CLIENT SURVEY
25 YEARS of Supporting, Developing, and Training Entrepreneurs West Texas A&M University
SMALL BUSINESS DEVELOPMENT CENTER
1 SBDC ANNUAL REPORT 2011
ANNUAL REPORT 2011 & CLIENT SURVEY
February 20, 2012
To Our Clients, Partners, and Friends: The WTAMU Small Business Development Center is celebrating twenty-five years of dedicated service! In that span of time, the SBDC has provided an incredible amount of assistance to small business owners and entrepreneurs, and although records from the early years aren’t complete, we do know that the SBDC has logged over 47,000 hours of consulting and presented more than 1,300 seminars and workshops. Just as importantly, it has been the launching pad for some truly great ancillary programs such as the Enterprize Challenge, the West Texas Angel Network, the Entrepreneur Alliance, and Equitrend Capital. We hope to see these programs carry on in the best traditions of SBDC service to our entrepreneurial communities in the future.
And finally, we have again surveyed our clients to get their viewpoint on the economy and the outlook for 2012. I think you will find the following results interesting. Sincerely,
PJ Pronger Director
1 SBDC ANNUAL REPORT 2011
Entrepreneurship today is more important than ever. The Kauffman Foundation of Kansas City has researched the contributions of entrepreneurship in this country and uncovered some incredible facts. Did you know that practically all net new job growth in America since 1980 has come from businesses less than three years old? The fact is, large established businesses are firmly on the path of increasing efficiency, which means they are constantly looking for ways to reduce the number of employees on their payrolls. New businesses, by contrast, are constantly looking to hire the talent that can help them expand. From a cultural standpoint, Kauffman also discovered that Americans have more faith in small business than in large corporations and that most Americans would rather be a small business owner than the CEO of Fortune 500 company.
FINANCE
SBA loan approvals supported $30.5 billion (61,689 loans) in lending to small businesses as of September 30, 2011. The first quarter of the year, at over $12 billion supported, was the most active single quarter ever for SBA-backed loans, with more than four times the dollar volume of the same quarter in 2009 (the first three months of the recession) and more than double the volume of any quarter over the past four years. Source: SBA Press Release #11-58 on October 5
Over the past 15 years angel investors have become significantly more professional, organized, and important to startup ventures. Angels invest their own money into new firms and have backed companies like Google, Twitter, Intel, Apple, and Teledyne when they were barely companies. The Amarillo based Angel group is West Texas Angel Network, a non-profit group of high net worth westtexasangelnetwork.com individuals who review applications for investment on a quarterly basis.
Community Development Financial Institutions are financial institutions which provide credit and financial services to underserved markets and populations. They are certified by the Community Development Financial Institutions Fund at the U.S. Department of the Treasury, which also provides financial assistance to CDFIs through a variety of programs. Equitrend Capital is an Amarillo based CDFI which makes equity investments in early stage panhandle businesses.
equitrendcapital.com
Total Bank Capital
M aki ng Lo an s i n Am a rillo
2
Bank loans (in total dollars) have increased over the past five years but have not kept pace with the growth
Dollars Loaned Out
$10 Billion $8 Billion
in bank capital, due in part to new regulations requir$6 Billion
ing banks to keep larger reserves on hand. WTA&M SBDC 25 YEAR ANNIVERSARY
$4 Billion
(Aggregate data through 9/30/11 from 9 community banks
$2 Billion
with an Amarillo presence .) $0 Billion
2007
2008
2009
2010
2011
$20,000,000
T O TA
$15,000,000
L C A P I TA L F O R M E D
$139,033,518
$10,000,000
25 YEARS OF SERVICE
$5,000,000
No Data 0
1987
1988
1989
Cost for a gigabyte of data storage in 1987:
1990
1991
1992
$61,440,000.00
1993
1994
1995
1996
1997
1998
CLIENT SURVEY
2011 Client Survey
THE LANDSCAPE IN 2011 Just how did our local businesses fare in 2011, compared to the prior year?
2011
Business Description:
RESPONSE PERCENT
Please choose the selection that describes your operation.
Retail Wholesale or
Distribution
Services
4 40 13
Everything else -
16%
13
2011
Sales:
How were your sales in 2011 compared to 2010?
RESPONSE PERCENT
(Total revenues from all business related activities.)
