At the U.S. Small Business Administration (SBA), we’re all about helping small businesses start, grow and succeed. Collaboration with SBA resource partners is essential because they provide quality one-on-one counseling, training and mentorship that can help unleash small business potential. In fiscal year 2014, these efforts helped small businesses receive more than $4.7 billion in capital infusion, start over 13,500 new companies and create and retain more than 70,000 jobs.
SBA resource partners are available to help build small businesses success and include SCORE, Small Business Development Centers (SBDC), Women Business Centers (WBC) and Veterans Business Outreach Centers (VBOC). Together, they counseled and trained over 1 million clients in fiscal year 2014.
SBA’s vast network of resource partners serve and mentor the dynamic demographics of the United States. From women, to Encore entrepreneurs over the age of 50, to veterans and millennial entrepreneurs, SBA resource partners have helped the small business community raise start up and growth capital, start new companies and sell billions of dollars in products and services globally.
One business that received SBA resource partner assistance is Michael Gray, who bought Denis Gray Trucking from his father. After being accepted to the SBA Emerging Leaders program – a seven-month executive education course for businesses poised for growth – Gray created and implemented a new pay model for his drivers. His driver turnover rate went from 100 percent from the same quarter the year before (the national average is 90 percent) to 14 percent, and he’s been able to hire five more highly-qualified drivers.
Since graduating from the Emerging Leaders program Michael has worked with a SCORE counselor and meets weekly with an SBDC counselor. Thanks to their guidance, he has hired three additional office staff, put new accounting and budget practices into place and expanded his business into specialized loads, which are beginning to produce high profits for the company.
So, if you’re thinking of starting, growing or managing a small business, connect with your local SBA District Office at www.sba.gov/local who can connect you to the nearest SBDC, SCORE chapter, WBC or VBOC to empower your next small business move.