LEXINGTON, Ky., (Aug. 22, 2017) – An independent study conducted by James J. Chrisman, professor of management at Mississippi State University, finds once again that the Kentucky Small Business Development Center continues to make a significant positive impact on the state’s economy.
Released this summer, the study found that for every dollar invested in KSBDC $3.03 is returned to the economy, and for every dollar invested directly into counseling services the return is $10.13. Kentucky Small Business Development Center’s dedicated efforts to support small business growth throughout the state has earned funders an additional $0.66 return on invest from previous years.
During the 2015-2016 fiscal year, KSBDC clients:
- Created 1,927 new jobs;
- Generated $88.6 million in incremental sales;
- Yielded $10 million in tax revenue ($3.5 million from established business clients and $6.5 million from pre-venture, new businesses);
- Obtained $82.8 million in financing (compared to $58.9 million in previous years).
“It is the consistent commitment to small businesses shown by KSBDC’s 12 offices that leads to results like these. We are very proud of this independent, third-party research, and look forward to another year of positively impacting our local economy,” said Becky Naugle, KSBDC state director.
The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 12 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is an accredited partner program with the U.S. Small Business Administration. For more information on KSBDC visit http://www.ksbdc.org.
UK is the University for Kentucky. At UK, we are educating more students, treating more patients with complex illnesses and conducting more research and service than at any time in our 150-year history. To read more about the UK story and how you can support continued investment in your university and the Commonwealth, go to: uky.edu/uk4ky. #uk4ky #seeblue