Impact of business innovators and doers will be highlighted
SIOUX FALLS, S.D. – The economic success of Small Business Development Centers and their clients will be spotlighted locally and nationally on March 21, the second annual SBDC Day.
The special day will be celebrated in Sioux Falls with a public reception from 9 a.m. to 10 a.m. at the Zeal Center for Entrepreneurship, 2329 N. Career Ave. Refreshments will be available, and staff members from the SBDC, U.S. Small Business Administration and affiliated programs will be available to introduce themselves, answer questions and chat with guests.
The event will be an opportunity for people to learn a little about SBDC services as well as thank business clients, program stakeholders and supporters of the South Dakota network, which has a strong record of performance, said Jeff Eckhoff, state director of the SBDC.
The mission of the South Dakota SBDC is to help entrepreneurs and existing businesses succeed. Staff members offer consulting in areas that include business plans and financial projections. The network also provides specialized advice in government contracting, manufacturing and international trade.
For every dollar the network receives in government funding, it leverages more than $555 into the state’s economy. “When it comes to the amount of capital leveraged for clients per capita, we’re the top-performing SBDC in the country,” Eckhoff said.
The South Dakota SBDC’s annual report for 2017 indicates that the network served 2,179 new clients, helped create or retain 1,381 jobs, and assisted with 102 business starts. That translates to a direct economic impact of nearly $283 million. The impact includes capital investments, new and retained sales, grant awards and federal contracts.
The South Dakota SBDC is an accredited member of America’s SBDC, which is a national network of business-assistance programs. SBDC Day was created by collective proclamation to recognize the success and impact that SBDC offices have in helping small businesses boost economic development. Sixty-three state and regional SBDC networks across the United States provide services to small businesses from nearly 1,000 locations.
The latest annual results show that members of America’s SBDC helped create more than 96,000 jobs and $6.4 billion in new sales. For more information about national performance or SBDC Day activities, see www.americassbdc.org.
The South Dakota SBDC network provides services around the state. The SBDC has regional offices in Aberdeen, Pierre, Rapid City, Sioux Falls, Watertown and Yankton, and satellite offices in Brookings and Mitchell. Affiliated offices include the Small Business Innovation Research program, South Dakota Manufacturing & Technology Solutions, South Dakota Procurement Technical Assistance Centers, South Dakota International Trade Center and the Enterprise Institute.
Here are a few of the many businesses that were assisted by the SBDC or an affiliated program during 2017:
VRC Metal Systems, a growing, high-technology manufacturing company in Rapid City that develops and makes cold-spray equipment.
Double Duty Movers & Portable Storage, an Aberdeen business that started from scratch in 2011 and expanded into a business with annual sales in the hundreds of thousands of dollars.
Drifters Bar & Grille, a restaurant along the scenic Missouri River in Pierre with an attached event center.
Inanovate Inc., a medical technology company in Sioux Falls that was awarded a $2.3 million grant from the National Cancer Institute.
Twisted Canoe Boat Shop, a shop in Watertown started by a paddling enthusiast who turned his hobby of making kayaks and canoes into a business.
Carrot Seed Kitchen Co., a Brookings store that relocated and expanded.
About the Small Business Development Center
For more information about the South Dakota SBDC and its affiliated offices, see www.sdbusinesshelp.com.
The SBDC has regional offices in Aberdeen, Pierre, Rapid City, Sioux Falls, Watertown and Yankton, and satellite offices in Brookings and Mitchell. Other offices and programs in the SBDC network include the Small Business Innovation Research program, South Dakota Manufacturing & Technology Solutions, South Dakota Procurement Technical Assistance Centers, South Dakota International Trade Center and the Enterprise Institute. The SBDC network is an outreach program of the Beacom School of Business at the University of South Dakota.
The SBDC network is funded through the support of the Governor's Office of Economic Development, the U.S. Department of Defense, the National Institute of Standards and Technology, and the Small Business Administration. Xcel Energy provides additional support.
Contact: Jeff Eckhoff / (605) 367-5757 / Jeff.Eckhoff@usd.edu
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