Issuu

annual report

2021

Who We Are

South Carolina Small Business South Carolina Small Business Development Centers by Region Development Centers by region Gr

Cherokee

Spartanburg

ille

York

Winthrop Region

Pickens Oconee

Chester

Florence Myrtle Beach Rock Hill Georgetown*

ar M

Union

Lancaster

Anderson

Darlington

Kershaw

w en

Lee

d oo

Abbeville

Richland

Saluda

Marion Florence

Sumter

Horry

Lexington

ick

m or

Clemson Greenville Spartanburg Greenwood

Dillon Newberry

e Gr

Clemson Region

Laurens

Calhoun

Aiken

Williamsburg

Clarendon

Georgetown Orangeburg Barnwell

Berkeley

Bamberg

Allendale Colleton

SC State Region

Hampton

Orangeburg Walterboro*

*Part-time Satellite Center

Charleston

Jasper

Beaufort

USC Region

Aiken Beaufort Charleston North Charleston Columbia Hilton Head Newberry Sumter Lexington*

The South Carolina Small Business Development Centers (SC SBDC) advances the state’s economic development by providing entrepreneurs no-fee consulting services, affordable training programs and access to an array of valuable resources. The SC SBDC operates as a cohesive network, offering clients at every stage of the business life-cycle (from pre-venture and early-stage to established and mature) confidential access to the combined wisdom of about 50 professionals located in 20 centers throughout the state’s 46 counties.This collaborative approach establishes the SC SBDC as the preeminent provider of essential consulting services including business and strategic plan development, cash flow management, access to capital, loan packaging, diversification strategies, marketing/promotion and succession planning, to name a few. Underpinning these core competencies, the SC SBDC operates specialty programs fostering exporting, technology commercialization, government contracting, manufacturing, veterans’ business assistance, cybersecurity and minority outreach.

Thank you to our host universities.

contents: 1 Michele Abraham

5 News and Network Updates

2 Economic Impact

9 SC SBDC Annual Awards

State Director, SC SBDC

Advisory Board

3 Harry M. Lightsey III Secretary, SC Commerce

4 Dr. Barbara Adams Consortium Chair

10 Client Success Stories 17 COVID Success Snapshots

In appreciation of Frank L. Roddy for his leadership and support in the creation of the SC Small Business Development Centers

Message from SC SBDC State Director

Michele Abraham

We all know the saying, “It takes a village to raise a child.” That same sentiment is true when it comes to commerce —it takes a community to raise and grow a small business. Here in South Carolina, we are incredibly fortunate to have a team of local, regional and statewide partners committed to cultivating successful small and mid-sized companies (SMEs). We routinely collaborate to identify new and improved ways to help SMEs overcome challenges and achieve their strategic goals, regardless of their location, type of business, industry or aspirations. This teamwork enables us to leverage our collective resources to maximize the support we provide to the clients we serve, especially since the pandemic. In 2021, while continuing to deal with a multitude of issues resulting from COVID-19, the SC SBDC worked closely with our partners to help 5,870 clients improve and implement eCommerce, marketing initiatives, business planning, diversification efforts, bookkeeping and financial documentation systems, cash flow management, and more. We also expanded services to help businesses access capital, protect intellectual property, install cybersecurity safeguards, pursue government contracts and explore international trade. The result was 2,928 jobs created and retained, $67.1 million obtained in capital formation, 222 new businesses started and $54.7 million generated in increased revenues. I would like to specifically acknowledge Dean Barbara Adams of South Carolina State University, who has served as the Chair of the four-university SC SBDC Consortium Advisory Board for almost five years. Dr. Adams has worked with and championed the SC SBDC for more than 20 years. She understands the value and challenges of the program, and her leadership has been vital to our progress. We will miss her as she steps down at the end of June, but we wish her the very best. In closing, to our many partners and supporters, your advocacy and collaboration help enable SBDC staff to deliver world-class services to SMEs statewide. Together we help dreams come true and achieve measurable economic growth statewide. Go team!

Michele Abraham State Director SC Small Business Development Centers

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2021 economic impact

ADVISORY BOARD Jim Rohrer, Board Chair, Senior Credit Team Lead, TD Bank Gary Breit, Vice-Chair, Principal, Breit Ideas, LLC Steve Bailey, CEO & Chairman, Merus Refreshment Services, Inc. Cynthia Blair, Blair Cato Pickren Casterline, LLC R. Cal Bruner Jr., Realtor, Century 21 The Moore Group Mike Forrester, President/VP, Economic Development, Spartanburg Community College Courtney T.R. Furman, President, Furman Architects JoLee Gudmundson, President & Owner, Gudmundson Consulting Rachelle Jamerson-Holmes, Owner, Thee Matriarch Bed and Breakfast Frank Knapp, President & CEO, SC Small Business Chamber Douglas Lineberry, Partner, Burr & Forman, LLC Neil Rashley, Senior Vice President & Counsel, SC Bankers Association Ray Reich, Downtown Development Manager, City of Florence April Simpkins, President, HRS&S Consulting LLC Ashely Teasdel, Director Business Services Division, SC Department of Commerce Gregg White, Honorary Member, SC District Director, Small Business Administration

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Message from Secretary of SC Commerce

