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America’s SBDC Releases Annual Report: Key Insights Into Growth and Impact on Small Businesses

National Network Showcases Success Stories, Economic Contributions, and Future Plans

WASHINGTON, Feb. 10, 2025 /PRNewswire/ – America’s Small Business Development Center (SBDC) has unveiled its highly anticipated annual report, detailing significant strides made in fostering economic expansion, job creation, and innovation among entrepreneurs across the United States. This year’s report highlights the extensive reach and effectiveness of the SBDC network, which aids countless existing businesses and aspiring entrepreneurs annually, affirming its vital role in the ecosystem of small enterprises.

Enhancing Local Communities Through National Initiatives

This year’s theme is Unleashing National Impact, Igniting Local Transformation. It emphasizes the critical role America’s SBDCs play in empowering small businesses while making meaningful changes in local communities. The report outlines how these centers have substantially contributed to economic vitality through tailored programs and local partnerships designed to bolster entrepreneurial efforts.

Key Highlights from the Annual Report

Record-Breaking Client Success

• The SBDC network assisted over 317,480 small businesses and entrepreneurs in the past year. As a result, an impressive 80,995 new jobs were created, alongside 15,794 new business starts. This indicates a robust demand for SBDC services among the entrepreneurial community.

Impactful Access to Capital

• In a significant advancement for small business funding, SBDCs facilitated access to over $6.6 billion in various types of financing. This support has been crucial for business owners seeking loans, grants, and investor backing to start or expand their operations.

Innovative Education and Training

• Thousands of training workshops and webinars covering essential topics like business planning, digital marketing, e-commerce, exporting, and financial management were provided. These educational offerings are vital for equipping modern entrepreneurs with the skills they need for success.

Cultivating Local and National Partnerships

• The SBDC network partnered with federal agencies, state governments, local chambers of commerce, and corporate partners to enhance small business resources. This cooperation aims to promote entrepreneurship and fortify economically disadvantaged communities.

Adapting and Building Resilience

• In response to ongoing economic challenges and supply chain disruptions, SBDCs have prioritized adaptation and resilience. They developed strategies to help small businesses navigate the complexities of the current economic landscape, including embracing new digital technologies.

Exceptional Client Satisfaction

• Notably, 90% of SBDC clients reported that the services were beneficial, while 96% of established business clients would recommend SBDC services to others. Clients rated SBDC advisors 4.5 out of 5 stars, reflecting a high level of satisfaction with the support they received.

Commitment to Positively Impacting Lives

"America’s SBDC remains at the forefront of small business assistance and advocacy. We are immensely proud of our achievements this year. By combining expert guidance, proven tools, and a strong network of supportive partners, we continue to transform lives and communities," stated Charles "Tee" Rowe, President and CEO of America’s SBDC. “Looking ahead, we aim to build on this momentum by further expanding our reach, embracing the latest technology, and advocating for policies that empower small businesses to thrive."

Future Initiatives and Strategic Directions

In addition to celebrating the successes of the past year, the Annual Report offers a comprehensive look at new initiatives. These initiatives include:

• Strategic partnerships with fintech organizations to further assist small business funding.
• Increased outreach efforts in rural communities, ensuring that support reaches those often overlooked.
• Advanced online training platforms that expand access to essential business resources.

Positioning itself for continued growth, America’s SBDC is devoted to broadening its impact and enhancing the support offered to aspiring entrepreneurs and small businesses.

Access the Comprehensive Annual Report

The 2023 Annual Report is now available for download, featuring client success stories, resource guides, and updated program details. Interested individuals can access the report by visiting America’s SBDC website at www.americassbdc.org.

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About America’s SBDC

America’s Small Business Development Center (America’s SBDC) is a nationwide network consisting of nearly 1,000 local centers. It provides no-cost, confidential business counseling, training, and research services geared toward small businesses and aspiring entrepreneurs. Funded through a partnership with the U.S. Small Business Administration (SBA) and supported locally by educational institutions and state economic development agencies, America’s SBDC strives to help small business owners create jobs, access essential capital, and foster innovation within their communities.

Media Contact

Melissa Strain
Director of Marketing, America’s SBDC
Phone: (703) 864-0844
Email: [email protected]

For further details, please visit the full Annual Report.
SOURCE: America’s SBDC

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