Economic development plays a crucial role in driving growth and stability in our communities, and small business development is at the very heart of this mission. At the Onondaga | Watertown Small Business Development Center (SBDC), we’ve been honored to support over $700 million in capital investment and help launch more than 4,400 businesses over the past 40 years. Through our efforts, we’ve witnessed first-hand the transformative power that small businesses hold in shaping our local economies.
A Legacy of Support for Entrepreneurs As Robert Griffin, Regional Director of the SBDC, shared in his recent testimony before the Committees on Small Business and Economic Development, the SBDC’s work helps entrepreneurs at every stage of their journey. Whether assisting individuals with initial business ideas or guiding them through succession planning, the SBDC has played a pivotal role in transforming aspirations into reality. Each year, we typically assist over 1,600 entrepreneurs across eight counties in Central New York and the North Country, generating more than $20 million in capital investment. From local restaurants and retail shops to tech startups, the businesses we serve are diverse, but they share one common denominator—they are the engines of local economic growth. Real Stories, Real Impact The success stories of our clients highlight just how essential small businesses are to our economy. Take Arteika Hunter, for example. Arteika founded "Clean and Glo Cleaning" in Syracuse with help from the SBDC. Her idea of starting a small commercial cleaning company blossomed into a thriving business that now provides opportunities to other contractors in the area. Not only did Arteika grow her own enterprise, but she also shared her expertise with others by self-publishing a book on obtaining MWBE certification—a true testament to the ripple effect of entrepreneurship. Another powerful story is that of Michael Bower, a Veteran Entrepreneur of the Year honoree. Michael saved Eagle Metalcraft, a small metal fabrication company, from closure with our support. His efforts preserved 13 jobs, and today, his workforce has grown to 31 employees. These aren't just numbers—each job represents a life changed, a family supported, and a community strengthened. Patricia Springer, the owner of Winand Products in Auburn, manufactures USDA organic and all-natural spices under the Perfeito brand. With our help, her woman-owned business has successfully navigated challenges in production and distribution, now poised to expand internationally. Her journey exemplifies the kind of growth and innovation that drives local economies forward. The Need for Sustainable Investment Despite these successes, we are facing significant challenges. Without sustainable funding from New York State, the future of the SBDC’s services is in jeopardy. Griffin explained that without a $5 million investment, the center could see a 40% reduction in staff over the next 18 months to two years, which would reduce the number of clients served annually from 1,600 to 1,000. Additionally, this cut could lead to an economic loss of over $8 million in capital investment for small businesses in the region. SBDC centers across the state are facing similar challenges. While we have been engaged in economic development for years, we have not been receiving adequate state funding for the economic development we’ve been delivering. This is why the call for state support in the 2024-25 budget is so critical. An Investment in the Future By investing in the SBDC, New York State will be supporting more than just individual entrepreneurs. This is an investment in sustainable job creation, local economic growth, and much-needed tax revenue for the state. As Griffin urged the committees, this funding is not just about maintaining the status quo; it’s about ensuring that the SBDC can continue to offer critical support to the increasing number of entrepreneurs who need it most. The future of small businesses in Central and Northern New York depends on this investment, and it will pay dividends for years to come. We urge the state to take action and secure a brighter, more prosperous future for our small business community. Supporting Small Businesses, Growing Local Economies At the Onondaga | Watertown SBDC, we are committed to continuing our support of entrepreneurs who drive growth and innovation in our region. With the right investment, we will not only maintain our capacity but expand our ability to foster economic development across Central and Northern New York. We look forward to the opportunity to keep building stronger, more resilient communities with the backing of the 2024-25 State Budget.
0 Comments
Leave a Reply. |
Our Blog
Read articles and advice written by our very own Onondaga SBDC Business Advisors! Topics
All
|