Harry M. Lightsey III

At the South Carolina Department of Commerce, our mission is to create economic opportunities to increase choices for all South Carolinians. Our vision is to embrace the future to ensure South Carolina’s sustainable advantage. Steve Jobs once said, “Great things in business are never done by one person. They’re done by a team of people,” and I agree. To meet the promise of the agency’s mission and vision takes a collaborative effort. In no case do we work more closely than with our partners at the SC Small Business Development Centers (SC SBDC) and other members of South Carolina’s economic team to champion our innovators and entrepreneurs in rural, suburban and urban communities across the Palmetto State. As Secretary of Commerce, I am honored to celebrate our partnership and address SC SBDC stakeholders in your 2021 Annual Report. The SC SBDC serves as our boots on the ground for South Carolina’s small businesses. Your consultants work diligently to help small business owners pivot when facing challenges, adapt to fluctuating market dynamics, or seize new opportunities so they can continue delivering the products/ services South Carolinians rely on daily. This commitment to excellence is why the SC SBDC consistently, year after year, excels in key performance areas such as clients assisted, new business starts, financing obtained and jobs created. And your diligence in nurturing the aspirations of entrepreneurs from every walk of life is underscored by innovative new programs, including The BRIDGE, Community Navigator and your joint initiative with the South Carolina Hispanic Chamber of Commerce and SC Commerce to launch a Hispanic SBDC Center in Greenville. Thanks to inclusive endeavors such as these, the SC SBDC's client base in the past six months alone was 50.9% women, 50.2% minorities, 17% veterans/disabled veterans and 5% Hispanic. Our team is grateful for the SC SBDC's fidelity to creating economic opportunities for all South Carolinians and sustaining a statewide business-friendly climate. You are vital to ensuring that the dream of owning a thriving small business is within reach of every resident, whether South Carolinian by birth or by choice. In the coming years, I look forward to further expanding SC Commerce's partnership with the SC SBDC as we work together to make our mission relevant for all South Carolinians.

Harry M. Lightsey III SC Secretary of Commerce

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Message from SC SBDC Consoritum Chair

Barbara Adams

This year marks my fifth and final year serving as the SC SBDC Consortium Chair, and I am as honored and gratified today to serve in this position as I was on my first day in this role. I have been affiliated with and a champion of the SC SBDC network for more than 20 years and remain in awe of its capacity to galvanize entrepreneurs, enrich communities and cultivate flourishing Main Streets from the Upstate to the Lowcountry and townships in between. During my tenure as the Consortium Chair, I have observed the network expand its service offerings, enhance its dynamic team of compassionate, knowledgeable consultants and develop inclusive programs that enable a broader cross-section of the population to realize the American Dream. Much is expected of SC SBDC consultants, and I am proud to say that they steadfastly deliver day in, day out. It has been a privilege watching as they help entrepreneurs transform their flashes of inspiration into viable businesses—businesses that invigorate neighborhoods, create jobs and spur the economy. Coretta Scott King said, “The greatness of a community is most accurately measured by the compassionate actions of its members.” In good times and bad, small business owners embrace this. You may not see their names on stadiums or imposing skyscrapers, but you are likely to see them on the uniforms of local Little League teams and high school scoreboards. They are the delis and salons, farmers, childcare centers and manufacturers that, with the SC SBDC’s support, seize opportunities, overcome challenges, manage growth, and envision a gratifying and sustainable future. ‘They’ are small businesses and the engines of South Carolina’s economy. Finally, it has been an honor serving as the SC SBDC Consortium Chair. The journey I have shared with Michele and her team has been uplifting, educational, transformative and, above all, memorable.

Barbara L. Adams, Ph.D., CPA Dean & Professor of Accounting SC State University

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"I think the Carolina's GCAP initiative is a great idea and will certainly benefit our business community! There are many opportunities with state and federal contracting especially for our small businesses! Great job!" - Representative Leon D. "Doug" Gilliam

Government Contracting in the Carolinas The SC SBDC and North Carolina Small Business and Technology Development Center (NC SBTDC) have jointly launched their Government Contracting Assistance Programs (GCAPs) to help small businesses throughout the Carolinas sell to federal, state and local governments.

GCAP counselors located throughout South and North Carolina help clients: Search government databases to identify opportunities Prepare capability statements Review bids and proposals Address contract performance issues and prepare for audits

Identify eligibility for economic development programs and complete applicable certifications Research contract award histories Provide “up to the minute” information on procurement processes and procedures

Working together, GCAP business consultants provide a comprehensive array of business development services—addressing topics such as finance, marketing, and management—to help companies succeed in the government contracting arena.

Clients Graduate from the SC SBDC’s Entrepreneurial Pathways Program In December 2021, the Greenville Chamber conducted its annual Minority Business Accelerator (MBA) graduation ceremony which celebrated seven MBA graduates and seven graduates from the SC SBDC’s Entrepreneurial Pathways: Strategic Foundations program. During the presentations portion of the event, MBA Program Administrator Dr. Nika White presented the MBA Partner Award to the SC SBDC and specifically recognized Greenville Area business consultants Earl Gregorich and Kostas Ioannidis for their ongoing contributions to strengthening and expanding the region’s minority entrepreneurial community.

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SC SBDC Opens Chapin Satellite Office The SC SBDC opened a satellite office in Chapin, SC, to provide consulting services to small business owners in the area. In partnership with the Chapin Chamber of Commerce, this initiative is being led by Senior Business Consultant Beth Smith, who currently offers appointments every Tuesday and intends to increase her availability as demand grows. Chapin Chamber of Commerce Chairman of the Board, Nancy Williamson, was the former manager of the Newberry Area SBDC for nine years. Her firsthand knowledge of the SBDC's extensive resources inspired the idea for a new office in Chapin—and having worked with Smith since 2010, she quickly endorsed her colleague for the job. The two knew that Lexington County would be an ideal SBDC location, given that the northwest side of Columbia is the highest growth corridor in the region. Chapin Chamber of Commerce President and CEO Paul Sadler agreed and is thrilled to welcome Smith to the Chapin community.

