SBDCs help small business owners access more than $70 million in capital in 2011
LOS ANGELES –The Los Angeles Regional Small Business Development Center (SBDC) Network has reported their 2011 annual economic impact numbers and many SBDCs surpassed their goals and helped their clients’ businesses grow. The SBDC Network assisted 300 new business start-ups, helped create or retain over 3,800 jobs, and helped increase sales by over $100 million for small businesses.
“As a Network, we were able to help start 315 new businesses and assisted our clients achieve $103 million in sales increases. These numbers represent the spirit of entrepreneurship and businesses flourishing with success,” stated Victor Parker, Los Angeles SBA District Director. “Small business owners in the Los Angeles area are fortunate to have eight separate centers where ‘game changing’ SBDC advisors leverage their business experience to give useful and tangible advice.”
The Los Angeles Regional SBDC Network received $3.5 million in federal funds in 2011. The SBDC program is designed to match dollar for dollar every federal dollar that it receives with state, community or private funds, creating a program with over $7million in funding to serve small businesses in the Los Angeles region.
“Small businesses are the backbone of the American economy, and Long Beach City College is honored to support them in any way we can,” said LBCC President Eloy Ortiz Oakley. “Our SBDC Network is doing an incredible job of supporting these innovative business owners.”
The Los Angeles Regional SBDC Network includes six primary service centers hosted by College of the Canyons, Economic Development Collaborative-Ventura County, EI Camino College, Long Beach City College, Pacific Coast Regional and Santa Monica College. In addition, the Network operates a Technology Specialty Center at the California State University, Los Angeles College of Engineering, Computer Science and Technology that focuses upon SBIR/STTR and commercialization, as well as an International Trade Center at LBCC that provides import and export services, trade leads, trade missions and trade show assistance. The Network also works with a number of corporate and community partners to offer small business owners and entrepreneurs with access to innovative entrepreneurial programs, such as the Goldman Sachs 10,000 Small Business Program, HP LIFE and the Young Entrepreneurs Program (Y.E.P.).
Jesse Torres, Regional Director for the Los Angeles Regional SBDC Network hosted by Long Beach Community College District, highlighted the Network’s 2011 success. “Through the dedicated work of our eight service and specialty centers and network of 130+ business advisors, we were able to address the needs of small business owners” stated Torres.
2011 Los Angeles Regional SBDC Network Economic Impact Data:
- Business Start-Ups (315)
- Jobs Created and Retained (3,835)
- Increase in Sales ($103,824,285)
- Total Advising Hours (24,602)
- Number of Entrepreneurs assisted with loan preparation (402)
- Amount of Capital Infusion ($70,074,015)
- Entrepreneurs Advised and Trained (12,368)
- Training Events (553)
Since January 1, 2006, Long Beach Community College District (LBCCD) has been the host for the Small Business Development Center (SBDC) Network servicing the Los Angeles, Ventura and Santa Barbara communities. The SBDC program is the U.S. Small Business Administration’s (SBA) most extensive economic development program, helping small businesses create jobs and strengthen local economies. LBCCD as the Lead Center holds the contract with the SBA and contracts with a diverse group of seven educational and community development organizations to deliver services to small businesses.
CONTACT: Israel Serna
Regional Marketing and Events Coordinator