As the year starts anew, we thought it would be a good time to introduce ourselves to our many recent subscribers who have asked to receive our newsletter. Our faithful friends and supporters
may also learn something new about us, as we are always adding to our skill sets in order to help grow Georgia’s innovative small businesses.
Humble Beginnings
The Small Business Development Center (SBDC) program concept is based on a simple understanding: small businesses frequently fail in their early years because business owners may not have all the skills they need to make sound decisions. Dean William C. Flewellen of the University of Georgia College of Business Administration championed the creation of a national effort to develop an outreach program that could provide educational opportunities for business owners and prospective entrepreneurs that would help them strengthen their business knowledge. There are now 63 SBDC programs across all 50 states and U.S. territories.
Funding Partners and 17 Office Locations
The SBDC program in Georgia operates from 17 locations across the state. Principal funders are The University of Georgia and the U.S. Small Business Administration. We operate in partnership with six other units of the University System of Georgia:
- Georgia State University
- Kennesaw State University
- Valdosta State University
- Clayton State University
- Georgia Southern University
- University of West Georgia
The University of Georgia SBDC provides management consulting and training to individuals committed to gaining every advantage in a highly competitive marketplace. UGA SBDC business
consultants possess graduate educations in business disciplines and have experience in a wide variety of business management fields. They Continued Inside are focused on helping business
owners learn and apply business concepts as they pertain to each individual’s unique business circumstance.
Areas of Assistance
Assistance is available to firms that are interested in planning for their efforts. Be it a marketing plan, to figure out target markets; sales and pricing strategies; strategic planning, for overall growth; or initial business planning, to guide startup and early stage operations of a company.
Marketing assistance involves helping business owners understand marketing concepts as they apply to their business. Competitiveness, merchandising, advertising and promotion, product development sales, distribution and other elements relative the client’s marketing needs can be addressed. The UGA SBDC also purchases marketing databases that can be used to help business owners identify potential customers, suppliers, and competitors in local, state and national market areas.
Many business owners need to appreciate the collection of good performance data in helping them manage their enterprise. The UGA SBDC can help business owners set up and learn to maintain accounting and record keeping systems in order to track work flow, manage sales, process inventory, and most importantly, manage cash flow.
Financing the growth of a business is particularly critical as most firms cannot grow just based on sales. Debt financing, through banks or alternative forms of borrowing, and equity capital is required at times in order to purchase inventory, make capital investments, or to manage cash through the receivables cycle. UGA SBDC consultants work with business owners to help them develop the data and projections that will help them decide when, if and how much extra capital is needed to help the business grow at a desired rate. UGA SBDC consultants also work closely with lenders of various types to understand what kind of conditions business owners need to meet in order to access capital.
Training Programs & Workshops
In addition to providing assistance in many areas beyond marketing, accounting and finance, the SBDC utilizes different training methods to help groups of business owners to not only learn new business concepts, but to learn from each other regarding the challenges faced by all entrepreneurs. Programs likes SBDC GrowSmart™, SBDC StartSmart™ and our Maximum Series all are multi week, facilitated learning programs that utilize discussion format learning of business principals and strategies. Workshops and seminars are shorter term opportunities to learn about issues such as digital marketing, insurance, human resources, and different management techniques.
If you are interested in growing your business, contact the UGA SBDC office nearest you for assistance: CLICK HERE.