Beth Smith's wealth of knowledge in all types of business will be an asset to all those who have a business or those thinking of starting a business. - Chapin Chamber President Paul Sadler (from left: Chapin Mayor Al Koon, Chairman of the Chapin Chamber of Commerce Board of Directors Nancy Williamson, SC SBDC Business Consultant Beth Smith, Chapin Director of Communications Nicholle Burroughs, President and Director of the Greater Chapin Chamber of Commerce Paul Sadler)

Smith has been with the SC SBDC since August of 2008 and managed the Spartanburg Area SBDC for eight years. In 2016 she was named the SC SBDC’s State Star, a top honor recognized nationally. In 2021, Beth provided 767 hours of counseling to 160 clients, and helped them increase revenues by $31.1 million, create 40 new jobs, retain 14 jobs and she conducted training sessions for 17 individuals.

"I believe in the SBDC Program! Over the years they have helped many of the businesses in our community. Ben Smith, with the Clemson SBDC, was my go-to resource for information on CARES Act funding relief programs to help local businesses survive the pandemic. Many are still in business today due to the tremendous work of the SBDC across our state. Thank you for your dedicated Service!"

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Utilizing a “hub and spoke” model the SBA’s Community Navigator Pilot Program will equip and empower South Carolina’s historically underserved entrepreneurs The SC SBDC is pleased that the South Carolina Association for Community Economic Development (SCACED) was awarded a $2.5 million grant from the U.S. Small Business Administration (SBA) to serve as the ‘hub’ organization for South Carolina’s Community Navigator Pilot Program (CNPP). As part of the CNPP, the SC SBDC has been designated as one of the state’s eight participating ‘spoke’ organizations responsible for better connecting historically underserved entrepreneurs with critical resources. “The financial fallout from the pandemic hit small businesses in rural and underserved areas particularly hard,” said SC SBDC State Director Michele Abraham. “Empowering marginalized entrepreneurs is a top priority for the SC SBDC. Before we can turn the page on this crisis, we must first level the playing field and create a more equitable small business economy.” The CNPP is part of a $100 million American Rescue Act initiative to help reduce the barriers that underrepresented and underserved entrepreneurs face.

Greenwood Area SBDC Named SC Center of the Year The Greenwood Area SBDC, managed by 2020 State Star Ben Calhoun, was named the SBA’s 2021 SBDC Center of Excellence and Innovation for South Carolina. Presented during a virtual awards ceremony hosted by the South Carolina Chamber of Commerce and the SBA South Carolina District Office, this award recognizes the Greenwood Area SBDC for its innovative programs and commitment to building thriving, sustainable small businesses. “The Greenwood Area SBDC responded to the pandemic with energy and conviction— supporting not just the short-term survival of its clients but also their long-term success,” said SC SBDC State Director Michele Abraham. In 2021 the Greenwood Area SBDC—the go-to provider for small to medium-sized businesses in six counties—exceeded all its key performance goals, received a 94.7 percent client satisfaction rating and helped retain a record number of jobs in a rural community struggling with unemployment.

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The SC SBDC is collaborating with the Commission for Minority Affairs, South Carolina HBCUs, lenders and other partners on The BRIDGE initiative to uplift the economic impact of African American businesses and entrepreneurs by improving their access to capital (a leading issue for African American business owners), finding solutions to their business challenges, encouraging dialogue, cultivating networking opportunities and ensuring business owners are embraced by the communities they serve. The SC SBDC invites all African American small and medium-sized business owners to support The BRIDGE program by accepting the challenge to pursue goals that advance both their businesses AND local communities. "The SC SBDC pledges to invest its time, talent and resources into each business that accepts the challenge to participate in this initiative," said SC SBDC State Director Michele Abraham. The HBCU community (students, faculty, staff and local communities) and other partners play a key role by helping the SC SBDC promote and facilitate essential components of The BRIDGE.

The BRIDGE Program Services: The BRIDGE Primary Objectives: 1.

Expand outreach and

Enhance and tailor business

Engage African Americans

awareness of small business services in underserved African American communities throughout South Carolina

assistance to meet the needs of African American entrepreneurs

in the challenge to pursue goals that advance both their own businesses AND local communities

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SC SBDC Annual Awards During the 2021 annual awards ceremony, SC SBDC State Director Michele Abraham recognized consultants, clients and partners for their significant contributions to the network At its annual awards ceremony, the SC SBDC named Beaufort Area Manager and business consultant Martin Goodman State Star for 2021, a distinction imparted by his peers. Goodman was recognized for his outstanding performance as a business consultant, enthusiasm for representing the network in the Beaufort business community, contributions to local economic development and longstanding service to the network.

“Martin has been a tremendous asset to the SC SBDC for 30 years,” said SC SBDC State Director Michele Abraham. “For 11 years he served with distinction as the UofSC Region Director, rallying a cohesive team, motivating them to generate impressive outcomes and inspiring them—through his example—to be reputable ambassadors of the SC SBDC.”

In 2020, despite the pandemic, Goodman exceeded all his KPI goals. In the Core program alone, he helped 92 clients start seven new businesses, create 52 jobs and retain five, secure $4.75M in financing and increase their combined sales by almost $2M. Under the CARES Act, Goodman provided COVID recovery assistance to an additional 56 clients, which effected the retention of 130 jobs and appropriation of $1.33M in disaster relief loans.

