Page 1

CLIENT SURVEY

25 YEARS of Supporting, Developing, and Training Entrepreneurs West Texas A&M University

SMALL BUSINESS DEVELOPMENT CENTER

1 SBDC ANNUAL REPORT 2011

ANNUAL REPORT 2011 & CLIENT SURVEY


February 20, 2012

To Our Clients, Partners, and Friends: The WTAMU Small Business Development Center is celebrating twenty-five years of dedicated service! In that span of time, the SBDC has provided an incredible amount of assistance to small business owners and entrepreneurs, and although records from the early years aren’t complete, we do know that the SBDC has logged over 47,000 hours of consulting and presented more than 1,300 seminars and workshops. Just as importantly, it has been the launching pad for some truly great ancillary programs such as the Enterprize Challenge, the West Texas Angel Network, the Entrepreneur Alliance, and Equitrend Capital. We hope to see these programs carry on in the best traditions of SBDC service to our entrepreneurial communities in the future.

And finally, we have again surveyed our clients to get their viewpoint on the economy and the outlook for 2012. I think you will find the following results interesting. Sincerely,

PJ Pronger Director

1 SBDC ANNUAL REPORT 2011

Entrepreneurship today is more important than ever. The Kauffman Foundation of Kansas City has researched the contributions of entrepreneurship in this country and uncovered some incredible facts. Did you know that practically all net new job growth in America since 1980 has come from businesses less than three years old? The fact is, large established businesses are firmly on the path of increasing efficiency, which means they are constantly looking for ways to reduce the number of employees on their payrolls. New businesses, by contrast, are constantly looking to hire the talent that can help them expand. From a cultural standpoint, Kauffman also discovered that Americans have more faith in small business than in large corporations and that most Americans would rather be a small business owner than the CEO of Fortune 500 company.


FINANCE

SBA loan approvals supported $30.5 billion (61,689 loans) in lending to small businesses as of September 30, 2011. The first quarter of the year, at over $12 billion supported, was the most active single quarter ever for SBA-backed loans, with more than four times the dollar volume of the same quarter in 2009 (the first three months of the recession) and more than double the volume of any quarter over the past four years. Source: SBA Press Release #11-58 on October 5

Over the past 15 years angel investors have become significantly more professional, organized, and important to startup ventures. Angels invest their own money into new firms and have backed companies like Google, Twitter, Intel, Apple, and Teledyne when they were barely companies. The Amarillo based Angel group is West Texas Angel Network, a non-profit group of high net worth westtexasangelnetwork.com individuals who review applications for investment on a quarterly basis.

Community Development Financial Institutions are financial institutions which provide credit and financial services to underserved markets and populations. They are certified by the Community Development Financial Institutions Fund at the U.S. Department of the Treasury, which also provides financial assistance to CDFIs through a variety of programs. Equitrend Capital is an Amarillo based CDFI which makes equity investments in early stage panhandle businesses.

equitrendcapital.com

Total Bank Capital

M aki ng Lo an s i n Am a rillo

2

Bank loans (in total dollars) have increased over the past five years but have not kept pace with the growth

Dollars Loaned Out

$10 Billion $8 Billion

in bank capital, due in part to new regulations requir$6 Billion

ing banks to keep larger reserves on hand. WTA&M SBDC 25 YEAR ANNIVERSARY

$4 Billion

(Aggregate data through 9/30/11 from 9 community banks

$2 Billion

with an Amarillo presence .) $0 Billion

2007

2008

2009

2010

2011

$20,000,000

T O TA

$15,000,000

L C A P I TA L F O R M E D

$139,033,518

$10,000,000

25 YEARS OF SERVICE

$5,000,000

No Data 0

1987

1988

1989

Cost for a gigabyte of data storage in 1987:

1990

1991

1992

$61,440,000.00

1993

1994

1995

1996

1997

1998


CLIENT SURVEY

2011 Client Survey

THE LANDSCAPE IN 2011 Just how did our local businesses fare in 2011, compared to the prior year?

2011

Business Description:

RESPONSE PERCENT

Please choose the selection that describes your operation.

Retail Wholesale or

Distribution

Services

4 40 13

Everything else -

16%

13

2011

Sales:

How were your sales in 2011 compared to 2010?

RESPONSE PERCENT

(Total revenues from all business related activities.)

