Photo: Terence Strong (left), Business Consultant Sponsored by Fiserv; Donald Lamar (right), Area Director, UGA SBDC at Morehouse
A generous two-year gift from Fiserv will fund the expansion of the UGA Small Business Development Center at Morehouse College through the addition of a new full-time business consultant.
“First and foremost, I want to thank our strong partners at Fiserv for their ongoing generosity and support,” said Kyle Tschepikow, UGA’s executive director for business engagement and innovation. “The positive impact of this gift will be felt by so many individuals and small businesses—well into the future—and we are very excited about this new area of collaboration and partnership.”
The UGA Small Business Development Center (SBDC) at Morehouse is a collaboration between UGA and the Morehouse Innovation and Entrepreneurship Center. The center, which opened in 2020, supports economic growth in Atlanta’s West End neighborhood and the greater Fulton county area. This office is one of 18 UGA SBDC locations across the state.
Fiserv is a leading global technology provider for the financial services industry, driving innovation in payments and processing.
Through Fiserv’s partnership with the UGA SBDC, the Morehouse center was able to create a new full-time position. SBDC business consultants work one-on-one with small business owners, providing a wide range of educational and consulting services to help entrepreneurs meet their business goals.
On average, each SBDC business consultant meets with 100 small business owners, guides 20 new businesses to launch and provides at least 825 hours of consulting services per year.
“Fiserv is helping the UGA SBDC increase capacity to serve more small businesses in Atlanta’s West End neighborhood,” said SBDC State Director Allan Adams. “The creation of this new SBDC business consultant position allows the Morehouse center to provide a greater impact for the small businesses in Fulton county.”
Terence Strong was hired for the new position after a search. Strong brings years of experience as both a financier and entrepreneur. He successfully co-founded, raised capital for and scaled a venture-funded e-commerce startup. He has also taught marketing, finance, strategy and customer development at a tech accelerator.
“I am grateful for the opportunity to join the UGA SBDC at Morehouse team,” said Strong. “I’m looking forward to furthering the economic and community development in Fulton County by providing SBDC services to Georgia’s small business owners and entrepreneurs.”
In 2021, established businesses receiving long-term UGA SBDC assistance experienced an 11 percent increase in sales compared to a -1.3 percent decrease by the average Georgia business. Employment for UGA SBDC-assisted businesses increased by 3 percent, while employment for Georgia businesses overall decreased by 5 percent during this same time.