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Local entrepreneur gets a boost from Small Business Development Center

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    • 20190320 trinawbenjamin 004 938x528 1
On an average day, Trina Worrell Benjamin handles invoices, returns calls and emails, directs a team of nearly a dozen employees and manages a client roster that has included big names like Rite Aid and Toys“R”Us. She admits her first steps into entrepreneurship were not easy. But with the help of…

Local entrepreneur gets a boost from Small Business Development Center

  • SBDC: Temple University SBDC
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    • 20190320 trinawbenjamin 004 938x528 1

Pennsylvania Small Businesses Raising Capital, Increasing Sales: Small Business Development Centers help more than 12,000 Entrepreneurs in 2011

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The Pennsylvania Small Business Development Centers (SBDC) have released impact data showing the cumulative results of their network services for 2011. The figures reported represent outcomes from consulting sessions with entrepreneurs and small- and medium-sized businesses. Government funding for the Pennsylvania SBDC network totaled approximately $8.3 Million, (48% from the Commonwealth), supporting 95 full-time and 49 part-employees and more than 200 students delivering services to all 67 counties in Pennsylvania. With an overall funding drop of 5.7 percent from 2010 to 2011, the Pennsylvania SBDC network still managed to outperform its 2010 numbers in many areas.

In 2011, the Pennsylvania SBDC network experienced an eight percent increase in the overall number of entrepreneurs consulted in addition to a three percent increase in the total number of consulting hours provided. To adjust for the reduced core funding, educational workshops and seminars were down ten percent with attendance declining 20 percent overall. An uptick of 14 percent in client-obtained investment was recorded, new government contracts rose two percent and finally, assets preserved were up three percent in 2011.

2011 Pennsylvania SBDC Impact Data

Results

Change Since 2010

Entrepreneurs/Businesses Consulted

12,061

8%

Total Consulting Hours Provided

117,636

3%

Educational Workshops & Seminars

757

-10%

Educational Event Attendees

13,876

-20%

Client-Obtained Investment

$171.3 million

14%

Client Government Contracts

$259.5 million

2%

Assets Preserved

$187.6 million

3%

New international trade sales totaled $23.865 million in 2011, representing a 20 percent increase overall. In 2010, new international trade sales registered at $34.139 million, an increase of 25 percent for the year.

“Despite reduced funding, SBDC staff remains committed and it is through their inventiveness that we have reached these achievements” said Pennsylvania SBDC state director Christian Conroy. “The numbers show the true reach of our Centers within the business community and prove real economic impact.”

Start-up assistance was the most requested SBDC service in 2011, which was a change from 2010 when help with marketing, sales and customer relations was the most sought service. This demonstrates that more entrepreneurs felt that 2011 was the right time to begin a new business venture.

In 2011, 55 percent of Pennsylvania SBDC clients were operating in the service industry. The second largest client base was retailers at 16 percent. Manufacturing companies registered at 12 percent, followed by construction at five percent, companies in the ‘other’ category made up six percent and lastly wholesalers represented four percent of SBDC clients in 2011.

In terms of size, 70 percent of Pennsylvania SBDC clients had one to five employees in 2011 and 10% had six to ten.

These 12,061 SBDC assisted clients are critical to the commonwealth’s economy because research has found that all net new job creation comes from new small businesses, in particular those with less than 10 employees. According to the U.S. Small Business Administration, small businesses in Pennsylvania represented 72.4 percent of the net new private-sector jobs from 2005-2008.

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Tags: Impact, Services