RESPONSE COUNT
2010 RESPONSE PERCENT
RESPONSE COUNT
Up
50%
39
53.2%
59
Down
27%
21
20.7%
23
About the same
23%
18
26.1%
29
2011
Costs:
How were your costs in 2011 compared to 2010?
RESPONSE PERCENT
(All costs of doing business.)
RESPONSE COUNT
2010 RESPONSE PERCENT
RESPONSE COUNT
Up
62%
48
57.7%
64
Down
12%
9
8.1%
9
About the same
27%
21
34.2%
38
2011
Employees:
How was your employee count at the end of 2011 compared to 2010?
RESPONSE PERCENT
(Total number of full-time equivalent employees on the payroll.)
RESPONSE COUNT
RESPONSE PERCENT
RESPONSE COUNT
Up
22%
17
19.8%
22
Down
21%
16
18.0%
20
About the same
40%
31
39.6%
44
No employees
18%
14
22.5%
25
2008
2009
2002
2003
2004
2005
2006
2007
There are over 27.5 million small businesses in the U.S.
3
2010
SBDC ANNUAL REPORT 2011
Did You Know?
5% 16%
Govt., Education, Non-profit, Etc.
2001
12
49%
Business
2000
15%
Other For-Profit
(for-profit)
1999
RESPONSE COUNT
2010
2011
OUR CLIENTS
“SBDC was a tremendous asset with starting a business, and the staff and services provided through SBDC continue to be one of my most helpful resources in maintaining a successful business”. And… on or off the record… David Dickerson is certainly one of SBDC’s most valuable assets! —Dr. Holly Jeffreys, Nurse Practitioner Family Care Clinic of Panhandle
“Thank you again, I don’t think I would’ve known
SBDC CLIENTS AWARDS:
where to go had the SBDC not been there to help!” —Amanda Fike
Top Small Business Award
“SBDC was really a life saver while putting
Rod and Vanda Lancour and their business Support Hose Plus and online store (SupportHoseStore. com) were finalists for the Top Small Business Award.
together a business plan. I would recommend them to anyone.” —DeRima Johnson posted on WT Small Business Development Center’s Wall (Facebook)
Top 20 Under 40 Award Scott & Cindy Dickerson Kolache Cafe
Krystal O’Mara, founder of ReMain Eco Design and Consulting, appeared in Entrepreneur Magazine
Dirk van Reenen - founder and owner of Caprock Auction Group
in July, 2011. “The cycling markets and green-savvy college crowd are into her designs, O’Mara says, and her Etsy site has been the main source of her buyers, who are mostly from metro areas such as San Francisco and Portland, Ore. So far, she’s sold more than 65 designs, and lighting is her bestseller. With a Facebook page, blog and company website in place, O’Mara is homing in on the Etsy market, both stateside and internationally.”
WTA&M SBDC 25 YEAR ANNIVERSARY
4
SBA Dirk van Reenen was named the SBA’s regional Young Entrepreneur of the Year. Karen Day of Specialized Therapy Services was named the SBA’s regional Small Business Person of the Year.
— Michelle Juergen, Entrepreneur For more on O’Mara, go to entrepreneur.com/ article/220021.
800
TOT
TS CONSUL TED AL CLIEN
700
11, 4 0 6
600
25 YEARS OF SERVICE
500 400
Estimated
300 200 100 0
1987
1988
1989
Cost for a gigabyte of data storage in 1990:
1990
1991
$9,216.00
1992
1993
1994
1995
1996
1997
1998
2011
Did you make any capital investments in 2011?
(Purchase of any equipment, real property, or intangibles that will have more that one year of use.)
RESPONSE PERCENT
RESPONSE COUNT
CLIENT SURVEY
Capital Investment 2011:
2010 RESPONSE PERCENT
RESPONSE COUNT
Yes
56%
44
60.4%
67
No
44%
34
39.6%
44
2011
Capital Investment 2011:
If you did make a capital investment in 2011, approximately how much was it?
RESPONSE PERCENT
RESPONSE COUNT
$0 - $100,000 $100 - $250
79%
34
9%
4
$250 - $500
(thousands)
5%
2
$500 - $1.0
2%
1
Over $1.0
5%
2
(thousands)
(thousands to millions) (millions)
Capital Investment 2012:
2011
Do you expect to make any capital investments in 2012? (Purchase any equipment, real property, or intangibles that will have more than one year of use.)
