Business Development Center Spurs Kentucky’s Economy

LEXINGTON, KY (March 25, 2009) − The Kentucky Small Business Development Center (KSBDC), a division of the University of Kentucky’s Office for Commercialization and Economic Development, contributed significantly to Kentucky’s economy during its recent fiscal year, Oct. 1, 2007 through Sept. 30, 2008.

The KSBDC’s impact on Kentucky’s economy includes:

• KSBDC clients added $53.5 million in sales to the economy.
• KSBDC clients received 230 loans totaling more than $24.9 million.
• KSBDC clients created or retained 1,065 jobs.
• KSBDC clients’ returned $9.20 to the economy per every dollar invested in long term counseling.

KSBDC’s economic impact figures are derived from the clients each of its centers served during the 2007–2008 program year. Nineteen KSBDC service centers and satellite offices located throughout the Commonwealth of Kentucky provided 2,129 potential or established business owners with one-on-one management consultations. More than 3,575 participants attended training workshops sponsored by the KSBDC. KSBDC responded to more than 30,000 requests for information during 2007– 2008.

The economic impact and client service numbers were released by the KSBDC today in its annual report. The report also includes client feedback data, a map of KSBDC service areas, economic impact numbers for a five-year period, and showcases of numerous businesses served by the KSBDC.

Additionally, the report shows results from an independent study that finds the sales and employment growth rates for KSBDC clients are higher than average Kentucky businesses. A complete copy of the 2007–2008 annual report can be downloaded at the KSBDC Web site.

KSBDC offers free one-on-one management consultations with professional and qualified consultants. Its consultants are experienced in assisting potential entrepreneurs with feasibility analyses, market research and business planning. Businesses utilizing SBDC assistance have access to experts on funding sources and go-to market strategies. Additionally, KSBDC offers affordable training workshops on a variety of subjects.

For more information on the KSBDC visit www.ksbdc.org.