The New Yavapai Economy: Spreading an Entrepreneurial Culture
The impact of small business on local and national economies is undeniable. Over 50% of Americans are employed by small and micro businesses, and those wages ripple through the economy in terms of increased household spending and further sales tax generation.
Yavapai County's local Small Business Development Center, hosted by Yavapai College, provides in-depth assistance for small business needs afforded though funding by the U.S. Small Business Administration that is matched by Yavapai College. With these resources, the YC SBDC serves over 145 small businesses throughout the Quad City Area and the Verde Valley in a variety of topics from understanding principles of Lean management and operations to financing and real estate purchases. The YC SBDC carefully tracks the impact of services by requiring clients to sign off on verified impacts like job creation and sales increases. This creates a measure of accountability for public dollars and identifies the return on investment for funding partners. Thus far in 2015 YC SBDC counseling services have supported the creation of 46 jobs, assisted in retaining 10 jobs, supported over $880,350 in increased sales, 22 new business start-ups, and $6.389 million in new capital formation (acquisition of loans and investments in local companies).
By leveraging partner resources across the county, the YC SBDC has been able to increase its capacity to reach all rural community members. Counseling is now available at NAU-Yavapai, located in Prescott Valley adjacent to the library, on Tuesdays. Yavapai Apache Nation hosts the YC SBDC Entrepreneurship Series and counseling the second Tuesday of every month, open to the public. The YC SBDC also partners heavily with our local SCORE chapter to provide workshops on special topics and business plan writing. On September 10th the YC SBDC is hosting a free Loan Clinic in conjunction with SCORE at Yavapai College, lunch included thanks to Wells Fargo Banking.
Business needs in 2015 are dramatically different from those even 8 years ago. Small business owners in any industry are encouraged to take advantage of the expertise afforded by these public programs to assist in managing these complexities and the rough waters of an economy that seems to be certain of only one thing, uncertainty.
Please see yc.edu/SBDC or call 776-2008 to sign up for services.
**The Yavapai College Regional Economic Development Center provides analysis and services that facilitate economic development throughout Yavapai County and build wealth in our local communities.