In one year, Iowa SBDC long-term (5+ hours) counseling clients returned $4.41 in tax revenues for every $1 cost of counseling, generated 1,001 new jobs, produced $125.3 million in incremental sales, contributed $8.3 million in federal and state tax revenues, and received $41.6 million in financing, all as a direct result of SBDC assistance. These same SBDC clients also saved or retained $6.4 million in sales and 351 jobs.
Iowa’s Small Business Development Center program is the only nationally-accredited entrepreneurial development organization in Iowa. Our 14 regional business assistance centers play an important role in ISU's land-grant mission by extending the College of Business directly into the business communities in all 99 Iowa counties. This helps create an economically stronger and healthier Iowa. In the past six years, the Iowa SBDC served 19,852 business clients with 117,533 hours of one-on-one counseling and taught 35,024 Iowans during 231,979 hours of training workshops. That’s almost 55,000 Iowa business people assisted in just 6 years with nearly 350,000 hours of professional business assistance.
Iowa is home to approximately 100,000 small businesses. Many of the businesses are owned by people nearing retirement age and many do not have a succession plan for their business. To address this challenge, the Iowa Small Business Development Centers are leading a Business Succession program that will educate Iowa's small business owners on the importance of good succession planning and offer resources to help owners successfully transfer their businesses. We also intend to develop a matching mechanism for business sellers and buyers so they can more easily find each other.