The Small Business Development Center [SBDC] exists to help small businesses succeed, yet few clearly understand what we do, how we do it, and who we serve.
Stuart Arnold
Common misconceptions include that the Kentucky SBDC is a part of the federal Small Business Administration [SBA]. While the SBA is our primary funder and supporter, we are separate organizations with different goals and objectives. The Kentucky SBDC can help a client prepare a loan and business plan package for an SBA loan, but it can also be through any source of financial assistance that fits a business’ needs.
The Kentucky SBDC is administered by the University of Kentucky’s College of Agri-culture, Food and Environment in partnership with regional universities, community and private colleges, economic development organizations and the private sector.
There is no fee to SBDC clients for coaching services, including help preparing a business or marketing plan, with market research or financial projections. The funding we receive is the taxpayers’ investment in your business and its future success to grow and add to the tax base and job opportunities.
The Kentucky SBDC operates locations throughout the state, and our skilled business coaches invest their time to produce business education tools and resources that are shared on our webpage. The Kentucky SBDC also offers webinars, workshops and presentations in conjunction with economic development organizations, Chambers of Commerce and other local outlets.
Many SBDC business coaches are business owners, too, and we want to share what we’ve learned along the way. Coaches can also tap the expertise of other coaches around the state to assist clients with a particular topic. In addition to our internal skills and resources, we boast a robust network of external connections and providers. For example, America’s SBDC is our national hub for a wide array of information, services and tools that every SBDC office around the country can access and draw upon.
We repeatedly hear from clients that their local Small Business Development Center is “the best-kept secret ever,” and we agree. The Kentucky SBDC has assisted the commonwealth’s small-business community for more than 40 years. With 15 locations statewide and experienced and knowledgeable staff, the Kentucky SBDC provides valuable business coaching and training services to help existing business owners and potential entrepreneurs start, grow and succeed in their endeavors.
Stuart Arnold is a business coach with the Kentucky Small Business Development Center’s Lexington office. He can be reached at stuart.arnold@uky.edu. Visit kentuckysbdc.com for more information.