RESPONSE PERCENT
RESPONSE COUNT
Yes
51%
39
No
49%
38
2011
Capital Investment 2012:
If you do plan to make a capital investment in 2012, approximately how much do you think it will be?
RESPONSE PERCENT
RESPONSE COUNT
$0 - $100,000 $100 - $250
74%
29
(thousands)
13%
5
$250 - $500
(thousands)
10%
4
$500 - $1.0
0%
0
Over $1.0
3%
1
(thousands to millions) (millions)
5 SBDC ANNUAL REPORT 2011
1999
2000
2001
Did You Know?
2002
2003
2004
2005
2006
2007
2008
2009
The creator of the Nike Swoosh symbol was paid $35 for the design in 1971.
2010
2011
OUR CLIENTS
Helen & Gary Sage, Sage Oil Vac
Crystal Bundy, Bear Mill
Annabeth Baker, Custom Threads
Holly Hutchins, Edible Arrangements
Dawn Hallgren, Le Chateau Pet Resort
Rod & Vanda Lancour, Support Hose Plus
6 WTA&M SBDC 25 YEAR ANNIVERSARY
Tim & Daphne Cox, Ken & Debbie Adams General Office Supply
Jacob Breeden, Process Art House
Juan Padilla, China Max in Westgate Mall
3500 3000
T O TA
2500
L CLIENTS TRAINED
23, 58 1
2000
25 YEARS OF SERVICE
1500 1000
No Data 500 0
1987
1988
1989
Cost for a gigabyte of data storage in 1993:
1990
1991
$2,048.00
1992
1993
1994
1995
1996
1997
1998
CLIENT SURVEY
FUNDING OPTIONS The news continues to report on how difficult it is to fund small business. Here is what our locals experienced in 2011.
2011
Resources:
How did you finance your business in 2011?
RESPONSE PERCENT
(Check all that apply.)
RESPONSE COUNT
Personal Resources
(self-ďŹ nanced)
29%
21
Loan from a Bank
19%
14
Loan from Savings & Loan Loan from Friend
0%
0
6%
4
Loan from Non-Bank Lender PRPC microloan or govt. sponsored program
0%
0
Loan or Investment from investors
3%
2
Credit from vendor or supplier
1%
1
Credit Card (s) EDC or other
8%
6
0%
0
or family member
or other community agency
Other
6%
4
Not Applicable
51%
37
2011
Resources:
Were you able to get all the financing needed in 2011?
RESPONSE PERCENT
2010
RESPONSE COUNT
RESPONSE PERCENT
RESPONSE COUNT
Yes
37%
28
52.3%
56
No
16%
12
17.8%
19
Not applicable
36%
36
29.9%
32
7 SBDC ANNUAL REPORT 2011
1999
2000
2001
Did You Know?
2002
2003
2004
2005
2006
2007
2008
2009
2010
In 1916, oil tycoon John Rockefeller was the first person to ever become a billionaire.
2011
OUR CLIENTS
Jack Klaus, Ralls Appliance
Michelle Juarez, Scarlet Cord
William & Gabrielle Stanhope, Alpha Lock and Safe
Mike Ramirez, High Plains Contractors and Management Group
Charlotte Lookingbill, D’Vine Wine
Karen Merchant & Diana Taylor, dnk Formals
8 WTA&M SBDC 25 YEAR ANNIVERSARY
Robin Gertonson, Executive Office Suites of Amarillo
Robert Urteaga, Midwest Fabrication
Samphou Williams, Brock’s Laundry
500
400
T O TA L
J O B S C R E AT E D
5, 681
300
25 YEARS OF SERVICE 200
Estimated 100
0
1987
1988
1989
Cost for a gigabyte of data storage in 1996:
1990
$212.00
1991
1992
1993
1994
1995
1996
1997
1998
CLIENT SURVEY
FINDING APPROPRIATE ASSISTANCE The news continues to report on how difficult it is to fund small business. Here is what our locals experienced in 2011.
2011
Resources:
Which of the following business resources are you familiar with?
RESPONSE PERCENT
(Check all that apply.)