RESPONSE COUNT

2010 RESPONSE PERCENT

RESPONSE COUNT

Up

50%

39

53.2%

59

Down

27%

21

20.7%

23

About the same

23%

18

26.1%

29

2011

Costs:

How were your costs in 2011 compared to 2010?

RESPONSE PERCENT

(All costs of doing business.)

RESPONSE COUNT

2010 RESPONSE PERCENT

RESPONSE COUNT

Up

62%

48

57.7%

64

Down

12%

9

8.1%

9

About the same

27%

21

34.2%

38

2011

Employees:

How was your employee count at the end of 2011 compared to 2010?

RESPONSE PERCENT

(Total number of full-time equivalent employees on the payroll.)

RESPONSE COUNT

RESPONSE PERCENT

RESPONSE COUNT

Up

22%

17

19.8%

22

Down

21%

16

18.0%

20

About the same

40%

31

39.6%

44

No employees

18%

14

22.5%

25

2008

2009

2002

2003

2004

2005

2006

2007

There are over 27.5 million small businesses in the U.S.

3

2010

SBDC ANNUAL REPORT 2011

Did You Know?

5% 16%

Govt., Education, Non-profit, Etc.

2001

12

49%

Business

2000

15%

Other For-Profit

(for-profit)

1999

RESPONSE COUNT

2010

2011


OUR CLIENTS

“SBDC was a tremendous asset with starting a business, and the staff and services provided through SBDC continue to be one of my most helpful resources in maintaining a successful business”. And… on or off the record… David Dickerson is certainly one of SBDC’s most valuable assets! —Dr. Holly Jeffreys, Nurse Practitioner Family Care Clinic of Panhandle

“Thank you again, I don’t think I would’ve known

SBDC CLIENTS AWARDS:

where to go had the SBDC not been there to help!” —Amanda Fike

Top Small Business Award

“SBDC was really a life saver while putting

Rod and Vanda Lancour and their business Support Hose Plus and online store (SupportHoseStore. com) were finalists for the Top Small Business Award.

together a business plan. I would recommend them to anyone.” —DeRima Johnson posted on WT Small Business Development Center’s Wall (Facebook)

Top 20 Under 40 Award Scott & Cindy Dickerson Kolache Cafe

Krystal O’Mara, founder of ReMain Eco Design and Consulting, appeared in Entrepreneur Magazine

Dirk van Reenen - founder and owner of Caprock Auction Group

in July, 2011. “The cycling markets and green-savvy college crowd are into her designs, O’Mara says, and her Etsy site has been the main source of her buyers, who are mostly from metro areas such as San Francisco and Portland, Ore. So far, she’s sold more than 65 designs, and lighting is her bestseller. With a Facebook page, blog and company website in place, O’Mara is homing in on the Etsy market, both stateside and internationally.”

WTA&M SBDC 25 YEAR ANNIVERSARY

4

SBA Dirk van Reenen was named the SBA’s regional Young Entrepreneur of the Year. Karen Day of Specialized Therapy Services was named the SBA’s regional Small Business Person of the Year.

— Michelle Juergen, Entrepreneur For more on O’Mara, go to entrepreneur.com/ article/220021.

800

TOT

TS CONSUL TED AL CLIEN

700

11, 4 0 6

600

25 YEARS OF SERVICE

500 400

Estimated

300 200 100 0

1987

1988

1989

Cost for a gigabyte of data storage in 1990:

1990

1991

$9,216.00

1992

1993

1994

1995

1996

1997

1998


2011

Did you make any capital investments in 2011?

(Purchase of any equipment, real property, or intangibles that will have more that one year of use.)

RESPONSE PERCENT

RESPONSE COUNT

CLIENT SURVEY

Capital Investment 2011:

2010 RESPONSE PERCENT

RESPONSE COUNT

Yes

56%

44

60.4%

67

No

44%

34

39.6%

44

2011

Capital Investment 2011:

If you did make a capital investment in 2011, approximately how much was it?

RESPONSE PERCENT

RESPONSE COUNT

$0 - $100,000 $100 - $250

79%

34

9%

4

$250 - $500

(thousands)

5%

2

$500 - $1.0

2%

1

Over $1.0

5%

2

(thousands)

(thousands to millions) (millions)

Capital Investment 2012:

2011

Do you expect to make any capital investments in 2012? (Purchase any equipment, real property, or intangibles that will have more than one year of use.)