MVP Award Winners UofSC Region Robert Jones Charleston Area SBDC Winthrop Region Charles Page Florence Area SBDC Clemson Region Andrea Galehouse Greenville Area SBDC SC State Region Dolline Tucker Orangeburg Area SBDC

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Lead Center Sonya Belk

SC SBDC Annual Award Winners Rising Star Award Bob Jones Columbia Area SBDC Individual Achievement Award Pat Cameron Hilton Head Area SBDC Perserverance Award Gary Robinson Orangeburg Area SBDC Center of Excellence Greenwood Area SBDC Leadership Award Earl Gregorich Greenville Area SBDC Partner of Distinction Award Erin Ouzts Director of Upstate Entrepreneur Ecosystem Ten at the Top

Industry: Convenience Store, Grill Challenge: The client wanted to purchase an existing store and make upgrades that included accepting EBT benefits, selling beer/wine and becoming a lottery retailer. The client also wanted to make this business model scalable so that he can replicate it in future franchises. Approach: Consultant helped his client develop a business plan with financial projections, compile a loan package to purchase the store, conduct market research, identify product costs (estimated), complete a pro forma and obtain an alcohol license.

For many years, Siders had aspired to run a small business just as his uncle had—so when he learned that a local convenience store was on the market, he jumped at the opportunity to buy it. Full of entrepreneurial spirit, Siders already had ideas for how he could enhance the services and product offerings at Dave’s Grill and Grocery, but he needed help developing a plan that would propel this vision forward. Fortunately, SBDC Business Consultant Brent Hoover was able to assist.

Once the two had met and discussed Siders’ ideas, they got to work: Hoover helped his client draft a business plan, calculate financial projections and research the market breakdown of different products to determine which would be most costResults: • Business Purchased effective to sell. They also completed a pro forma, • Financing Obtained: $600,000 obtained an alcohol license and prepared a loan • Annual Sales Increase: $78,850 package that would eventually result in a $600,000 • Jobs Created: 2 full-time loan from the South Carolina Business Loan Fund. • Jobs Retained: 2 part-time Siders used this infusion of capital Services Provided: to finance the purchase of the building, property and business itself. > Business Purchase Assistance Operating under its original name, Dave’s Grill and Grocery is more > Business Plan Development popular than ever. Siders continues to refine his operations, and also > Financial Projections hopes to scale his business model for future replication. Specifically, his ambition is to open additional franchises in the underserved > Market Research > Loan Application Preparation areas of South Carolina.

dave’s grill & grocery

As Vice Chairman of the Aiken County Council, Andrew Siders was well aware of the SC SBDC’s strong presence in South Carolina—but it wasn’t until he decided to purchase a business of his own that he discovered the full extent of its resources.

Aiken Area SBDC Client - facebook.com/DavesGrillandGrocery

county councilman takes the leap

Siders attributes much of his learning to the assistance he received from the SC SBDC and his consultant Brent Hoover, who he says “was fantastic, always calling and checking in.” “Working with my consultant Brent Hoover was an absolute pleasure. He was informative, helpful and eager to share his expertise. The student research team provided me professional-grade marketing insights. I simply could not have launched my business without the support I received from the SC SBDC.” Andrew Siders, Owner Dave’s Grill and Grocery

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Orangeburg Area SBDC Client - microledonfarm.com

microledon farm

life grows on Oscar Chavez began gardening in 2019 to provide sustainable, nutritious fruits and vegetables to his wife, Michele, who was pregnant with their son at the time. He soon realized that the larger community could also benefit from the food he was growing. Thus, Microledon Farm was born. Chavez first grew microgreens indoors, where he used LED lights and a “flood-and-drain” watering Industry: Farming system to conserve resources while maximizing his Challenge: Client wanted to expand yield. Then, in 2020, he expanded his operation to from growing microgreens indoors to a outdoor farming. full-scale, outdoor farming operation. He needed help navigating grants, developing a business plan and Chavez had the vision and drive to build a thriving devising an expansion strategy. business but needed guidance from a small business professional. So, following a colleague’s Approach: Consultant helped his client suggestion, he contacted the SC SBDC and became obtain $214,400 in grants and loans, well-acquainted with the network’s plethora of launch a no-contact home-delivery resources—including SC State Region Director and service and increase revenue streams through creative “market gardening.” Business Consultant Jim Johnson. Results: Johnson got to work immediately, helping Chavez • Annual Sales Increase: $19,186 • 50% Annual Sales Increase create a business plan, calculate financial projections, • Jobs Created: 1 full-time conduct market research and develop an effective marketing plan. He connected his client with the Food Hub Network (including Grow Services Provided: Food Carolina), and helped him apply for the USDA Value-Added > Business Plan Development Producer Grant (VAPG). Chavez was awarded $82,203 from this program, and also received a VAPG Cash Match loan for the > Financial Projections same amount. These funds, combined with an additional $50,000 > Loan Application Preparation COVID-relief loan that Chavez also qualified for, enabled him to pay > Market Research for post-harvest labor, supplies and the transporting of his goods. It also freed up existing capital, which Chavez is using to underwrite > Marketing Plan advertising, promotion and website development expenses. With the SC SBDC’s support, Microledon Farm has seen tremendous growth—including a sales increase of over 50% in 2021 alone. The farm now provides fresh food to 19 restaurants, offers a home-delivery subscription service and has been approached by distributors and farmers’ markets alike. With Johnson by his side, Chavez’s business is on track to continue increasing its customer base and product offerings. “Jim Johnson steered me in directions I didn’t even know existed. Thanks to his farming expertise, I was able to figure out the vision for my business and a realistic plan for achieving it.”