2010
RESPONSE COUNT
RESPONSE PERCENT
RESPONSE COUNT
New Markets Tax Credits
17%
11
7.6%
Small Business SBDC Development Center
86%
57
79.0%
83
Enterprise Center
58%
38
—
—
Contract Procurement Center
29%
19
—
—
SBA Loan Guarantees
74%
49
54.3%
57
EDP Plus Program
3%
2
2.9%
3
West Texas Angel Network
29%
19
19.0%
20
8
Equitrend Capital
18%
12
10.5%
11
TPRDC Microloans
18%
12
—
—
PRPC Microloans
21%
14
21.0%
22
Texas Panhandle Regional Development Corp. at Amarillo EDC
Accion Texas
5%
3
4.8%
5
Enterprize Challenge
58%
38
57.1%
60
Emerging Technology Fund
21%
14
12.4%
13
Texas Mezzanine Fund
14%
9
6.7%
7
Peer to Peer Lending
11%
7
4.8%
5
AEDC Interest Rebate Program
17%
11
15.2%
16
Center City Facade Grant
15%
10
27.6%
29
USDA Value Added Grant
14%
9
6.7%
7
USDA Biomass Grant
9%
6
3.8%
4
Route 66 Grant
5%
3
7.6%
8
Small Business Innovation Research Grant
18%
12
15.2%
16
9 SBDC ANNUAL REPORT 2011
1999
2000
2001
Did You Know?
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Henry Ford used leftover wood scraps from the production of the Model T to invent the first widely used formula for making charcoal briquettes. He later sold the formula to a relative by the name of E.G. Kingsford and the Kingsford company we know today was born.
OUR CLIENTS
Affiliated Services And Partners Contract Procurement Center contractprocurementcenter.com
WTAMU was awarded a contract from the Department of Defense to operate a Contract Procurement Center beginning in 2011. Contract Procurement Centers serve as the bridge between private businesses and government agencies who want to buy goods and services.
WT Office of Economic Innovation The WT Office of Economic Innovation was created to spin-out new companies which license research or products created by the university’s faculty & staff. OEI works with the Texas A&M Office of Technology Commercialization.
Northwest Texas Business and Industry Data Center nwtsbdc.org/bidc
The Northwest Texas Business and Industry Data Center provides business research services specializing in demographics, business statistics, and market research in order to complement the services provided by NWTSBDC counselors.
Texas Manufacturing Assistance Center nwtsbdc.org/TMAC2.htm
The Texas Manufacturing Assistance Center provides specialized assistance to any small Texas company that manufactures a product. TMAC is an affiliate of the Manufacturing Extension Partnership of the U.S. Department of Commerce National Institute of Standards and Technology.
West Texas Coalition for Innovation and Commercialization
WTA&M SBDC 25 YEAR ANNIVERSARY
10
wtcic.org
The West Texas Coalition for Innovation and Commercialization accepts and evaluates applications to the $200 million Texas Emerging Technology Fund. Commercialization awards provide selected, early-stage investments in new, technology-based, private entrepreneurial entities that collaborate with public or private institutions of higher education.
Rural Export Assistance Program reapsw.org
The Rural Export Assistance Program provides certified global business professionals to export-ready businesses for the purpose of establishing or growing a presence in the international marketplace.
$8
$7
Prime Rate
(Right-hand Scale)
$6
$5
Minimum Wage $4
$3
(Left-hand Scale)
1987
1988
1989
1990
Cost for a gigabyte of data storage in 2000:
1991
$9.58
1992
1993
1994
1995
1996
1997
1998
19
CLIENT SURVEY
FINDING APPROPRIATE ASSISTANCE (continued)
2011
Finding Appropriate Assistance:
Did you use any business services from WTAMU in 2011?
RESPONSE PERCENT
(Small Business Development Center, Enterprise Center, Sponsored Research, etc.)
RESPONSE COUNT
2010 RESPONSE PERCENT
RESPONSE COUNT
Yes
46%
35
41.9%
44
No
54%
41
58.1%
61
Finding Appropriate Assistance - For "yes" responses:
2011
If you did use business services from WTAMU in 2011, did it help your business?
RESPONSE PERCENT
(Small Business Development Center, Enterprise Center, Sponsored Research, etc.)