RESPONSE PERCENT

RESPONSE COUNT

Yes

51%

39

No

49%

38

2011

Capital Investment 2012:

If you do plan to make a capital investment in 2012, approximately how much do you think it will be?

RESPONSE PERCENT

RESPONSE COUNT

$0 - $100,000 $100 - $250

74%

29

(thousands)

13%

5

$250 - $500

(thousands)

10%

4

$500 - $1.0

0%

0

Over $1.0

3%

1

(thousands to millions) (millions)

5 SBDC ANNUAL REPORT 2011

1999

2000

2001

Did You Know?

2002

2003

2004

2005

2006

2007

2008

2009

The creator of the Nike Swoosh symbol was paid $35 for the design in 1971.

2010

2011


OUR CLIENTS

Helen & Gary Sage, Sage Oil Vac

Crystal Bundy, Bear Mill

Annabeth Baker, Custom Threads

Holly Hutchins, Edible Arrangements

Dawn Hallgren, Le Chateau Pet Resort

Rod & Vanda Lancour, Support Hose Plus

6 WTA&M SBDC 25 YEAR ANNIVERSARY

Tim & Daphne Cox, Ken & Debbie Adams General Office Supply

Jacob Breeden, Process Art House

Juan Padilla, China Max in Westgate Mall

3500 3000

T O TA

2500

L CLIENTS TRAINED

23, 58 1

2000

25 YEARS OF SERVICE

1500 1000

No Data 500 0

1987

1988

1989

Cost for a gigabyte of data storage in 1993:

1990

1991

$2,048.00

1992

1993

1994

1995

1996

1997

1998


CLIENT SURVEY

FUNDING OPTIONS The news continues to report on how difficult it is to fund small business. Here is what our locals experienced in 2011.

2011

Resources:

How did you finance your business in 2011?

RESPONSE PERCENT

(Check all that apply.)

RESPONSE COUNT

Personal Resources

(self-ďŹ nanced)

29%

21

Loan from a Bank

19%

14

Loan from Savings & Loan Loan from Friend

0%

0

6%

4

Loan from Non-Bank Lender PRPC microloan or govt. sponsored program

0%

0

Loan or Investment from investors

3%

2

Credit from vendor or supplier

1%

1

Credit Card (s) EDC or other

8%

6

0%

0

or family member

or other community agency

Other

6%

4

Not Applicable

51%

37

2011

Resources:

Were you able to get all the financing needed in 2011?

RESPONSE PERCENT

2010

RESPONSE COUNT

RESPONSE PERCENT

RESPONSE COUNT

Yes

37%

28

52.3%

56

No

16%

12

17.8%

19

Not applicable

36%

36

29.9%

32

7 SBDC ANNUAL REPORT 2011

1999

2000

2001

Did You Know?

2002

2003

2004

2005

2006

2007

2008

2009

2010

In 1916, oil tycoon John Rockefeller was the first person to ever become a billionaire.

2011


OUR CLIENTS

Jack Klaus, Ralls Appliance

Michelle Juarez, Scarlet Cord

William & Gabrielle Stanhope, Alpha Lock and Safe

Mike Ramirez, High Plains Contractors and Management Group

Charlotte Lookingbill, D’Vine Wine

Karen Merchant & Diana Taylor, dnk Formals

8 WTA&M SBDC 25 YEAR ANNIVERSARY

Robin Gertonson, Executive Office Suites of Amarillo

Robert Urteaga, Midwest Fabrication

Samphou Williams, Brock’s Laundry

500

400

T O TA L

J O B S C R E AT E D

5, 681

300

25 YEARS OF SERVICE 200

Estimated 100

0

1987

1988

1989

Cost for a gigabyte of data storage in 1996:

1990

$212.00

1991

1992

1993

1994

1995

1996

1997

1998


CLIENT SURVEY

FINDING APPROPRIATE ASSISTANCE The news continues to report on how difficult it is to fund small business. Here is what our locals experienced in 2011.

2011

Resources:

Which of the following business resources are you familiar with?

RESPONSE PERCENT

(Check all that apply.)

