Small Business Development Centers Day on the third Wednesday of March is a time to recognize the risk, efforts, and passion put forth by small business operators. This year, it falls on March 20. More than 60 years ago the Federal Government realized the importance that the small business community had on the overall economic development of the nation. The creation of the Small Business Administration (S.B.A.) helped thousands of small businesses to launch, grow, exit, and implement technology commercialization. Since they don’t have the luxury and discretionary revenue to seek conventional business consultation, small businesses have used the services of the S.B.A. provided by the Small Business Development Centers (S.B.D.C.) to start, grow and thrive.
History of Small Business Development Centers Day
In 1980, President Carter signed into law the legislation enacting the Small Business Development Centers network. The pilot program combined the resources of the government, higher education, and the private sector to support the development of small businesses.
S.B.D.C. Day was first observed in 2017 and The House Committee on Small Business officially recognized the day in 2018. S.B.D.C. Day is a national proclamation of the success of America’s Small Business Development Centers (S.B.D.Cs) in the thriving of the nation’s small businesses.
The U.S. Small Business Administration defines “small businesses” as firms with fewer than 500 employees. There are more than 900 S.B.D.Cs across the United States, dedicated to providing current and prospective entrepreneurs with the resources they need to start, grow, expand, or recover. S.B.D.Cs provide services such as counseling in financing and marketing, guidance on international trade, advice on regulatory compliance, and many more.
There’s at least one Small Business Development Center in every state, the District of Columbia, and its territories. They provide a network of locations throughout the country that assist in a broad range of expertise.
S.B.D.Cs exist as a partnership between the U.S. Small Business Administration (S.B.A.) and a local college or university. These centers aim to help foster small businesses and jobs by providing educational resources to business owners and those looking to start businesses. S.B.D.Cs are key in helping existing businesses remain competitive in a complex, ever-changing global marketplace.
S.B.D.Cs aren’t limited to emerging small businesses. If a small business wants to expand, the S.B.D.C. offers assistance as well.
Small Business Development Centers Day timeline
The Association of S.B.D.C. is formed.
America's S.B.D.C. helps start 16,499 businesses.
America's S.B.D.C. provides $5.6 billion in financing and creates over 99,124 jobs nationwide.
With the assistance of the S.B.D.C., a new business is opened around the country every 30 minutes and a new job is created every 5.5 minutes.
Small Business Development Centers Day FAQs
What is the most common type of small business?
What are common problems for small businesses?
Lack of funds and time challenges in finding good employees, inadequate management team, and a faulty infrastructure or business model are a few problems that small businesses face.
How many small U.S. businesses are franchises?
About 5% of small businesses in America are franchises.
Small Business Development Centers Day Activities
Help the S.B.D.C.
Volunteer your skills and expertise to the S.B.D.C. This will help an entrepreneur get an easier start in the business world.
Learn what else the S.B.D.C. has to offer. This information could help you or a friend in the business journey.
Attend an S.B.D.C. event
Join an event and learn about all the benefits that S.B.D.C. offers to entrepreneurs. You can find out all the info you need by visiting the official website of the association.
5 Amazing Facts About Small Businesses
Lots of small businesses
According to the Small Business Administration's (S.B.A.) Office of Advocacy, there are 32.5 million small businesses in the United States.
Job creation platforms
America's small businesses employ roughly half of America's private-sector workforce.
Fastest growing sectors
In the world of small businesses, the fastest-growing sectors include auto repair shops, beauty salons, and dry cleaners.
The leading state
California is the state with the highest number of small businesses.
70% of small businesses are owned and operated by a single person.
Why We Love Small Business Development Centers Day
It supports small businesses
Owners of small businesses need lots of support as they navigate the murky entrepreneurship world. On this day, they get to know about the assistance that Small Business Development Centers provide.
It’s good for the economy
Small businesses go a long way in supporting the economy. This day celebrates their contribution to that fact.
It’s good for families
When a small business prospers, it benefits more than the economy. The business owner and their family thrive as they're well provided for.
Small Business Development Centers Day dates