Florida SBDC Network Bolsters State’s Economy

State’s principal provider of business assistance reports $17.1 billion GRP impact since 2011

Throughout the month of November, the nation has celebrated the entrepreneurs and small business owners who create jobs, build wealth, and add to the vibrancy of their communities as part of National Entrepreneurship Month. As the celebration comes to a close, the Florida SBDC Network—the state’s principal provider of business assistance—is pleased to highlight the impact of its service offering on Florida’s economy as part of its most recent annual report.

In 2015, Florida SBDCs delivered over 113,000 hours of business consulting to more than 12,000 client businesses. According to the Florida SBDC’s Annual Report—Celebrating Success, Redefining Possibilities, as a result of this assistance, client businesses created, retained and saved 32,398 jobs; grew sales $4.8 billion; acquired $301 million in government contract awards; accessed $276.8 million in capital investments; and started 404 new businesses.

“This year was a remarkable year for the Florida SBDC Network,” said Michael Myhre, CEO and Network State Director. “In 2016, the Florida SBDC celebrated its 40th anniversary, commemorating four decades of helping our state’s entrepreneurs and small businesses grow and succeed. At a time when job creation is of the utmost importance, we are very proud of the role the network is playing in Florida’s economic recovery.”

Vasu Vasudevan, President and CEO of Infotech Systems, and Florida SBDC at UCF Government Contracting Specialist Patricia Simpson
Vasu Vasudevan, President and CEO of Infotech Systems, and Florida SBDC at UCF Government Contracting Specialist Patricia Simpson

State designated as Florida’s principal provider of business assistance, the Florida SBDC Network serves emerging and aspiring entrepreneurs and small businesses through no-cost consulting, training, and resources. Consulting is focused on areas vital to accelerating business growth, including international trade, government contracting, and growth acceleration. Consulting is provided by professionally certified business consultants, many of whom have previously owned and operated their own small businesses. Collectively, Florida SBDC consultants represent thousands of years of business ownership experience and a broad spectrum of educational and professional backgrounds, including MBAs, PhDs, and CPAs.

Melbourne-based Infotech Systems, Inc., a developer of manufacturing and inventory control software and, more recently, a construction management company, is a testament to the Florida SBDC’s Government Contracting Service offering. President and CEO Vasu Vasudevan turned to the Florida SBDC at the University of Central Florida (UCF) for help applying for the U.S. SBA’s 8(a) Business Development Program certification, which helps small, socially and economically disadvantaged businesses compete in the federal marketplace. With the help of Florida SBDC at UCF Government Contracting Specialist Patricia Simpson, Infotech received its 8(a) certification and recently won their first contract worth more than $750,000 – a remarkable feat, having only been certified for one year.

The Florida SBDC’s annual report covers the efforts and achievements of the network, including selection for the President’s “E” Award for Export Service and receipt of the Florida Governor’s Sterling best practice award.

Since 2011, Florida SBDCs have provided 401,475 hours of consulting to 45,502 client businesses, resulting in 217,849 jobs created, retained and saved; $29.3 billion in sales growth; $2.1 billion in government contract awards; $947.4 million in capital investments; and 3,857 new businesses started.

To view the full report, please click here.