RESPONSE COUNT
2010 RESPONSE PERCENT
RESPONSE COUNT
Yes
97%
34
72.7%
32
No
3%
1
9.1%
4
2011
Will these government initiatives help or hurt your business? (Enter one choice for each initiative.)
HURTS
NO EFFECT
33
1
31
65
37
2
24
63
HELPS
Keeping Reduced Payroll Taxes for 2012 Reducing Corporate Taxes Rates
RESPONSE COUNT
11
0.10
0.08
0.06
0.04
99
2000
2001
Did You Know?
2002
2003
2004
2005
2006
2007
2008
2009
2010
Immigrants are more than twice as likely to start a new business as native born citizens.
2011
0.02
SBDC ANNUAL REPORT 2011
0.12
OUR CLIENTS
Our clients’ favorite business quotes
of Commerce Borger Chamber 3 N :Main 61 0; 49 x ‘Bo P.O. 79008 xas ‘Te r, rge Bo 88 1; :fax 273-3 4 (806) 274-221 om @amaonline.c borgerchamber
“The dictionary is the only place where success comes before work.”
08
January 22, 20
—Arthur Brisbane, American journalist (1864-1910) “People of genius are admired. People of wealth are envied. People of power are feared. But only people of character are trusted.” —Arthur Friedman
presentworkshop you le ’ is true of the how many peop in the pudding u is yo l of tel pro t e no ‘th n I ca ent — ople in Borger. workshop. They The old statem pe the ess m sin fro bu r ted fi for ou they bene through. ed on Marketing d us how much nning to carry come by and tol made and are pla ve have called or ha y the ns dual pla in helping these have cited indivi evening with us for spending the ns. pla vid g Da tin d rke an u ma nks to yo on their move forward My sincere tha be motivated to d an lop ve de d energies with folks l experiences, an pertise, practica ex ur yo ng ari u for sh Again, thank yo night. us on Thursday
Dear P.J.:
“Experience is a hard teacher because she gives the test first, the lesson afterwards.” —Vernon Sanders Law
Sincerely,
“Ability is what you’re capable of doing. Motivation determines what you do. Attitude determines how well you do it.”
K. Benton rlyy K Beveerl CEO/President
—Lou Holtz “Luck is what happens when preparation meets opportunity.” —Elmer Letterman
12 WTA&M SBDC 25 YEAR ANNIVERSARY
“Throughout history, people have focused too little on the opportunities that problems present. The 21st century offers great hope and glorious promise, perhaps a new golden age of opportunity.” —Sir John Templeton
WT joins A&M system EnterPrize Challenge created
Amarillo EDC created
SBDC DIRECTORS L.B. Hendrix
Don Taylor
SBDC LOCATIONS Campus
1987
1988
1800 S Washington
1989
1990
Cost for a gigabyte of data storage in 2003:
1991
$2.58
1992
1993
1994
1995
1996
1997
1998
199
CLIENT SURVEY
MARKETING Marketing is an essential element of a successful business, and when times are bad it becomes more important than ever. Here is how area businesses used marketing in 2010:
2010
2011
Marketing:
In 2011, did your marketing activities…
RESPONSE PERCENT
RESPONSE COUNT
RESPONSE PERCENT
RESPONSE COUNT
Increase
38%
29
44.2%
46
Decrease
12%
9
5.8%
6
Stay about same
36%
27
40.4%
42
Not applicable
14%
11
9.6%
10
2010
2011
Marketing:
RESPONSE PERCENT
In 2011, what types of marketing did you use?
RESPONSE COUNT
RESPONSE PERCENT
RESPONSE COUNT
Billboards
16%
10
11.5%
12
22%
14
14.4%
15
50%
32
53.8%
56
Direct Mail
31%
20
37.5%
39
Radio
25%
16
24.0%
25
55%
35
48.1%
50
Website Promo Items
72%
46
67.3%
70
30%
19
29.8%
31
Yellow Pages
44%
28
44.2%
46
Vehicle Signage Store Signage
23%
15
22.1%
23
(outside your location)
27%
17
26.0%
27
Sales Calls (door to door)
8%
5
10.6%
11
Telephone
16%
10
17.3%
18
Internet (ads/leads)
13%
8
14.4%
15
Face to Face
networking
55%
35
55.8%
58
Social Media
47%
30
—
—
Other
13%
8
—
—
(outbound calls)
Facebook, Twitter, etc.
