SMALL BUSINESS DEVELOPMENT CENTERS (SBDC) The Utah Small Business Development Center (SBDC) is a partnership of the Governor’s Office of Economic Development (GOED) and Utah colleges and universities around the state, with funding in part through a cooperative agreement with the U.S. Small Business Administration. GOED plays a critical role in funding the Utah SBDC program statewide, providing over 20% of the overall program funding, supporting and directing development of the program, and providing the framework for collaboration statewide, especially in rural communities. Rural priorities include supporting market and industry research for rural businesses, helping focus on outreach with an emphasis on small business expansion, reinforcing the need for rural outreach partnerships, including the new USU Extension outreach collaboration with the Utah SBDC program. Utah SBDC Vision: To be the most respected and demanded resource for entrepreneurs to turn to for business guidance and education. Mission: The mission of the Utah SBDC is to strengthen Utah’s economic fabric and quality of life by facilitating the success and prosperity of business endeavors. The Utah SBDC serves the following clients: • Individuals who are already in business and need help solving a business problem. Most frequent topics are: accounting, marketing, research, business plans, budgeting and management/operations. • Company owners and managers who need help in their efforts to expand and grow. • Company owners and managers looking for specialized training opportunities such as HR, accounting, etc. • Minority and disadvantaged existing and pre-startup clients. • Pre-startup clients interested in assessing the feasibility of a business idea.
Success Stories: Guy Collett Guy Collett started working with the Uintah Basin SBDC in November of 2003. In the summer of 2004, with the help of the SBDC, Guy purchased his first assisted care facility, a small facility that had previously been used as an assisted care facility. Soon after opening that first facility, Guy was again visiting the Vernal SBDC for help with accounting, payroll tax and a strategic plan to build a second, new facility. Part of that plan Vernal assisted care facility. was to use the original facility as the base for income and the new facility for overflow, as the pricing would need to be higher due to increased expenses. Once the original facility was operational Guy could see the need and potential as the population ages. While helping with
Governor’s Office of Economic Development • Annual Report 2008
51