2010

RESPONSE COUNT

RESPONSE PERCENT

RESPONSE COUNT

New Markets Tax Credits

17%

11

7.6%

Small Business SBDC Development Center

86%

57

79.0%

83

Enterprise Center

58%

38

Contract Procurement Center

29%

19

SBA Loan Guarantees

74%

49

54.3%

57

EDP Plus Program

3%

2

2.9%

3

West Texas Angel Network

29%

19

19.0%

20

8

Equitrend Capital

18%

12

10.5%

11

TPRDC Microloans

18%

12

PRPC Microloans

21%

14

21.0%

22

Texas Panhandle Regional Development Corp. at Amarillo EDC

Accion Texas

5%

3

4.8%

5

Enterprize Challenge

58%

38

57.1%

60

Emerging Technology Fund

21%

14

12.4%

13

Texas Mezzanine Fund

14%

9

6.7%

7

Peer to Peer Lending

11%

7

4.8%

5

AEDC Interest Rebate Program

17%

11

15.2%

16

Center City Facade Grant

15%

10

27.6%

29

USDA Value Added Grant

14%

9

6.7%

7

USDA Biomass Grant

9%

6

3.8%

4

Route 66 Grant

5%

3

7.6%

8

Small Business Innovation Research Grant

18%

12

15.2%

16

9 SBDC ANNUAL REPORT 2011

1999

2000

2001

Did You Know?

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

Henry Ford used leftover wood scraps from the production of the Model T to invent the first widely used formula for making charcoal briquettes. He later sold the formula to a relative by the name of E.G. Kingsford and the Kingsford company we know today was born.


OUR CLIENTS

Affiliated Services And Partners Contract Procurement Center contractprocurementcenter.com

WTAMU was awarded a contract from the Department of Defense to operate a Contract Procurement Center beginning in 2011. Contract Procurement Centers serve as the bridge between private businesses and government agencies who want to buy goods and services.

WT Office of Economic Innovation The WT Office of Economic Innovation was created to spin-out new companies which license research or products created by the university’s faculty & staff. OEI works with the Texas A&M Office of Technology Commercialization.

Northwest Texas Business and Industry Data Center nwtsbdc.org/bidc

The Northwest Texas Business and Industry Data Center provides business research services specializing in demographics, business statistics, and market research in order to complement the services provided by NWTSBDC counselors.

Texas Manufacturing Assistance Center nwtsbdc.org/TMAC2.htm

The Texas Manufacturing Assistance Center provides specialized assistance to any small Texas company that manufactures a product. TMAC is an affiliate of the Manufacturing Extension Partnership of the U.S. Department of Commerce National Institute of Standards and Technology.

West Texas Coalition for Innovation and Commercialization

WTA&M SBDC 25 YEAR ANNIVERSARY

10

wtcic.org

The West Texas Coalition for Innovation and Commercialization accepts and evaluates applications to the $200 million Texas Emerging Technology Fund. Commercialization awards provide selected, early-stage investments in new, technology-based, private entrepreneurial entities that collaborate with public or private institutions of higher education.

Rural Export Assistance Program reapsw.org

The Rural Export Assistance Program provides certified global business professionals to export-ready businesses for the purpose of establishing or growing a presence in the international marketplace.

$8

$7

Prime Rate

(Right-hand Scale)

$6

$5

Minimum Wage $4

$3

(Left-hand Scale)

1987

1988

1989

1990

Cost for a gigabyte of data storage in 2000:

1991

$9.58

1992

1993

1994

1995

1996

1997

1998

19


CLIENT SURVEY

FINDING APPROPRIATE ASSISTANCE (continued)

2011

Finding Appropriate Assistance:

Did you use any business services from WTAMU in 2011?

RESPONSE PERCENT

(Small Business Development Center, Enterprise Center, Sponsored Research, etc.)

RESPONSE COUNT

2010 RESPONSE PERCENT

RESPONSE COUNT

Yes

46%

35

41.9%

44

No

54%

41

58.1%

61

Finding Appropriate Assistance - For "yes" responses:

2011

If you did use business services from WTAMU in 2011, did it help your business?

RESPONSE PERCENT

(Small Business Development Center, Enterprise Center, Sponsored Research, etc.)

RESPONSE COUNT

2010 RESPONSE PERCENT

RESPONSE COUNT

Yes

97%

34

72.7%

32

No

3%

1

9.1%

4

2011

Will these government initiatives help or hurt your business? (Enter one choice for each initiative.)