WT Enterprise Center created
13 SBDC ANNUAL REPORT 2011
TV Print
University Center Program created Equitrend Capital Formed
Contract Procurement Center hosted West Texas Angel Network launched
Bill Harrington
PJ Pronger
2300 N Western
9
2000
2001
Did You Know?
2002
2003
701 S Taylor
2004
2005
2006
2007
2008
Small Business Firms pay 43% of the total U.S. private payroll.
2009
2010
2011
SBDC STAFF
STAFF 1) David Dickerson Assistant Director Bilingual English/Spanish M.B.A. in Finance
2) Gina Woodward 2
1
3
Consulting Coordinator B.B.A. in Marketing, B.S. in Psychology Social Media Manager
3) Julie Attebury Senior Business Consultant Licensed real estate broker M.B.A. in General Business
4) P.J. Pronger 4
5
6
Director Certified Internet Webmaster M.P.A. in Accounting
5) Rick Palmer Director of Contract Procurement B.S. Industrial Distribution
6) Ana Ramirez Named Outstanding Student Employee for WTAMU Graduating in 2012 with a B.B.A.
WTA&M SBDC 25 YEAR ANNIVERSARY
14
Many great people have worked at the SBDC over the past 25 years prior to the current staff. They include:
Directors: L.B. Hendrix Don Taylor Bill Harrington
Counselors: Bill Harrington Bill Pulliam David Shipman David Terry Cindy Garth Jeff Reid Nicole Havrilla Lisa Gray
Cost for a gigabyte of data storage in 2007:
$0.42
Support: Ann Stanford Kim Stephens Kathy McNabb China Osburn Lisa Gray Joann Graves JJ Walker
Students: Louis Ortiz David Bryan Marwan Touma Crissy Gilliam Maribel Madrid
respondents prior to any new legislation.
2011
Health Care:
Did you offer healthcare to your employees in 2011?
RESPONSE PERCENT
RESPONSE COUNT
2010 RESPONSE PERCENT
RESPONSE COUNT
Yes
31%
23
36.5%
38
No
48%
36
35.6%
37
No employees
21%
16
27.9%
29
Health Care:
Do you plan to offer healthcare to your employees in 2012?
2011 RESPONSE PERCENT
RESPONSE COUNT
2010 RESPONSE PERCENT
RESPONSE COUNT
Yes
35%
26
42.3%
44
No No employees
42%
31
28.8%
30
23%
17
28.8%
30
(in 2012)
CLIENT SURVEY
EMPLOYMENT & HEALTHCARE Employer-sponsored healthcare is in for a change in the coming years; these questions reflect the thinking of our
THE OUTLOOK These results speak for themselves.
2011 vs. 2010:
Is your financial position today better or worse than it was one year ago? (Considering your cash on hand, payables, receivables, and debt load.)
2011 RESPONSE PERCENT
RESPONSE COUNT
RESPONSE COUNT
Better
41%
31
39.4%
41
Worse
21%
16
28.8%
30
About the Same
37%
28
31.7%
33
2011
2012 vs. 2011:
Do you believe that 2012 will be better than 2011?
RESPONSE PERCENT
RESPONSE COUNT
2010 RESPONSE PERCENT
44
75.0%
78
17%
13
10.6%
11
Don’t know
24%
18
14.4%
15
SBDC ANNUAL REPORT 2011
59%
No
New businesses have created nearly all net new jobs since 1980.
15
RESPONSE COUNT
Yes
E nd of Sur v ey
Did You Know?
2010 RESPONSE PERCENT
The Organization
Part of a nation-wide network, the SBDC is a department of West Texas A&M University in the College of Business and is a member of the Northwest Texas SBDC Region. Vision Statement – The WTA&MU SBDC will be recognized as the Panhandle’s resource of choice for entrepreneurs. It will be the most professional and competent source of business information, business resources, and analytical services for helping individuals realize their business dreams. Mission Statement – The SBDC’s mission is to provide consulting, training, and research to small businesses in pursuit of community economic development. Values – The values governing the SBDC’s activities include: • • • • •
Professionalism Competence Accuracy of Knowledge Ethical Conduct Real Value to Clients
Service Area
Service Area
The designated service area for the SBDC is the top 25 counties of the Panhandle. (Childress county is attached to the Wichita Falls SBDC.)
