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SBDC Philipsburg; Start, Grow and Prosper
Penn State SBDC Helps Small Businesses Save Energy
Penn State SBDC Helps Turkey Farmer
Blaze New Path
Penn State SBDC Helps Student Entrepreneurs
Congratulations to Tim and Cat Cook for their grand re-opening of Monarch Martial Arts Academy on April 15, 2013.
Penn State News: Penn State SBDC helped entrepreneurs, created jobs in 2012 (Click link for full story.)
Clearfield Bank & Trust Company is sponsoring the Penn State SBDC Philipsburg office.
The Penn State Small Business Development Center was presented with a check for $1,200 today from Clearfield Bank & Trust to help support the operations of the Philipsburg SBDC
office. The U.S. Department of Agriculture provided seed funding to open the Philipsburg SBDC office in 2012, and now a variety of funding sources are being pursued to fund continued
operations.
The Philipsburg SBDC office provides free and confidential business consulting and assistance to both existing and start-up businesses in rural Centre County. The SBDC also hosts a
series of informational seminars related to starting and operating a small business.
Since the grand opening in March of this year, the Philipsburg office has worked with more than 50 clients. Among them: four have opened new businesses, one has purchased a
business, and six have completed business plans. The SBDC has also helped clients obtain $73,500 in financing.
More information can be obtained through the Penn State SBDC's website
http://sbdc.psu.edu/ or by calling 814-343-6239. The Philipsburg office is located at 207 North
Front Street and open Wednesday and Friday, 9:00 a.m.–4:00 p.m. Business consulting is available by appointment.
Penn State Small Business Development Center (SBDC) is part of a nationwide network of more than 1,000 centers. The Penn State SBDC provides free business assistance to small firms
and business start-ups in Centre and Mifflin counties, enabling them to compete and grow in today's highly competitive global economy. Penn State SBDC is part of Penn State Outreach, the
largest unified outreach organization in American higher education. Penn State Outreach serves more than 5 million people each year, delivering more than 2,000 programs to people in all
67 Pennsylvania counties, all 50 states and 115 countries worldwide.
(12/12)
Business Credit Card Resources
Finding ideal rates and terms for a personal credit card can be hassle enough, but at the same time, looking for the perfect business credit card can feel like too much trouble for too few advantages. But a business card can be the perfect solution for short-term credit needs when you are starting a new venture and need access to extra funds from month to month to cover inventory or overhead costs. A wide variety of online resources from government branches and major organizations exist to help you make the choice, but they can be difficult to find without a handy guide that collects them all in one place. Now, you can access that handy guide. Click here for the rest of the story.
Momentum Fitness Grand Opening
Click here to check out the video on YouTube (9/21/12)
Philipsburg Outreach Office Now Open
The Philipsburg Office is now open at 203 North Front Street in Philipsburg, thanks to funding through the U.S. Department of Agriculture (USDA). The SBDC provides free, confidential, one-on-one consulting and seminars to pre-venture, start-up, and existing small businesses located in Centre County. The hours are Mondays, 9:00 a.m.-4:00 p.m.; Tuesday-Friday by appointment.
To contact the office:
Phone: 814-343-6239
Fax: 814-343-6241
Mail: 203 North Front Street, Philipsburg, PA 16866
Email:
daj7@psu.edu (5/12)
The TechCelerator @ State College: The Next Generation of Entrepreneurial Support and Business Incubation Services
Located in the Technology Center at 200 Innovation Boulevard in State College, the TechCelerator @ State College is a partnership designed to offer the region’s entrepreneurs, students, faculty members, and small business owners designated space, loan and investment programs, business support and mentoring services, and entrepreneurial training, all housed in one location.
The partners include:
Ben Franklin Technology Partners of Central and Northern PennsylvaniaChamber of Business and Industry of Centre County/Centre County Industrial Development Corporation
Penn State Small Business Development Center (SBDC)
Ben Franklin’s Transformation Business Services Network and Venture Investment Forum
Penn State Office of Technology Management
Innovation Park at Penn State
This innovative, one-stop-shop approach to business incubation will encourage an entrepreneurial climate, increase technology transfer opportunities, and help develop a robust “startup” culture in State College and the surrounding area. A full menu of services designed to support new business activity will be offered, including a designated, shared workspace; on-site, one-on-one business mentors; professional marketing research; startup boot camp sessions for faculty and students; and entrepreneurial training classes.
