Every dollar invested in the Kentucky Small Business Development Center creates a return of $3.03 to the economy, according to a study released this summer.
In addition each dollar invested directly into counseling services creates a return of $10.13, according to the study, which was conducted by James J. Chrisman, professor of management at Mississippi State University.
Additional findings from the study show that, during the 2015-2016 fiscal year, KSBDC clients created 1,927 new jobs; generated $88.6 million in incremental sales; yielded $10 million in tax revenue ($3.5 million from established business clients and $6.5 million from pre-venture new businesses0; and obtained $82.8 million in financing.
“It is the consistent commitment to small businesses shown by KSBDC’s 12 offices that leads to results like these. We are very proud of this independent, third-party research, and look forward to another year of positively impacting our local economy,” said Becky Naugle, KSBDC state director, in a release announcing the study results.
The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 12 offices located throughout the state. KSBDC is an accredited partner program with the U.S. Small Business Administration. For more information on KSBDC, visit http://www.ksbdc.org.