News Release 08-060-D
Oregon Small Business Development Center Network Essential Facts & Figures
News Release 08-060-D For more information:
Release date: 11/20/08 Bentley Gilbert
For immediate release (541) 440-7747
The Oregon Small Business Development Center Network (OSBDCN) is a unique and well-established partnership with 16 community colleges, three state universities, the US Small Business Administration, and the Oregon Economic and Community Development Department.
Since its inception in 1983, the OSBDCN has served over 135,000 current and prospective businesses.
As of September 2008 the OSBDCN had 4,720 active cases/clients year-to-date statewide. 44% of these clients (2,069) are not yet in business (pre-venture entrepreneurs working on their business plans and raising start-up capital). 56% (2,651) have established their businesses; most of these firms (2,251) are in the 0-5 employee range. The balance of clients includes 383 businesses with 5-50 employees, 16 businesses with 50-500 employees, and one business with 500+ employees.
According to an annual study conducted by James Chrisman, Ph.D. (Professor of Management, Mississippi State University), SBDC clients survive at a rate approximately 35% higher than the general population of new businesses in the US.
Thus far in 2008, the OSBDCN has exceeded its annual goals for Capital Formation (a total of $42,256,000 in debt and equity financing assistance), Business Starts (298) and Increased Sales ($34,400,000).
From January 1 – September 30 2008, (as documented in Center IC, OSBDCN’s management information system), OSBDCN client businesses created and retained over 2,000 jobs.
According to the US SBA Office of Entrepreneurial Development 2007 Annual Report, OSBDCN is #1 in the nation (out of 63 SBDC Networks) in leveraged investment (state and local matches) per federal dollar. NOTE: Oregon ranks #29 in population.
The SBA report also ranked OSBDCN #13 in total counseling hours in FY 2007.
According to the same report, OSBDCN ranks #8 in the nation in new business starts (The number of clients who, when initially counseled were “not in business: and later established a business.) NOTE: this is a raw number ranking, not per capita or per SBA dollar.
According to a study published in 2007 by the US Small Business Administration Office of Advocacy, small firm establishment births have a larger impact than any other factor examined on gross state product (GSP), state personal income (SPI), and total state employment. The key finding suggests that economic growth will be faster when the net small firm establishment birth rate is positive. They conclude that “state efforts to promote small business formation are more fruitful for generating economic growth than virtually any other policy option.”
For more information contact, Terry Swagerty, UCC Director of Small Business and Development Center, 440.7661.