NY Small Business Development Centers Provide $300 Million Impact in State

ALBANY – State University of New York Chancellor John King Jr. announced annual results from the New York Small Business Development Center (New York SBDC), which provided direct support to over 23,000 small business clients, surpassing $300 million in financial impact to counties across New York State as the SBDC observed its 40^th anniversary. The center empowers entrepreneurs through one-on-one individualized advisement grants, specialized education, and business research that fuels economic growth.

New York SBDC is administered by SUNY and primarily funded by the U.S. Small Business Administration. The program is committed to fostering a diverse and inclusive business landscape across the state. This past year, more than half of SBDC clients (53%) were women-owned small businesses, 41% were minority-owned, 15% were from rural counties, and clients were provided with more than 84,000 hours of free counseling.

“Economic development and upward mobility are fundamental to who we are at SUNY, and our Small Business Development Centers put these principles into action,” said SUNY Chancellor King. “From Penguin Rep Theatre in Rockland to the DEK Superstars athletic facility in Farmingdale, our SBDCs impact thousands of New Yorkers every year. Together, we will set new standards of how dynamic networks of learning and entrepreneurship can powerfully support and enhance one another, while championing a future where every entrepreneur has the tools to realize their dreams.”

State Director of the New York Small Business Development Centers Sonya Smith added, “In 2023, we continued to reset, modernize, and build on the many successes of our almost 40-year-old state network. We are evolving and bringing big systemic change, building consistency across the state, and setting a solid foundation for growth and what we hope is long-lasting, impactful change.”

Curtis Groff, SBDC Client and Owner of Break-thru Boxing and Fitness said, “Working with the SBDC has been an integral part of my business life. When I started, I didn’t really have an idea of how to actually run a business, but with their help, programing, and recommendations, I now have the confidence to run my business effectively and am currently looking to open a second location.”

Melissa Baideme, Owner of C.K. Natural Fruit Juice and SBDC Client also said, “One of the greatest benefits of working with the Small Business Development Center is the tools they place in front of you, helping you open your doors to a world of success. I have been more than grateful for working with my SBDC coach and for all the motivation he has given me. At times when I feel a little stuck, he distracts those thoughts and keeps me going in one direction, which is the right direction.”

Throughout its 40 years of service, Small Business Development Centers have assisted more than 580,000 small business clients, created and saved more than a quarter-million jobs, and injected over $8.5 billion into New York State’s economy.