HURTS

NO EFFECT

33

1

31

65

37

2

24

63

HELPS

Keeping Reduced Payroll Taxes for 2012 Reducing Corporate Taxes Rates

RESPONSE COUNT

11

0.10

0.08

0.06

0.04

99

2000

2001

Did You Know?

2002

2003

2004

2005

2006

2007

2008

2009

2010

Immigrants are more than twice as likely to start a new business as native born citizens.

2011

0.02

SBDC ANNUAL REPORT 2011

0.12


OUR CLIENTS

Our clients’ favorite business quotes

of Commerce Borger Chamber 3 N :Main 61 0; 49 x ‘Bo P.O. 79008 xas ‘Te r, rge Bo 88 1; :fax 273-3 4 (806) 274-221 om @amaonline.c borgerchamber

“The dictionary is the only place where success comes before work.”

08

January 22, 20

—Arthur Brisbane, American journalist (1864-1910) “People of genius are admired. People of wealth are envied. People of power are feared. But only people of character are trusted.” —Arthur Friedman

presentworkshop you le ’ is true of the how many peop in the pudding u is yo l of tel pro t e no ‘th n I ca ent — ople in Borger. workshop. They The old statem pe the ess m sin fro bu r ted fi for ou they bene through. ed on Marketing d us how much nning to carry come by and tol made and are pla ve have called or ha y the ns dual pla in helping these have cited indivi evening with us for spending the ns. pla vid g Da tin d rke an u ma nks to yo on their move forward My sincere tha be motivated to d an lop ve de d energies with folks l experiences, an pertise, practica ex ur yo ng ari u for sh Again, thank yo night. us on Thursday

Dear P.J.:

“Experience is a hard teacher because she gives the test first, the lesson afterwards.” —Vernon Sanders Law

Sincerely,

“Ability is what you’re capable of doing. Motivation determines what you do. Attitude determines how well you do it.”

K. Benton rlyy K Beveerl CEO/President

—Lou Holtz “Luck is what happens when preparation meets opportunity.” —Elmer Letterman

12 WTA&M SBDC 25 YEAR ANNIVERSARY

“Throughout history, people have focused too little on the opportunities that problems present. The 21st century offers great hope and glorious promise, perhaps a new golden age of opportunity.” —Sir John Templeton

WT joins A&M system EnterPrize Challenge created

Amarillo EDC created

SBDC DIRECTORS L.B. Hendrix

Don Taylor

SBDC LOCATIONS Campus

1987

1988

1800 S Washington

1989

1990

Cost for a gigabyte of data storage in 2003:

1991

$2.58

1992

1993

1994

1995

1996

1997

1998

199


CLIENT SURVEY

MARKETING Marketing is an essential element of a successful business, and when times are bad it becomes more important than ever. Here is how area businesses used marketing in 2010:

2010

2011

Marketing:

In 2011, did your marketing activities…

RESPONSE PERCENT

RESPONSE COUNT

RESPONSE PERCENT

RESPONSE COUNT

Increase

38%

29

44.2%

46

Decrease

12%

9

5.8%

6

Stay about same

36%

27

40.4%

42

Not applicable

14%

11

9.6%

10

2010

2011

Marketing:

RESPONSE PERCENT

In 2011, what types of marketing did you use?

RESPONSE COUNT

RESPONSE PERCENT

RESPONSE COUNT

Billboards

16%

10

11.5%

12

22%

14

14.4%

15

50%

32

53.8%

56

Direct Mail

31%

20

37.5%

39

Radio

25%

16

24.0%

25

Email

55%

35

48.1%

50

Website Promo Items

72%

46

67.3%

70

30%

19

29.8%

31

Yellow Pages

44%

28

44.2%

46

Vehicle Signage Store Signage

23%

15

22.1%

23

(outside your location)

27%

17

26.0%

27

Sales Calls (door to door)

8%

5

10.6%

11

Telephone

16%

10

17.3%

18

Internet (ads/leads)

13%

8

14.4%

15

Face to Face

networking

55%

35

55.8%

58

Social Media

47%

30

Other

13%

8

(outbound calls)

Facebook, Twitter, etc.

