Challenges Become Opportunities
It has certainly been a whirlwind of a year for small businesses. The Pandemic has brought a multitude of issues for businesses, many of which have never been dealt with before. Where does one even begin from a small business perspective? Loss of income/cash flow: incremental expenses due to having to meet CDC and OSHA standards: layoffs, a decline in enthusiasm, etc. We here at the Duquesne SBDC have assisted and consulted with over 1,000 small businesses since the outbreak in March. For many of these past months, it has been a full-court press effort by the Business Consulting Staff to ensure every small business that needed assistance received service.
Eighteen Million Funds Received
Of particular note was the desperate need by small businesses to obtain assistance and guidance on how best to apply for and receive the variety of loans offered, including the EDIL. PPP and various other loans/grant programs via the area CDIF’s. Efforts lead to SBDC clients receiving over eighteen million funds. Much needed when one considers the shortfalls in cash flow. The SBDC also worked diligently with clients to reanalyze cash flow and revise business plan projections. Also, the consulting staff assisted many clients with pivoting to e-commerce modalities.
Our mission here at the SBDC is simple: Informed business owners achieve success! Our job pain and simple is to assist the business in decision-making so they can be successful! Having owned my own business, I have often and continue to say: “We here at the SBDC are a diamond in the rough! Where else can you receive high-level business consultation from consultants who are either business owners and/or worked in the C Suite!”. Had I known about the SBDC when I started my business I would have taken months off of my due diligence. Existing businesses have a great opportunity to work with the SBDC. Consultation is offered in expansion, diversification, product realignment, etc. This past year has also experienced an increase in business buy/sell arrangements.
No question it has been one year of turmoil, uncertainties, and challenges. Who knows what the new year will bring but rest assured the SBDC is here and ready to assist you. On behalf of the entire staff, I wish you a very blessed Holiday season and all the best the New Year has to offer.