm's financial records are up to date, we are attracting investors for growth. We now sell to major retailers. We could never have achieved up to date accounting records without Mary's patience and training,” said Kirstie Pike, CEO of Prois Hunting and Field Apparel for Women
“The SBA in partnership with the Colorado SBDC network has worked tirelessly to create and retain jobs especially in these tough economic times,” said Greg Lopez, SBA Colorado District Director. “Each of the centers to do an excellent job in delivering local counseling services and training that small businesses need to help them become successful.”
The Colorado SBDC is comprised of 14 service centers located throughout the state. Tools available to business owners and directors of non profits include sample LLC agreements, sample marketing plans with budgets, three-year cash-flow projection spreadsheets, demographics of each county, customer lists based on purchasing patterns, ring studies to identify census data broken out by circles around your business location, and sample business plans by industry.
“The Colorado SBDC network is a group of professionals that help create job growth,” said Kelly Manning, SBDC State Director. “The centers are phenomenal in moving businesses in the right direction and improving Colorado’s economy one business at a time.”
Primary support for SBDC is provided by the Small Business Administration, the Colorado Governor’s Office of Economic Development, and Western State Colorado University.