March 31, 2003

SMALL BUSINESS CENTER BOOSTS CLIENTS, ESPECIALLY IN ROUGH ECONOMY

The Idaho Small Business Development Center is making a difference, even in tough economic times, for the businesses it serves.

A recent impact study shows that SBDC clients — which amount to more than 3,600 businesses and individuals across the state — have consistently out-performed the average Idaho small business. Over the past two years, as the economy has declined, the gap has widened between SBDC-assisted businesses and the average small business.

"While you can sometimes get away with weak business practices in a strong economy, the holes start to show when the economy turns down," said Jim Hogge, state director of the Idaho Small Business Development Center. "We're helping businesses shore up their business practices and survive, even thrive, in this downturn."

The study indicates that in difficult economic times, solid business practices and smart decisions are key to survival and success. Single-year sales growth for the SBDC clients exceeded 25 percent in 2002, while the average Idaho small business lagged near 5 percent. In addition, employment growth for SBDC companies was four times that of the average small business.

It is also noteworthy that SBDC clients returned $3 to the economy through increased federal and state taxes for every $1 invested in the program.

Small businesses are vital to the Idaho economy. Ninety-seven percent of Idaho firms are considered small businesses, those with 500 or fewer employees. Of these, 87 percent are firms of less than 20 employees. With large companies taking big hits, these small companies are providing a stable foundation for Idaho’s economy.

The Idaho SBDC has six offices at colleges and universities across the state. The centers provide no-cost confidential business consulting and affordable trainings and seminars to Idaho’s for-profit small businesses. Funding comes from the U.S. Small Business Administration, the state of Idaho and the host higher education institutions. The Idaho SBDC served clients in 43 of the state’s 44 counties in 2002. Those served included 1,875 clients with tailored, one-on-one consulting and 1,841 individuals with focused, high-impact training.

For more information on the Idaho Small Business Development Center, visit www.idahosbdc.org, or call the state office of the Idaho SBDC at Boise State University, 426-1640.

The website offers round the clock help for businesses by sorting the glut of business advice that is available and offering only the most relevant and up-to-date information.

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Jim Hogge

Idaho Small Business Development Center state director

208 426-3799

jhogge@boisestate.edu

Sherry Squires

communications and marketing

208 426-1563

ssquires@boisestate.edu