Haas study: Florida SBDCs have substantial economic impact

Published: Wednesday, October 2, 2013 at 06:30 PM.

The Florida Small Business Development Center Network program reportedly helped approximately 38,000 Florida entrepreneurs and small business owners create, retain and save 47,845 jobs at $112 per job to the Florida taxpayer.

There was also $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started, according to a Haas Center independent study, "Economic Impact of the Florida SBDC Business Development Activities on the Florida Economy 2013.”

Network officials stated via email that small businesses employ more than 42 percent of Florida's workforce and represent 98 percent of the state's firms. These growing businesses generated $215 million in state tax revenue, and contributed $3.9 billion to the state's economy because of the Florida SBDC Network’s work, they said.

The research also found that small businesses assisted by SBDCs grow much faster than the average Florida firm, and that the FSBDC helps create high-skill, high-wage jobs. Established manufacturing firms, for example, that received business consulting from the FSBDC saw a job growth of 9.2 percent, compared to 1.7 percent growth for the average Florida manufacturing firm.

SBDCs serve entrepreneurs and businesses through no-cost professional consulting, value-added business training, and access to business data and information.

Reader comments posted to this article may be published in our print edition. All rights reserved. This copyrighted material may not be re-published without permission. Links are encouraged.

▲ Return to Top

Local Faves