For more information visit: www.techceleratorstatecollege.org
This year's event will be held October 2, 2013. We will bring together an extraordinary cast of speakers who are leaders in their fields of business, finance, health, and personal development. In this one-of-a-kind event, women from all over Central PA will benefit from a day of visionary leadership and collaborative learning all designed to help you start your next chapter. Click image above to learn more. (4/13)
Employment Growth Dependent upon Small Business Success
Small Business Development Centers Helping to Restore Pennsylvania's Lost Jobs
Pennsylvania’s best hope for restoring lost jobs lies in improving the performance of small companies, historically shown to contribute to economic recovery and employment growth.
Help for small firms and prospective business owners has become ever more critical as another 8,100 jobs disappeared last month, raising the state’s unemployment rate to 8.9 percent in 2010, according to the latest Pennsylvania Department of Labor and Industry report. This is where the Small Business Development Centers (SBDC) can play a key role.
Thousands of small businesses and entrepreneurs rely on the statewide network of 18 Small Business Development Centers for help in starting businesses, reducing costs and pursuing new markets — all of which leads to job retention and growth. Over the past year, clients of the SBDC reported they saved 3,431 jobs and created 1,561 more as a result of SBDC assistance.
The SBDC employs a three-pronged approach to stem job losses and create new employment opportunities:
- Prospective entrepreneurs, including the unemployed, are helped through the process of starting or purchasing a new business.
- Existing business owners receive counsel on improving efficiencies and implementing measures to prevent job loss.
- The SBDCs also help businesses strategically consider new markets to boost sales that lead to new hires.
“There has never been a time when SBDC services were more relevant to the economic health of the Commonwealth,” Christian Conroy, State Director of the Pennsylvania SBDC, said. “More small businesses are struggling to make it. More unemployed individuals are coming in to explore the possibility of business ownership. There just aren’t a lot of other options right now.”
Efforts to reverse the growing unemployment trend have been greatly hampered by a 41 percent cut in state funding for the SBDC program. Consulting staff, training workshops, research services and outreach offices have been slashed.
“Our ability to respond, as we have done very successfully in the past, has been significantly reduced because of the state funding cut,” Conroy reported. “Longer wait times for fewer clients who receive less of our time results in fewer jobs saved and fewer new employment opportunities.”
Dennis “Dutch” Wagner of Blair County exemplifies the types of entrepreneurially minded individuals who choose business ownership over unemployment compensation. Wagner, experienced in truck repair and service, saw the writing on the wall when his employer sold the Altoona-based business to an out-of-state company. Knowing it was only a matter of time before the company closed down operations, he pursued buying the company.
A consultant at the Saint Francis University Small Business Development Center’s Blair County Outreach Office provided guidance for the business plan, noting Wagner would need sufficient working capital to start out. Typical of the program’s comprehensive start-up services, Wagner received assistance in preparing a three year projected income statement, balance sheet, statement of cash flow and drafting a detailed narrative explaining how he arrived at the projected figures. He was also advised on filing for a fictitious name, applying for a sales tax license and obtaining local permits.
In the fall of 2009, Wagner’s loan request was approved through Altoona First Savings Bank, and he became official owner of the company, renamed Dutch’s Heavy Duty Truck Service. “The SBDC made an intimidating process seem simple,” Wagner remarked.
Hours at the outreach office where Wagner was served have since been halved as a result of the funding cut.
“Thanks to the SBDC’s help, a business was saved that may later hire down the road.” Conroy explained. “If policymakers care about jobs —and we know they do — they need to invest in activities that save and produce them, like starting new businesses and helping small firms win new sales.” (3/10)
- The Pennsylvania PASBDC publishes resources for small businesses. Access the current Resource Opportunity .
This institution is an equal opportunity provider.
Funding support and resources are provided by the Commonwealth of Pennsylvania through the Department of Community and Economic Development, through a cooperative agreement with the U.S. Small Business Administration (SBA), the U.S. Department of Agriculture (USDA), private sponsor and through support from Penn State. All services are extended to the public on a nondiscriminatory basis. Special arrangements for persons with disabilities can be made by calling 814-863-4293. All opinions, conclusions, or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.
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