WT Enterprise Center created

13 SBDC ANNUAL REPORT 2011

TV Print

University Center Program created Equitrend Capital Formed

Contract Procurement Center hosted West Texas Angel Network launched

Bill Harrington

PJ Pronger

2300 N Western

9

2000

2001

Did You Know?

2002

2003

701 S Taylor

2004

2005

2006

2007

2008

Small Business Firms pay 43% of the total U.S. private payroll.

2009

2010

2011


SBDC STAFF

STAFF 1) David Dickerson Assistant Director Bilingual English/Spanish M.B.A. in Finance

2) Gina Woodward 2

1

3

Consulting Coordinator B.B.A. in Marketing, B.S. in Psychology Social Media Manager

3) Julie Attebury Senior Business Consultant Licensed real estate broker M.B.A. in General Business

4) P.J. Pronger 4

5

6

Director Certified Internet Webmaster M.P.A. in Accounting

5) Rick Palmer Director of Contract Procurement B.S. Industrial Distribution

6) Ana Ramirez Named Outstanding Student Employee for WTAMU Graduating in 2012 with a B.B.A.

WTA&M SBDC 25 YEAR ANNIVERSARY

14

Many great people have worked at the SBDC over the past 25 years prior to the current staff. They include:

Directors: L.B. Hendrix Don Taylor Bill Harrington

Counselors: Bill Harrington Bill Pulliam David Shipman David Terry Cindy Garth Jeff Reid Nicole Havrilla Lisa Gray

Cost for a gigabyte of data storage in 2007:

$0.42

Support: Ann Stanford Kim Stephens Kathy McNabb China Osburn Lisa Gray Joann Graves JJ Walker

Students: Louis Ortiz David Bryan Marwan Touma Crissy Gilliam Maribel Madrid


respondents prior to any new legislation.

2011

Health Care:

Did you offer healthcare to your employees in 2011?

RESPONSE PERCENT

RESPONSE COUNT

2010 RESPONSE PERCENT

RESPONSE COUNT

Yes

31%

23

36.5%

38

No

48%

36

35.6%

37

No employees

21%

16

27.9%

29

Health Care:

Do you plan to offer healthcare to your employees in 2012?

2011 RESPONSE PERCENT

RESPONSE COUNT

2010 RESPONSE PERCENT

RESPONSE COUNT

Yes

35%

26

42.3%

44

No No employees

42%

31

28.8%

30

23%

17

28.8%

30

(in 2012)

CLIENT SURVEY

EMPLOYMENT & HEALTHCARE Employer-sponsored healthcare is in for a change in the coming years; these questions reflect the thinking of our

THE OUTLOOK These results speak for themselves.

2011 vs. 2010:

Is your financial position today better or worse than it was one year ago? (Considering your cash on hand, payables, receivables, and debt load.)

2011 RESPONSE PERCENT

RESPONSE COUNT

RESPONSE COUNT

Better

41%

31

39.4%

41

Worse

21%

16

28.8%

30

About the Same

37%

28

31.7%

33

2011

2012 vs. 2011:

Do you believe that 2012 will be better than 2011?

RESPONSE PERCENT

RESPONSE COUNT

2010 RESPONSE PERCENT

44

75.0%

78

17%

13

10.6%

11

Don’t know

24%

18

14.4%

15

SBDC ANNUAL REPORT 2011

59%

No

New businesses have created nearly all net new jobs since 1980.

15

RESPONSE COUNT

Yes

E nd of Sur v ey

Did You Know?

2010 RESPONSE PERCENT


The Organization

Part of a nation-wide network, the SBDC is a department of West Texas A&M University in the College of Business and is a member of the Northwest Texas SBDC Region. Vision Statement – The WTA&MU SBDC will be recognized as the Panhandle’s resource of choice for entrepreneurs. It will be the most professional and competent source of business information, business resources, and analytical services for helping individuals realize their business dreams. Mission Statement – The SBDC’s mission is to provide consulting, training, and research to small businesses in pursuit of community economic development. Values – The values governing the SBDC’s activities include: • • • • •

Professionalism Competence Accuracy of Knowledge Ethical Conduct Real Value to Clients

Service Area

Service Area

The designated service area for the SBDC is the top 25 counties of the Panhandle. (Childress county is attached to the Wichita Falls SBDC.)

