Small Business Development Center marks anniversary 2005 marks the 25th anniversary of the Small Business Development Center Program, the SBA�s largest counseling and training network. The South Dakota SBDC, which began in 1985, is celebrating its 20th year at The University of South Dakota.
The SBDC is the principal business outreach program of The University of South Dakota�s School of Business. A team of professional consultants provides confidential management assistance to the South Dakota small business community in addition to aspiring and existing entrepreneurs in the following areas: individualized counseling, marketing strategies, small business management, financial analysis, technology access and tools. The SBDC works in conjunction with federal, state, local and private sector resources.
Nationally, the program began in 1980 after being a pilot program for three years. The SBDC program has now grown from eight to 63 lead centers and more than 1,000 service center locations in every state, the District of Columbia, Puerto Rico, the Virgin Islands, Guam and American Samoa.
Since 1980, SBDCs have met the needs of more than 11 million start-up and existing business clients.� Between 2002 and 2003, clients who received in-depth assistance from SBDCs started over 15,000 businesses. In fiscal year 2003, SBDC clients generated approximately $4 in new federal tax revenues for every federal dollar spent on program funding, generating an estimated $351.8 million in tax revenue in return for the program�s $88 million appropriation.
Since 1985, the South Dakota SBDC has helped clients obtain more than $320 million in financing, creating or preserving more than 7,990 jobs within the state.�SBDC services enable South Dakota�s entrepreneurs to make better, more informed business decisions, to avoid costly mistakes, and to prepare thorough and complete business plans needed both to obtain financing and to effectively manage their venues.
The SBDC and its approximately 2,000 clients per year appreciate the support provide by USD.
South Dakota and we look forward to the next 20 years of this partnership,� said John Hemmingstad, SBDC state director.��