Springfield feels impact of SBDC in fiscal 1997

The Small Business Development Center, located on the Southwest Missouri State University campus, had a positive impact on local business in fiscal year 1997, according to a release from SBDC.

In fiscal 1997, the SBDC served 224 businesses through one-on-one consultation, accumulating nearly 6,000 total consultation hours for the year an average of 27 hours per business, SBDC stated.

The documented economic impact of SBDC doubled in fiscal 1997 compared to fiscal 1996. Local consultants reported 1997 job creation of 193, up 93 percent from fiscal 1996. Job retention weighed in at 525, a 130 percent increase compared to 1996. Loans approved totaled $4,500,683, a 77 percent increase over fiscal 1996, while businesses retained measured 35, a 59 percent increase over the previous year, according to the SBDC release.

In addition, $22 million in increased sales were generated, as well as 16 new businesses created in fiscal 1997. Positive economic impact was also achieved in other areas, including business expansions or purchases; increased profits; increased exports; improved facilities; new equipment purchases; penetration of new markets; new products brought to market; copyrights, patents and trademarks obtained; EDI implementation; and reduction in the cost of goods sold, according to SBDC.