2017 01-20 Mid Mich SBDC Greater Gratiot Board
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The Michigan Small Business Development Center (SBDC) provides counseling, training, and research assistance to help small businesses launch, grow, transition and innovate. With 70 advisors located throughout the state, the SBDC aims to support Michigan businesses. The SBDC receives funding from various sources including the Small Business Administration, Michigan Manufacturing Technology Center, and Central Michigan University Research Corporation. Its services help small businesses at all stages and include business plan development, market research, accessing capital, workshops, and more.
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2017 01-20 Mid Mich SBDC Greater Gratiot Board
- 1. SMALL BUSINESS DEVELOPMENT CENTER Helping Your Business Succeed.
- 2. SBDCMichigan.org The Michigan SBDC provides counseling, training and research to assist small business to launch, grow, transition and innovate. With 70 SBDC advisors located throughout the state, the SBDC is well-positioned to help Michigan business grow
- 4. SBDCMichigan.org Key Regional Stakeholders SBA (Federal) 56% MMCC (Cash Match) 8% Indirect & Inkind 28% CMURC (Cash Match) 8%
- 6. SBDCMichigan.org Why Small Business? • 99.9% of all firms • 99.7% of firms with paid employees • 97.7% of exporting firms (297,000 small ex- • porters) • 33.6% of known export value ($471 billion out • of $930 billion) • 48.0% of private sector employees (57 million out of 118 million employees) • 41.2% of private-sector payroll
- 17. SBDCMichigan.org
Editor's Notes
- Our goal today is to provide the MMDC board with a better understanding of the SBDC program
- Our Mission Our main focus is helping companies Access Markets & Access Capital.
- Program history and characteristics 1.3 Background Since its inception in 1953, SBA has served to aid, counsel, assist and protect the interests of small businesses. While SBA is best known for its financial support of small businesses through its many lending programs, the Agency also plays a critical role in providing funding to organizations that deliver technical assistance in the form of counseling and training to small business concerns and nascent entrepreneurs in order to promote growth, expansion, innovation, increased productivity and management improvement. The mission of SBA’s OSBDC, which bears responsibility for administering the SBDC Program, is to provide assistance to the small business community by linking the resources of federal, state and local governments with the resources of the educational community and the private sector. 1.4 Purpose Eligible organizations (as defined in Section 3.2) may apply to SBA for an award of financial assistance under this Program Announcement to fund an existing statewide or regional Small Business Development Center program. SBDC programs deliver professional, high quality, individualized business advising and technical assistance to existing small businesses and pre-venture entrepreneurs. SBDCs shall provide problem solving assistance to help small businesses access capital, develop and exchange new technologies, and improve business planning, strategy, operations, financial management, personnel administration, marketing, export assistance, sales and other areas required for small business growth and expansion, management improvement, increased productivity and innovation.d other areas required for small business growth and expansion, management improvement, increased productivity and innovation.
- Referrals Sources Data Sources
- Why small business? Tend to have limited resources, but play a major role in the economy
- Our key metrics for SBA are STARTUPS and CAPITAL FORMATION (debt and equity financing) This graph is particularly interesting because historically firm births (new firms) have typically outpaced closures. Our efforts aim to both increase starts and minimize closures when appropriate. It should be noted that a certain level of churn is actually healthy. Not all closures are "failures". At times it actually frees up the owner to move on to more fruitful ventures.
- Customized to meet client situation Confidential One on one Transactional or long term (new services as company matures) Industry agnostic
- Your business plan serves as an important roadmap for developing your business. Download our template for guidelines on how to build a meaningful plan. Or request some of our completed samples to see how other entrepreneurs have approached theirs. Our consultants are also available to meet with you and review your plan to ensure it’s realistic and complete. Insert brief Client example (use generic if no release is on file) Mary Jo Gibbons, Stone Lodge Dementia Center in Shepherd. Financing and investment
- Get the information you need to make decisions that drive economic growth in your business. Market research will help you understand where your audiences—and industry competitors—are so you can effectively market your business online and offline. Client story. E and S (generic version as we have no release). Has dug in to secondary data to inform primary customer discovery and development. Industry information Customer profiles and consumption data Financial benchmarking information
- Whether you’re a potential or existing entrepreneur, you’ll find our SBDC specialists are a helpful resource for understanding the range of loans, grants and financing options available to you. Their extensive experience in accounting and banking can benefit you in many ways: from preparing loan packages to analyzing financials to annual budgeting. We want to help clients understand how they can make money before they drain there savings. Client example. Hayden (generic version as we have no release)
- Our no-cost and low-cost training sessions offer the opportunity to learn more about running and growing your business. From securing financing to writing a business or marketing plan to using social media effectively, numerous workshops are offered across the state. Veteran and active military registration is also available at no cost. We serve as a concierge of high quality web-based self serve training options. Our lead center has been developing some high quality live webinar options as well that typically run around 1 hour during the lunchtime timeframe. We also provide in person trainings locally when demand warrants. For instance, we hosted 70 buyers, sellers, and service providers at our Spring "Buying and Selling a Business Conference” Example: Chris Bair
- Our specialized Tech Team helps entrepreneurs bridge the gap between technology development and commercialization. Our Tech Team consists of consultants with a proven track record, focusing on three key areas: access to capital, access to resources, and strategic planning and execution. If you’re a technology company, we’d love to connect you with the resources you need. Client story. ABC in Clare. Pitch assistance
- Our specialists have extensive experience in accounting and banking and offer many benefits to you: from preparing loan packages to analyzing financials to annual budgeting. Our Financial Management Analysis program is also a one-on-one, confidential counseling process designed to strengthen your financial literacy and improve your ability to access capital. Client story. Jim Holton, 2014 BSB credited SBDC for helping him better understand his numbers. Jim is an excellence example of a client that understand show to leverage SBDC benchmarking industry data to make more informed decisions.
- If you’re targeting an increase in export sales for your business, our SBDC Export Specialist Team includes experienced counselors with Certified Global Business Professional (CGBP) and Small Business Administration (SBA) international business certifications. From identifying and penetrating new markets to loan packaging and strategic planning, we can help! We serve two primary targets here, those developing a their first proactive business model to sell abroad and helping those already exporting answer difficult questions and helping them overcome huddles that are impeding their progress. We have strong relationships with state and federal resources so we are uniquely positioned to help a company's navigate what can be a challenging, yet prosperous space.
- Our business counselors can help you design growth strategies and make solid business decisions to realize your goals. Our strategic planning services will help you optimize business performance and put you on the road to success. Client example. Generic from Jose
- This year we are on pace for $5mm and 32 startups.
- - Tony Fox - Regional Director - Regional Management - Financing Assistance - Export Assistance - Amy Fisher - Business Consultant - Triage - Emerging Firms - Buying a Business - Chamber Relations - Jose Navarrete - Growth Consultant - Established Firms - High Growth Firms - Selling a Business - EDC Relations - Alain Piette - Technology Consultant - Tech Commercialization - Tracy Florian - Independent Contractor - Social Media - Event Coordination - Counseling - Using Tech -
- Wherever you are in your business development journey, we'd love to help.