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Oscar Chavez, Founder/Operator Microledon Farm

“Jarod is so capable, all he needed was some guidance,” said Blumberg. “He had not recognized the importance of good financial records, so I advised him to take the time to organize his business and explained the elements of a good business plan.”

stukes dynasty

With over 19 years of experience in transportation, logistics and retail management, Jarod Stukes started Stukes Dynasty Transportation, LLC to help people and businesses in his community reduce waste, conserve energy and prevent pollution. The company, which offers junk and debris removal as well as pick-up and delivery services, opened for business in October 2020 and has already seen Industry: Debris Removal impressive growth in its first year. Challenge: Client previously owned a trucking business but became Stukes, a US Army veteran, had 15 years of overwhelmed and closed. He now experience moving cargo over thousands of miles in wanted to start a new business. Iraq—what he lacked was the knowledge to kickstart Approach: Consultant helped client file a new business. Having formerly attempted to start a legal documents necessary for starting a business by himself, Stukes decided to take a different business and discussed legal structure approach by contacting the SC SBDC. Fortunately, choices, business insurance and Sumter Area SBDC Business Consultant Catherine accounting practices. Blumberg was ready to provide her new client with Results: much-needed guidance. • Financing Obtained: $9,000 • Annual Sales Increase: $33,000 Together, the pair collaborated on a business plan • Jobs Created: 1 full-time, 4 part-time that would allow Stukes to apply for small business loans and grants. Blumberg helped him collect and file the legal documents necessary for starting a business and gave advice about insurance and accounting best practices. She also Services Provided: helped Stukes plan the legal structure of his business, including how he would classify his employees. > Access to Resources

Sumter Area SBDC Client - stukesdynastytrans.com

making “MOVES” for you

> Website Development > Social Media > Cash-Flow Management > Marketing

Taking advantage of the SC SBDC’s network of subject matter experts, Blumberg also referred her client to Charleston Area SBDC Marketing Consultant Robert Jones, who reviewed Stukes’ website proposal and provided feedback on his marketing strategy. As Stukes Dynasty Transportation approaches its first full year in operation, its outlook is bright. Stukes is staying ahead of the curve by continually comparing his services to other companies, and in the next few years hopes to purchase a commercial building and expand his array of services.

“I had a great team behind me and with my consultant’s positive energy and continued support, I knew I had the perfect foundation to expand my business.” Jarod Stukes, Owner Stukes Dynasty Transportation

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Spartanburg Area SBDC Client - croftchristianchurch.org

CROFT CHRISTIAN ACADEMY

A Passion for Christ and children Shannon Luines and her husband, Tyrone, share both a passion and a talent for working with children. So, with the aim of having a positive impact on their community and providing high-quality childcare services in a Christ-centered environment, the couple decided to open an all-day preschool and day care. For help with this ambitious undertaking, the husband-wife team contacted the SC SBDC. Industry: Child Care Challenge: Client needed help developing a business plan, securing financing, obtaining licenses/certifications and understanding industry market dynamics for an all-day preschool. Approach: Consultant helped the client prepare a comprehensive business plan and obtain a sizable loan. Additionally, the Clemson Student Intern Center provided the client with a detailed report on the local day care market.

The Luineses first worked with Business Consultant Beth Smith, who helped them develop an impressive business plan. While this was a big step forward, the couple still needed help calculating financial projections and obtaining funding. So, in mid-2020, when Smith relocated to Columbia for a new job with the SC SBDC, consultant Katrina Meeks seamlessly picked up where Smith left off.

Despite the COVID-19 pandemic, Meeks in many ways exceeded her clients’ expectations. In addition to helping them re-work parts of their business plan, Meeks introduced the two to EIDL and PPP loan opportunities and suggested that they develop a COVID-specific disaster plan. She put the Luineses in touch with several banking partners, and according to Shannon Luines “it was Katrina’s business relationships which paved the way for the $150,000 we received Services Provided: from the South Carolina Community Loan Fund.” > Business Startup Assistance Meeks further demonstrated the benefit of the SC SBDC’s “network > Financial Projections approach” by engaging the Clemson Region Student Intern Center > Loan Application Preparation to conduct extensive marketing research on the local day care > Market Research market. She also connected her clients with SC SBDC Procurement Consultant Scott Bellows, who offered his expertise on the types of > Licensing & Certifications specialty certifications the Luineses were interested in obtaining. Results: • New Business Started • Financing Obtained: $150,000 SCCLF Loan • Jobs Created: 1 full-time, 1 part-time

Although the pandemic delayed Croft Christian Academy’s opening, Shannon and Tyrone hope to begin providing infants, toddlers and school-aged children with faith-based learning and care in the fall of 2022. Meeks continues to advise her clients by providing ideas for promoting their business. “We are definitely more optimistic for the future because of Katrina’s encouragement and business savvy,” said Shannon Luines. “She has tremendously increased my knowledge and boosted my confidence.” “I am extremely grateful for the wisdom, concern and experience my consultant Katrina Meeks shared with me.”

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Shannon Luines, Director Croft Christian Academy Child Care Programs

Although the pandemic cost WZLA many of the live events it normally covers, Greeson is more optimistic than ever: “Greeson Media Group is now involved in everything but print. We’re on track to break every earnings report we’ve established, and next year we anticipate beating 2021’s margins by another 20%.” Greeson attributes much of his success to the aid he received from the SC SBDC.

