What have the last few months been like at the SBDC?
Traditionally, the SBDC provides assistance to local businesses in just about any area – from starting a new business to succession planning, obtaining capital, analyzing financial and management performance, marketing and more. We deliver assistance through training workshops and one-on-one consulting.
Over the last few months, most of our services have been assisting clients with disaster loan applications and providing guidance through that process. New guidance is released often, so we have spent a great deal of time staying up-to-date and understanding the language of the Cares Act as it relates to disaster loans.
Have there been any common skills or competency areas that businesses are needing the most right now?
We are seeing through surveys that marketing strategies, cash flow concerns, and recovery business plans are strong needs. As more businesses sought out our services, we recognized some businesses struggled to qualify for disaster loan assistance because financial records weren’t in order. We’ll place more focus on sound record-keeping practices in the future.
How do you think your approach to small business development and assistance will change moving forward?
There will always be a need for in-person training and face-to-face consulting. But we’ve learned virtual training will be offered more because it provides certain flexibilities both for the participants and the presenter. We’ll also continue to offer more virtual one-on-one consulting to free up time to meet with more clients. We’ve learned that when we meet with clients virtually, we accomplish more in less time.
The SBDC also has a new entrepreneurial development program?
Yes, we do! We've been busy organizing a Cares Act entrepreneurial development program to offer additional assistance to small businesses beyond our core mission. We now have eight subject matter experts on staff to assist small businesses affected by COVID-19. The consultants provide services in the areas of disaster loan processes, financial analysis and guidance, digital marketing and human resources. The program has also allowed the bandwidth to provide additional training programs aimed toward overcoming disaster-related challenges.
We are currently in the planning phase for that segment of the program.
