In 2021, the Wisconsin Small Business Development (SBDC) Network helped clients impacted by COVID-19 receive $20.8 million in federal aid and $2 million in state aid.
For that reason and many more, SBDC Day will again take on extra significance in 2022.
The sixth annual celebration of the collective impact and success of Small Business Development Centers across the nation is March 16.
“Entering the second year of the pandemic, the Wisconsin SBDC Network was strategically positioned, thanks to partnerships and resources across the state, to continue assisting businesses navigate uncertain conditions,” said Bon Wikenheiser, state director. “Our centers across the state not only saw the resilience of existing businesses in Wisconsin, they also saw a renewed desire to create new businesses and grow local economies.”
Working collaboratively with the Wisconsin district office of U.S. Small Business Administration (SBA) was key in helping businesses understand how to apply for federal relief. The Paycheck Protection Program (PPP), Economic Injury Disaster Loans and EIDL Advance continued to offer funding into 2021, which also saw the addition of the Restaurant Revitalization Fund.
At the state level, the Wisconsin Economic Development Corp. (WEDC) continued to be a strong partner in promoting various small business assistance programs as well.
Overall last year, the SBDC served 6,895 clients, resulting in $119.2 million in capital investment, 292 new businesses and 24,253 jobs supported.
“Wisconsin business owners’ ability to overcome challenges continues to be amazing,” Wikenheiser said. “The partnerships created between SBDC consultants and their clients allow sectors across the state to thrive.”
Small businesses, partners and advocates are invited to use the hashtag #SBDCDay in social media posts leading up to and especially on March 16.
With nearly 1,000 locations across the country, SBDCs provide entrepreneurs with the resources to succeed and measurable economic results. In 2020, SBDCs helped generate 18,691 businesses starts, 71,399 jobs, $7.6 billion in sales growth and $6 billion in capital investment.
To learn more about #SBDCDay, visit www.AmericasSBDC.org/SBDCDay.
About the Wisconsin SBDC
The Wisconsin Small Business Development Center (SBDC) is a nationally accredited statewide network supporting entrepreneurs and business owners through no-cost, confidential consulting and business education. Regional SBDC experts facilitate improvement and growth for small and emerging mid-size companies and help launch successful new enterprises. The Wisconsin SBDC Network is hosted by the University of Wisconsin System within the Institute for Business & Entrepreneurship. www.wisconsinSBDC.org
About America’s SBDC
America’s SBDC represents the Nation’s 63 Small Business Development Centers, a national network of partnerships uniting higher education, state and local nonprofit economic development organizations, private enterprise and government. It is the Small Business Administration’s largest partnership program, providing management and technical assistance to help Americans start, run and grow their own businesses. www.americassbdc.org