Greeson media group

The independently owned country radio station WZLA 92.9 FM has served the Abbeville, SC, area since 1989. Today, its CEO Benji Greeson is expanding the station into a multimedia company—but building Greeson Media Group (GMG) has demanded a significant investment of time and money. Greeson was able to self-fund the purchase of a more spacious and technologically-equipped building in 2021, but still found himself needing additional capital as well as help with Industry: Radio and Television Broadcasting developing his business plan. Fortunately, Challenge: Client needed to obtain financing a local connection suggested that Greeson to expand his radio station to a larger location, contact SC SBDC Greenwood Area and also needed help developing a long-term Manager and Business Consultant Ben strategy for creating a multimedia company. Calhoun for assistance. Approach: Consultant helped the client The two immediately got to work, prepare a business plan, assess the feasibility calculating financial projections and of expanding to a new location, compile loan application packets, receive commercial and conducting a feasibility analysis of CARES Act funding and purchase a new facility. Greeson’s proposed expansions. They also analyzed and proposed improvements to Results: WZLA’s marketing strategy. Perhaps most • 2021 Annual Gross Revenue: $300,000 • Annual Revenue Percentage Increase: 30% significantly, Calhoun assisted Greeson • Financing Obtained: $120,000 commercial in applying for and receiving a $120,000 loan, $55,000 CARES Act Grant commercial loan and a $55,000 CARES • Jobs Retained: 2 full-time Act grant. Together, these loans provided the gap funding to make upgrades and renovations while maintaining the station’s current operations. The now state-of-the-art radio station has enabled Greeson Media Group to dramatically strengthen its signal, and thus its reach. The station is also able to produce its own content, which allows its programming to be more relevant to local audiences.

Greenwood Area SBDC Client - wzlaradio.com

FROM RADIO PERSONALITY TO MEDIA GROUP CEO

Services Provided:

> Business Plan Development > Feasibility Study > Financial Projections > Capital Formation > Marketing Research

“Ben was instrumental in helping me create a rock-solid business plan,” he said. “He is very knowledgeable about the steps it takes to get a business off the ground and truly has a heart for seeing businesses succeed.”

“I feel as if without the help I received from the SC SBDC this dream/vision of mine would still be on the runway, instead of soaring into the clouds.” Benji Greeson, Owner Greeson Media Group

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Columbia Area SBDC Client - lexcdcsc.com

lexington child development center

enriching the lives of “future explorers” Born in Georgetown, Guyana, Christine Stewart found a home in Lexington, SC, in 2011. She had an education in accounting, but her true passion was enriching the lives of children. So, to improve her prospects, Stewart pursued a degree in Early Childhood Education and, in 2012, made initial contact with the SC SBDC. With the assistance of several highly-qualified business consultants, Stewart Industry: Child Care successfully launched and operated a home-based Challenge: Client wanted to expand her child care service for the next seven years. home-based operation by purchasing an existing child care business located in By November of 2019, Stewart’s business was doing a 4,000-sq. ft. facility and needed help well, but she aspired to upgrade her services yet again. obtaining the financing to do so. Remembering how transformative the SC SBDC Approach: Consultant helped the client had been nearly a decade earlier, she reconnected with multiple startup requisites: preparing with Columbia Area Business Consultant Bob Jones, a business plan, obtaining funding, this time for help with purchasing an existing child negotiating contracts and calculating care facility in Lexington. The two immediately got to financial projections. work, updating Stewart’s business plan, calculating Results: financial projections and obtaining the funding she • Business Expansion needed to purchase the 4,000-sq. ft. facility. The • Financing Obtained: $194,200 combination of Stewart’s determination with Jones’ • Annual Sales Increase: $78,850 negotiating expertise enabled Stewart to close the • Jobs Created: 4 full-time, 1 part-time deal precisely one year later. Today, Lexington Child Development Center offers children close, personal attention, as well as a safe and secure environment. Stewart works hard to create a fun and educational experience for each child while also ensuring that parents can confidently entrust her with their kids. Since officially launching the center in 2020, Stewart’s primary focus has been managing business functions while navigating the pandemic. Her staff takes as many safety precautions as it can, but it has been challenging to increase—and even maintain—enrollment. Looking ahead, Stewart continues working with Jones to obtain funding for upgrades such as enhancing the security system, installing a playground and offering an after-school program. Both client and consultant expect that the center’s revenue will, at a minimum, double in the next three to five years. “The SC SBDC, and specifically Bob Jones, was instrumental in helping me leverage an opportunity to grow my business. Bob’s attention to detail provided me a solid foundation and, more importantly, instilled in me the confidence that my dream was definitely going to become a reality.”

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Christine Stewart, Owner Lexington Child Development Center

Services Provided: > Business Expansion Assistance > Business Plan Development > Contract Negotiations > Loan Application Preparation

Industry: Car Washes; Restaurant Franchises Challenge: Client initially requested guidance on purchasing two car wash locations. Once these businesses became profitable, client sought guidance on re-investing profits to diversify his holdings. Approach: The consultant conducted market research on franchise opportunities, prepared financial projections, provided guidance on growth strategies, analyzed contracts and researched prospective franchise locations. Results: • 2 New Businesses Started • 5 Franchises Purchased/Started • Total Commercial Financing: $4.73 Million • Total COVID-Related Financing: $287,500 • Jobs Created: 56 • Jobs Retained: 43

Jennings, a controller and auditor by profession, owned a successful retail business and income-generating real estate in the past. In early 2019, he set his sights on two car washes—located in Easley and Seneca—and sold some of his holdings to finance down payments on both properties. To complete the purchases, however, Jennings needed a loan, so he contacted the Rock Hill Area SBDC and received assistance from business consultant Janet Graham. In addition to helping her client compile an in-depth business plan with detailed financials, Graham advised Jennings on personal financial matters he was exploring to underwrite his business purchases. With her assistance, Jennings successfully purchased both car wash locations in April 2019.

jenten

From the age of 18, Ronald Jennings has taken great strides to work for and rely on himself. His commitment to being self-sufficient, combined with his appetite to achieve, have enabled him to join the ranks of a rarified breed: the astute, hugely successful and compassionate entrepreneur.

