SBA reports on SBDC benefits

1/18/2012

Last year, more than 557,000 entrepreneurs and small business owners received business advice and technical assistance through the U.S. Small Business Administration's Small Business Development Centers (SBDC).

A recent report by the SBA highlights the SBDC's effectiveness, focusing on its ability to provide small business owners with capital and advice, as well as how it benefits the federal government.

Specifically, the report points out how SBDCs improve local economies, since small business creation leads to employment, more taxpayers and a more diversified economic base.

Also, counseling and advice from SBDC advisers improves an entrepreneur's chances of receiving a small business loan, because "SBDCs have intimate knowledge of what lenders really want and need from borrowers."

Lastly, because of its vast connections to other SBA resource partners, the SBDC program acts as a solid investment for federal government, which covers half of its cost.

"The soundness of our economy depends on stable small businesses across the country and SBDCs are front and center helping entrepreneurs start, grow and expand their companies," said SBA Administrator Karen Mills.  

For instance, the Herald Zeitung reports that the University of Texas-San Antonio's SBDC recently opened in New Braunfels, and the center has seen a "steady stream of new clients" since its mid-November inception.