WTA&M SBDC 25 YEAR ANNIVERSARY
16
While we don’t market our services outside this area, we are free to assist clients in other locations upon their request.
Dallam
Sherman
Hansford
HartleyH
Moore
Potter
Oldham
Deaf Smith
Outreach
The SBDC can send staff to any area of the Panhandle and provide all our regular services. We also maintain a website with resource links and publish a monthly e-newsletter with business tips and information about funding sources and training. We regularly provide programs for civic groups throughout our 25 county service area.
Funding
The SBDC receives major funding from the U.S. Small Business Administration and the State of Texas and is not dependent on the general budget from WTAMU. We also receive additional private support from local businesses and individuals. The SBDC program is a true bargain for taxpayers — for every $1 dollar in program funding received, the SBDC generates $9.63 in new tax revenues. There is also a multiplier effect — every $1 expended on the SBDC operation was leveraged by $14.38 raised in new capital by clients. Source – The Chrisman Report
Cost for a gigabyte of data storage in 2010:
$0.08
Parmer
Castro
Randall
Swisher
Ochiltree
Lipscomb
Hutchinson
Roberts
emphill
Carson
Gray
Wheeler
Armstrong
Donley
Collingsworth
Briscoe
Hall
DBAs
Activities Consulting
Individual consulting is provided to any small business person on a free and confidential basis, with specialties in the following: Startup Planning, Business Plans, Financial Analysis, Business Valuation, Financing and Investors, Marketing and Advertising, and Internet Operations.
DBAs, or Assumed Name Certificates, are used to make ownership information about businesses public. DBAs are filed with the county and/or Secretary of State. The SBDC provides forms, advice, and notary services for DBA filings, and we publish an informative booklet which describes the process and answers common questions.
Training
Collaborations
Research
Amarillo Chamber of Commerce
The SBDC conducts seminars and workshops throughout the year on a variety of topics such as Marketing, QuickBooks, Intellectual Property, Social Media and Sales Tax.
The SBDC has access to market research resources which can be utilized to find the answer to questions ranging from legal statutes to consumer preferences. Most research is provided free of charge.
The SBDC makes every effort to coordinate and collaborate with other organizations involved in economic development. In 2011 we were pleased to work with all of the following:
Amarillo College Amarillo EDC Amarillo Hispanic Chamber of Commerce Borger Chamber of Commerce
Results
SBDC activities are monitored and measured by both the SBA and an independent auditor. Results recorded for Fiscal Year 2011 are as follows:
Borger EDC Business and Industry Data Center B&W Pantex Cannon Air Force Base Dalhart Chamber of Commerce Dumas EDC Enterprise Network Entrepreneur Alliance, Inc.
METRIC
ACTUAL
340
543
2,200
2,499
New Businesses Opened
45
50
New Jobs Created
185
190
New Capital Formed
NA
$6,880,971
Training Sessions Held
30
82
600
808
Clients Served Total Client Hours
Training Attendance
Did You Know?
High Ground of Texas Pampa Chamber of Commerce
17
Perryton CDC Potter County Leadership Advisory Board Texas Manufacturing Assistance Center Texas Panhandle Regional Development Corporation Texas Tech Health Sciences Center Texas Tech University System Tulia High School West Texas Angel Network WTAMU Office of Economic Innovation
80% of Americans say they would rather be the owner of a successful small business than the CEO of a Fortune 500 company.
SBDC ANNUAL REPORT 2011
GOAL
FINANCE
18
701 S Taylor, Ste 118 • Amarillo, Texas 79101 Phone: 806.372.5151
www.wtsbdc.com
A member of the Texas A&M University System A member of Northwest Texas SBDC Region Network
Funded in part through a cooperative agreement with the U.S. Small Business Administration The SBDC does not discriminate on the basis of race, color, creed, national origin, ancestry, sex, marital status, disability, religious, or political affiliation, age or sexual orientation. The SBDC is committed to ensuring that its programs and services are available to all persons, including persons with disabilities or needing language assistance. For persons needing an accommodation to an SBDC program, it is best that we receive your request at least 10 working days before a scheduled event. Coop agreement # 2-603001-Z-0048