Myrtle Beach Area SBDC Client

An insatiable appetite for success

By June of that year, Jennings was already seeking to diversify his holdings and re-invest the profits from his two businesses. He was particularly interested in franchising options, so Graham conducted market research on her client’s behalf, helped him formulate a strategy and explained the complex legalities contained in franchise disclosure contracts. In March 2020, the COVID-19 pandemic forced Jennings to close both car washes for four months, depriving him of vital income. As a stop-gap measure, Graham suggested that her client apply for two SBA loans. In total, Jennings received $287,500 in COVID relief which enabled him to retain all 43 of his employees. Despite the pandemic’s negative impact on his car wash operations, Jennings followed Graham’s advice and invested in four Cinnabon/ Schlotzsky’s co-branded franchises plus a franchise for Moe’s Southwest Grill. In February 2021, once again heeding Graham’s guidance, Jennings established JenTen, LLC, a holding company to manage all his existing entities as well as all future acquisitions.

Services Provided: > Business Startup Assistance > Business Plan Development > Market Research > Loan Application Preparation > Financial Projections

“Janet has been an invaluable resource for me over the years. She taught me to never accept ‘no’ for an answer, take chances, build good teams and try to find a better way to do things.” Ronald Jennings, CEO JenTen, LLC

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THE POMPOUS PIG pompouspig.com Clemson Area SBDC Client Woman-Owned Business Veteran-Owned Business

$159,900 EIDL LOAN

$187,200 PPP LOAN

JOBS RETAINED

“Whenever there was an issue with applying for a loan, Ben would reach out to the SBA for a direct contact to resolve it. He is always just a phone call away, very responsive, and available when we need him.” KI M N EW SO M E OWNER, THE POMPOUS PIG

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PRE-CORONAVIRUS BUSINESS SITUATION: Owners Kim and Chet Newsome of the Pompous Pig Barbeque learned about the SC SBDC shortly after first opening their restaurant in 2008. With the help of consultant Ben Smith, the couple has since grown a loyal customer base and enough steady profit to pay off 10 years’ worth of debt. In its 12th year, the business was thriving—until the pandemic hit. “It felt like we were starting over financially,” said Kim. CHALLENGES ARISING FROM THE COVID-19 PANDEMIC: With government mandates forcing their business to close between mid-March and late-May 2020, the Newsomes were compelled to lay off staff; when finally permitted to reopen, the couple still found themselves greatly limited in their ability to serve customers. Not only was the Pompous Pig restricted to operating only 3-4 days per week, but indoor dining capacity limits hurt the business’ ability to break even. The restaurant also experienced the logistical challenges of facilitating curbside pick-up orders, finding adequate supply of PPE and implementing effective sanitation and safety requirements. RESPONSE AND RECOVERY: Kim and Chet wasted no time in contacting Ben Smith. With his assistance, the couple was able to apply for and receive two rounds of PPP and EIDL loans totaling $347,000. Kim attributes these funds, which covered payroll, taxes, rent, utilities and food restocking costs, to her business’ survival. Smith also referred his clients to another resource: the Restaurant Revitalization Fund (RRF). Kim and Chet applied and received an additional $128,000 in funding from this relief program. “Even after PPP and EIDL, we were still way in the hole from a financial standpoint,” Kim said. “The RRF made us whole again.” BUSINESS OUTLOOK: Although uncertain about ongoing recovery and government support, the Newsomes are optimistic about their restaurant’s prospects. “The current challenge has been a persistent staffing shortage,” said the Newsomes, “but we are hoping that by increasing their pay, we will be able to retain existing employees.” The couple said that despite the challenges, they are grateful to be back in business and are excited to again be serving loyal customers their favorite dishes.

BLUFFTON PHARMACY blufftonpharmacy.com Beaufort Area SBDC Client

PRE-CORONAVIRUS BUSINESS SITUATION:

$72,00 PPP LOAN

$154,000 TOTAL EIDL LOANS

4 JOBS RETAINED

“Martin deserves a lot of credit for helping me build financial projections and develop my business plan. I respect his knowledge and experience and if it wasn’t for him, I’m truly not sure I’d be where I am now.” ROBERT VAUGHN OWNER, BLUFFTON PHARMACY

When Robert Vaughn decided to purchase Bluffton Pharmacy in 2018, he contacted the Beaufort Area SBDC for advice. Over the course of 22 months, Business Consultant Martin Goodman helped Vaughn develop a business plan, forecast financials and secure the funding needed to acquire the business, and he finalized the purchase in December of 2019. The COVID-19 pandemic hit shortly afterward in March of 2020, and Vaughn felt fortunate that his business’ affiliation with the health care industry made it less vulnerable than most. CHALLENGES ARISING FROM THE COVID-19 PANDEMIC: Several months into the pandemic, however, Vaughn’s business had suffered a decline in front-end sales, and was also facing staffing issues. “Fortunately, I wasn’t hit too hard financially,” he said. “Most of the challenges I faced involved logistics, such as delayed deliveries and product shortages.” Goodman helped his client navigate these challenges and avert significant business disruptions, but as a new business owner Vaughn was still concerned about the long-term impact that COVID-19 would have on his pharmacy. Once again, he decided to turn to the SC SBDC for assistance. RESPONSE AND RECOVERY: “Our first order of business was to revise my financial projections and adapt my business plan to account for the changing landscape,” said Vaughn. Next, Goodman ensured that Vaughn understood the various federal and state financial relief programs available to small business owners. “Martin was an invaluable resource,” said Vaughn. “He walked me through the complicated application process and was instrumental in helping me receive EIDL and PPP funding.” BUSINESS OUTLOOK: Vaughn’s business survived 2020 relatively unscathed—particularly when compared to restaurants, event venues and tourist-dependent companies. “I realize I was very fortunate,” he said. “The financial impact on my pharmacy was minimal and throughout that very scary, unsettling time, I could rely on Martin to calm my fears, pave my way to valuable resources and recommend strategies for adapting my business model.”

