KUTZTOWN, Pa. — The PASBDC appreciates the Wolf administration’s budget proposal that includes continued level funding of $9.8M for the three partner groups of the Partnerships for Regional Economic Performance (PREP), including the Pennsylvania Small Business Development Center program that is funded at a level of $3.2M. This funding supports local industrial development organizations, the seven Local Development Districts, and the 16 Pennsylvania Small Business Development Centers. Additionally, we support the proposed competitive funding of $1.5M for the PREP in its efforts to further strengthen the manufacturing community.
The uncertainty of the past year left many small businesses in a whirlwind, unsure where to seek assistance. The Pennsylvania SBDC network expanded its outreach and resources to thousands of small businesses, helping them reinvent their business models.
For the fourth straight year the PASBDC surpassed its prior performance and met all its primary funding partner goals. The PASBDC is focused on being a high-performance program that operates efficiently and effectively for our taxpayers. The following results tell part of our story.
PASBDC consulting impact during the 2020 pandemic year:
• 703 new business starts
• $150,000 of government contracts/subcontracts
• 79,472 small business jobs supported
• $300,629,954 supported capital infusion
• 2,375 client capital infusion transitions
• $3,139,7013 supported revenue growth
• 13,128 clients served
“We welcome the continued support from the Wolf administration for the Pennsylvania SBDC program and we look forward to working with our numerous bipartisan legislative champions to ensure that level funding is maintained for the program, allowing us to continue to serve our small business owners during this critical time of need” said State Director Ernie Post, D. Ed.
To keep small business owners up to date, PASBDC continues to host free weekly webinars on the SBA Economic Injury Disaster Loan (EIDL) and Payroll Protection Loan (PPP) application process.
The PASBDC leverages every state taxpayer dollar in the program with more than $3.00 in federal funding and another $1.00 of funding from our host institutions and corporate funds raised to support the mission of the program.
As the COVID-19 pandemic continues to weigh on the economy, PASBDC support for businesses remains our top priority with resources and guidance especially in the area of response and recovery to pivot and adapt to new revenue sources.
About the Pennsylvania Small Business Development Center (SBDC)
The Pennsylvania SBDC network serves as the principal organization for the advancement of entrepreneurial growth in the Commonwealth. Through no cost professional strategic business advisors and low cost training programs we create a positive foundation for the development and growth of existing and emerging businesses in Pennsylvania. The Network’s focus on the critical needs of small business drives its direction and performance expectations. The Pennsylvania SBDC is the principal provider of consulting and educational programming for existing small business owners and nascent entrepreneurs. Funding from the Pennsylvania Department of Community and Economic Development through primarily through the PREP allocation leverages more than $2 of additional federal funding and more than $1.50 of additional local institutional funding from our 16 premier higher education universities that host and financially support their SBDC to serve their regional small business needs.