You may have seen the SBDC signs on offices that recently appeared in Gilmer, Henderson, Carthage, Marshall and Jefferson. What is an SBDC? SBDC stands for Small Business Development Center, and we’re a resource partner of the Small Business Administration. There are about 1,000 SBDCs across the country that serve a very specific purpose in the local economy. Every county is served by an SBDC.
Our job is to provide consulting and advising services to entrepreneurs and small business owners in order to help local small businesses start, grow and thrive. And the best part is we provide our services at no cost to our clients. Each SBDC is funded through an SBA grant with support from our state and a local host, which in our case is the State of Texas and the University of Texas at Tyler.
The SBA is well known for its programs that incentivize banks to make small business loans by reducing the associated risks. The SBDC program is not as well known, but vitally important to entrepreneurs and small business owners who need business advice. Small business consulting firms are out there and provide important services, but at a national average of $300 an hour, their services are out of reach for most small businesses and entrepreneurs. And in rural areas of the country, these companies and their services are almost non-existent.
That’s where the SBDC comes in. We are staffed by seasoned business advisors who have been entrepreneurs and small…