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UNCORK CHARLESTON uncorkchs.com Charleston Area SBDC Client

PRE-CORONAVIRUS BUSINESS SITUATION:

$103,000 PPP LOAN

$10,000 EIDL LOAN

JOBS RETAINED

$24,000 CARES ACT GRANT

“Without the help of Robert Jones at the SC SBDC, I would not be open. I am forever grateful to him. He never left my side.” KEN SC H N EIDE R OWNER, UNCORK CHARLESTON

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Prior to 2020, Uncork was a healthy full-service restaurant and bar with self-serve wine systems that let the customer choose and taste 40 different wines. Owner/ Partner Ken Schneider opened the business in September 2017 so he “could be face to face with customers and provide a service that would make people happy.” With a staff of three full-time and 11 part-time employees, Uncork featured live music three nights a week and was seeing steady sales growth year over year. CHALLENGES ARISING FROM THE COVID-19 PANDEMIC: Like many restaurants and small businesses in Charleston, the COVID-19 pandemic forced Uncork to close its doors. When allowed to re-open eight weeks later, Uncork tragically suffered another disaster when rioters stormed King Street on Memorial Day Weekend. Rioters and looters set fire to the restaurant, inflicting $60,000 in damages that forced the business to close for yet another 30 days. Although his insurance handled the expenses created by the rioters, Schneider called on the SC SBDC for help with the economic damage inflicted by the pandemic. Year-end sales for 2020 were $253,797—down $81,038 from 2019 sales. RESPONSE AND RECOVERY: While working to keep the restaurant financially healthy, Schneider also had to repair the damage caused by the riots. The criminals who damaged Uncork during the riots paid restitution to Schneider, and SC SBDC Consultant Robert Jones worked with Schneider on his disaster assistance applications for Economic Injury Disaster Loan (EIDL), Paycheck Protection Program (PPP) and SC CARES Act funding. Jones also counseled his client on how to communicate the restaurant’s new COVID-19 safety measures. BUSINESS OUTLOOK: Rising like a phoenix from the ashes, Uncork survived the COVID-19 pandemic and King Street riots of 2020. As tourists return to Charleston and local residents emerge from quarantine, Uncork faces a brighter future. “Since Valentine’s Day this year we have set records for biggest days, months and weekends, and we see this continuing for a third month, “ said Schneider. “Past the third month, we expect a plateau but if we level off on the highs, we will be happy.”

COSTUME CURIO, INC. costumecurio.com Greenville Area SBDC Client Woman-Owned Business

75%

ANNUAL SALES INCREASE OVER 2020

$74,900 EIDL LOAN

$34,710 PPP LOAN

$10,895 CARES ACT GRANT

JOBS RETAINED

TRAINING EVENTS ATTENDED

“The SBDC has been my anchor, rudder and lighthouse!” LYDIA LATHAM OWNER, COSTUME CURIO

PRE-CORONAVIRUS BUSINESS SITUATION: Costume Curio has received assistance from the SC SBDC since 1993. Located near downtown Greenville, the shop provides local actors, artists and directors with the costumes and makeup needed to take their performances to the next level. Supported by an experienced and dedicated team, owner Lydia Latham boasts over 30 years of costuming experience. With her creative talents and stellar customer service, Costume Curio has become a must-visit for artists in the community. CHALLENGES ARISING FROM THE COVID-19 PANDEMIC: Theaters and operas were mid-season when COVID-19 cases started to escalate. In an industry that relies almost solely on live events, one venue after the next began cancelling their productions. “As theaters went dark and demand for customized accessories and costumes plummeted, my business took a huge hit,” said Latham, whose once-thriving business was suddenly precariously close to its final curtain call. Fortunately, as a longtime SC SBDC client, she knew where to seek help. RESPONSE AND RECOVERY: To help overcome her business’ financial and logistical struggles, Latham attended over 20 SC SBDC training events and webinars. She also contacted Greenville Area SBDC Manager and Business Consultant Earl Gregorich, who helped her apply for and recieve $109,610 in EIDL and PPP loans, along with a $10,895 CARES Act grant. Having decided early on the importance of retaining her employees, Latham used most of these funds to cover payroll expenses. “People feel more like putting their shoulder to the wheel when you treat them well,” she said. BUSINESS OUTLOOK: Due to the many pivots Latham made during the pandemic, 2021 has been an excellent year for her business. Costume Curio’s online presence has grown, and Latham has also been expanding her network of theater connections—so much so that the business has restored its standing as the “go-to” place for local artists. Latham says that, if not for the SC SBDC and her consultant, Earl Gregorich, the pandemic would have been catastrophic (if not the death knell) for her business. “Earl is accommodating and knowledgeable—if you ask him something, he will either get you an answer or tell you where you can find one,” said Latham. “We couldn’t have continued to do what we do without the SC SBDC.”

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