WTA&M SBDC 25 YEAR ANNIVERSARY

16

While we don’t market our services outside this area, we are free to assist clients in other locations upon their request.

Dallam

Sherman

Hansford

HartleyH

Moore

Potter

Oldham

Deaf Smith

Outreach

The SBDC can send staff to any area of the Panhandle and provide all our regular services. We also maintain a website with resource links and publish a monthly e-newsletter with business tips and information about funding sources and training. We regularly provide programs for civic groups throughout our 25 county service area.

Funding

The SBDC receives major funding from the U.S. Small Business Administration and the State of Texas and is not dependent on the general budget from WTAMU. We also receive additional private support from local businesses and individuals. The SBDC program is a true bargain for taxpayers — for every $1 dollar in program funding received, the SBDC generates $9.63 in new tax revenues. There is also a multiplier effect — every $1 expended on the SBDC operation was leveraged by $14.38 raised in new capital by clients. Source – The Chrisman Report

Cost for a gigabyte of data storage in 2010:

$0.08

Parmer

Castro

Randall

Swisher

Ochiltree

Lipscomb

Hutchinson

Roberts

emphill

Carson

Gray

Wheeler

Armstrong

Donley

Collingsworth

Briscoe

Hall


DBAs

Activities Consulting

Individual consulting is provided to any small business person on a free and confidential basis, with specialties in the following: Startup Planning, Business Plans, Financial Analysis, Business Valuation, Financing and Investors, Marketing and Advertising, and Internet Operations.

DBAs, or Assumed Name Certificates, are used to make ownership information about businesses public. DBAs are filed with the county and/or Secretary of State. The SBDC provides forms, advice, and notary services for DBA filings, and we publish an informative booklet which describes the process and answers common questions.

Training

Collaborations

Research

Amarillo Chamber of Commerce

The SBDC conducts seminars and workshops throughout the year on a variety of topics such as Marketing, QuickBooks, Intellectual Property, Social Media and Sales Tax.

The SBDC has access to market research resources which can be utilized to find the answer to questions ranging from legal statutes to consumer preferences. Most research is provided free of charge.

The SBDC makes every effort to coordinate and collaborate with other organizations involved in economic development. In 2011 we were pleased to work with all of the following:

Amarillo College Amarillo EDC Amarillo Hispanic Chamber of Commerce Borger Chamber of Commerce

Results

SBDC activities are monitored and measured by both the SBA and an independent auditor. Results recorded for Fiscal Year 2011 are as follows:

Borger EDC Business and Industry Data Center B&W Pantex Cannon Air Force Base Dalhart Chamber of Commerce Dumas EDC Enterprise Network Entrepreneur Alliance, Inc.

METRIC

ACTUAL

340

543

2,200

2,499

New Businesses Opened

45

50

New Jobs Created

185

190

New Capital Formed

NA

$6,880,971

Training Sessions Held

30

82

600

808

Clients Served Total Client Hours

Training Attendance

Did You Know?

High Ground of Texas Pampa Chamber of Commerce

17

Perryton CDC Potter County Leadership Advisory Board Texas Manufacturing Assistance Center Texas Panhandle Regional Development Corporation Texas Tech Health Sciences Center Texas Tech University System Tulia High School West Texas Angel Network WTAMU Office of Economic Innovation

80% of Americans say they would rather be the owner of a successful small business than the CEO of a Fortune 500 company.

SBDC ANNUAL REPORT 2011

GOAL


FINANCE

18

701 S Taylor, Ste 118 • Amarillo, Texas 79101 Phone: 806.372.5151

www.wtsbdc.com

A member of the Texas A&M University System A member of Northwest Texas SBDC Region Network

Funded in part through a cooperative agreement with the U.S. Small Business Administration The SBDC does not discriminate on the basis of race, color, creed, national origin, ancestry, sex, marital status, disability, religious, or political affiliation, age or sexual orientation. The SBDC is committed to ensuring that its programs and services are available to all persons, including persons with disabilities or needing language assistance. For persons needing an accommodation to an SBDC program, it is best that we receive your request at least 10 working days before a scheduled event. Coop agreement # 2-603001-Z-0048

WTA&M Small Business Development Center 2011 Annual Report  

The 2011 annual report and client survey of West Texas A&M University's Small Business Development Center.

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