America's SBDC Launches New Annual Report Showcasing the SBDC Network's Nationwide Impact

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Feb 07, 2023, 09:00 ET

WASHINGTON, Feb. 7, 2023 /PRNewswire/ -- As small business owners navigate an ever-changing landscape, Small Business Development Centers (SBDCs) continue to support and elevate their clients through innovative training programs and advising strategies. Small businesses that partner with their local SBDC get solutions and results that help them thrive. The 2023 America's SBDC Annual Report boasts nearly 700 SBDC success stories covering 11 categories and the network's most recent national economic impact results.

This year's theme is Reimagining Main Street. The focus is on how through dynamic engagement at the local level SBDCs are helping their clients rethink how their business should operate. Nearly 1,000 SBDCs nationwide provide their clients with at-cost training programs and free business advising services. Whether the business is in an underserved or rural community, exporting, an accelerator, women-owned, or a small business affected by a natural disaster, SBDCs have upheld their reputation as a steadfast pillar of support in each state and region.

According to the most recent Chrisman Survey, which collected data from clients in 2020-2021, America's SBDCs clearly provide measurable economic results. Nationwide SBDCs helped generate 85,094 jobs, $10.1 billion in sales growth, $7.7 billion in capital investments, and helped start 14,487 new businesses - proving that SBDCs are leaders in job creation and economic growth.

"Our new report shows the depth and breadth of the SBDC network. The real standout this year was their support in job creation. SBDCs helped create a new job every 6.2 minutes. While the average American business saw its employment levels decreased by 14% in 2021, SBDC clients suffered significantly fewer job losses of 3.1%," said Charles "Tee" Rowe, America's SBDC President & CEO. He continued, "The SBDCs long-standing reputation as a trusted resource in local communities and its' undeniable economic impact is visible on every page of this year's report."

America's SBDCs help make the dreams of small business ownership and growth a reality for more Americans — creating jobs and opportunities that reimagine main streets throughout the nation. See the America's SBDC Annual Report online at www.sbdcimpact.org.

About America's SBDC Program: America's SBDC (Small Business Development Center) Network is a partnership uniting private enterprise, government, higher education and local nonprofit economic development organizations. It is the Small Business Administration's largest partnership program, providing management and technical assistance to help Americans start, run and grow their own businesses. Learn more at www.americassbdc.org.

Press Contacts:
April Youngblut
America's SBDC
(703) 764-9850

SOURCE America's SBDC