What does a small business development center do?
A Small Business Development Center (SBDC) gives educational services for small business owners and aspiring entrepreneurs.
What is a small business development center?
Small Business Development Centers (SBDCs) are partnerships primarily between the government and colleges/universities administered by the Small Business Administration and aims at giving educational services for small business owners and aspiring entrepreneurs.
How are Small Business Development Centers different from Business Incubators?
Been studying up on the two and find that many authors seem to be using the terms interchangeably.
Small Business Development Centers (SBDCs) are usually affiliated with the local community college, and offer classes in starting and running your business. One VERY good class some of them offer is the NxLevel Entrepreneurial Training, a 12 session course that walks you through the ins and outs of starting or growing your business, and as part of that you will write a business plan. At the end of the class your plan will be reviewed by a lending professional, and will be critiqued, telling you the strong points of your plan AND the weak points. SBDCs are tax supported and accept all applicants.
Business incubators are programs designed to accelerate the successful development of entrepreneurial companies through an array of business support resources and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts. Incubators vary in the way they deliver their services, in their organizational structure, and in the types of clients they serve. Successful completion of a business incubation program increases the likelihood that a start-up company will stay in business for the long term.
Incubators also differ from the U.S. Small Business Administration’s Small Business Development Centers (and similar business support programs) in that they serve only selected clients.
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