Small businesses make a big impact on Idaho’s economy. And, according to a recent report, those who seek expert advice consistently outperform their counterparts.
The Idaho Small Business Development Center, headquartered at Boise State University, has released its annual impact report for 2008 that measures the success of the Idaho SBDC in its efforts to assist the state’s small businesses.
The report shows that Idaho SBDC clients added jobs at 9.6 times the average rate for Idaho small businesses with a total of 1,175 jobs created or saved in 2008. Sales increased $107 million for Idaho SBDC clients, and those clients generated $7 million in additional state and federal tax revenues. Overall, for every $1 invested in the program there was a return of $7.38 to the state’s economy.
“The importance of Boise State’s focus on bolstering the Idaho economy becomes more important every day,” said Boise State President Bob Kustra. “These numbers show that the Small Business Development Center is creating real jobs and provides a significant return on the investment. We’re proud to be part of programs and partnerships like these that will help Idaho business lead our economy back to health.”
Idaho’s SBDC served 1,610 clients with one-on-one consulting and 2,864 individuals with focused, high-impact training in 2008.
“Solid business practices and smart decisions are keys to survival and success,” said Idaho SBDC state director Jim Hogge. “That’s where the Idaho SBDC adds value.”
About 97 percent of Idaho firms are considered small businesses — those with 500 or fewer employees. State and national statistics show that small businesses create 70 percent to 80 percent of all new jobs.
The Idaho SBDC is a statewide network with six offices located at Idaho’s state colleges and universities. The program provides no-cost confidential business consulting and affordable training and seminars to Idaho’s for-profit small businesses. Through a partnership with the Idaho Department of Environmental Quality, the Idaho SBDC also provides environmental regulatory assistance, and has recently added a bilingual consultant to assist the Hispanic business community. The center serves clients in all of Idaho’s 44 counties.
For more information on the annual report or Idaho SBDC services, call (208) 426-1640 or visit www.idahosbdc.org.
The Idaho SBDC is housed within the College of Business and Economics (COBE) at Boise State. The college offers a wide variety of assistance to businesses. For more information about COBE initiatives, call (208) 426-4950 or visit http://cobe.boisestate.edu.
News Source: Sherry Squires, University Communications, (208) 426-1563, ssquires@boisestate.edu