The annual economic impact study of the University of Georgia SBDC, published in August of 2015, provides solid evidence that entrepreneurs utilizing SBDC assistance experience employment growth significantly greater than the state average. All clients who received five or more hours of consulting in 2013 received a questionnaire that inquired as to the benefit of the services and actual performance results in 2012 and 2013. A total of 967 clients returned usable surveys for a response rate of 45.7 percent.
The study found that the employment base of SBDC’s existing business clients grew by 19.6 percent, while overall employment levels in Georgia increased by 3.0 percent. Also, during the same time period, SBDC existing business clients increased their sales by an average of 19.7 percent, while the average Georgia business experienced an increase in sales of 4.9 percent. The tax implications of this incremental difference show that Georgia SBDC clients (both existing and pre-ventures) generated over $10.3 million in state tax revenues and nearly $7.6 million in federal tax revenues beyond what they would have generated if their performance levels had been the same as that of the average Georgia business. These incremental tax revenues more than cover the entire SBDC budget. Overall, satisfied, long-term business clients of the Georgia SBDC Network were responsible for the creation of an estimated 3,122 new jobs and $291.6 million in incremental new sales for the year 2013.
This report was prepared by Dr. James Chrisman of Mississippi State University. Dr. Chrisman also conducts the analysis and writes the report for the national impact study for the Association of Small Business Development Centers. Nationally, the incremental performance improvements also resulted in additional tax revenues exceeding the costs (budgets) of all SBDC programs.
Our Clients Speak:
This year’s impact study elicited hundreds of comments from our clients. We are publishing some of the comments to affirm our vision and values and to encourage more small businesses to contact us for assistance.
“I would highly recommend the UGA SBDC to any small business starting up or current operating business facing issues or growth. As I look into new ventures, I will continue to look directly to the assistance from the SBDC. The knowledge is superior.”
“I cannot express how beneficial the SBDC was in obtaining financing for our business. I highly recommend using the SBDC for any business project, as I plan on doing just that in all my future business endeavors. Thank you, SBDC!”
“Jeff did a great job coaching and supporting me during and after the sale. He is still available and willing to help long after the purchase of my business. I will absolutely seek out his advice when looking to purchase my next business!”
“We love our SBDC crew. Rick, Jane and Todd have been our guardian angels. It’s good to know that when we run into unfamiliar ground, we can call for help.”
“Erica Bracey was phenomenal. Everywhere I go I let people know about the SBDC, especially women Veterans. I have had help with my GMSDC and SDVOP certifications. I attended the GrowSmart program and I am so excited about VetSmart. Thank you so much. You have been a blessing to my business.”
“I don’t think I would be here today without the expertise of the UGA SBDC at Kennesaw State University. Drew has been so beneficial over the last three years with his expert advise and follow-up. I don’t think I know one other person that knows so much about running a business, from accounting and hiring to marketing and advertising. He has been instrumental in connecting us to the right people, making recommendations for potential market growth in specific verticals, and so much more. I look forward to many more successful years with the SBDC.”
“David Lewis and his staff at the UGA SBDC have been instrumental in the exponential growth of my business. We could not have grown our business and increased our sales and profits without David.”
“John Ernst is a very knowledgeable business consultant. He provided me with very practical, actionable advice. He seems to really care about the business owners he advises.”
“The help that I received from the SBDC has been extremely important for my business. The exceptional services that I received from Peter Rassel have helped me to grow my business with the marketing and social media assistance and the right consulting to channel my business in the right direction. I appreciated the help that I received from the SBDC.”