Job creation in an uncertain economy is on everyone’s mind today. Small to mid-size businesses are creating the vast majority of new jobs, according to The Small Business Administration(SBA).
“One of the major hurdles to small businesses growing and creating jobs is their inability to secure financing. They need lines of credit, equipment loans, real estate loans and working capital. It is difficult for the small business owner to prepare the essential business plan and loan proposal necessary to obtain these funds.” said Paula Camara, Senior Business Advisor (Clark University SBDC)
The Clark University Small Business Development Center (SBDC) has helped many people navigate this process and assisted the client in developing a roadmap, as well as, gathering the necessary information to present a solid financial proposal to the funding source, be it bank loans, private financing, equity or alternative lending. The Clark University SBDC is one of the top centers in the country for helping clients in gaining access to capital over the past ten years. Their loan packaging process is well known and respected by the regional banks and SBA.
Companies that survived in 2008-2009 are now growing and expanding. Small manufacturers are buying property and equipment, investing in tooling and bringing back some jobs from China due to quality concerns.
Merger and acquisition activity is up as well. Companies or individuals are now looking to buy a company, benefit from Mass Small Business Development Center(MSBDC) services as they assist with valuation, due dilligence and access to capital.
All companies, no matter what stage they are in, need marketing, sales, cash flow management and advice from someone who understands the demands of business ownership. Many of the SBDC clients are working on strategic marketing plans that incorporate social media and changing technologies.
The MSBDC services help business owners better manage their companies, allowing them to grow faster.
In 2010 the Clark SBDC provided business advisory services to 837 clients (more than half of them existing businesses) resulting in $16.9 million capital infusion, 41 new business launches, 210 jobs created and 213 jobs saved.
During the 29 years at Clark University, the Massachusetts Small Business Development Center Network Program has assissted over 21,000 entrepreneurs and small business owners. They helped clients raise $227 million in capital and created 3,500 new jobs in Central Massachusetts.
Free one-to-one confidential appointments are held at the Marlborough Regional Chamber of Commerce offices located at 11 Florence Street, Marlborough, MA or at Clark University, Worcester, MA.
If your business is at a point where a review with Paula Camara, Senior Advisor for Clark SBDC, would be of value, call the Marlborough Regional Chamber of Commerce at 508-485-7746 for an appointment.