Florida SBDC Commends Governor Scott and Florida Legislature for Supporting Small Businesses in a New State Law

Media Release Release Date: June 14, 2013 Contact: Cheryl.Kirby@FloridaSBDC.org FOR IMMEDIATE RELEASE Florida SBDC Commends Governor Scott and Florida Legislature for Supporting Small Businesses in a New State Law FSBDCN State Office: Governor Rick Scott signed HB 7007 into law that validates the administration’s and legislature’s priority to support Florida’s primary job producers – small business. The new law aligns and enhances the Florida SBDC Network’s position and work in collaboration with state economic development and higher education to better serve the needs of Florida’s small businesses. The law establishes a performance-based investment to expand the network’s business development services and support small business growth. “This is great news for Florida’s small businesses,” said Michael Myhre, Florida SBDC Interim State Director. “Governor Scott and the Florida Legislature should be applauded for understanding and supporting programs and incentives proven to help create the jobs Florida families need and be recognized as a state that supports small business.” State designated as the principal provider of small business assistance, the Florida SBDC Network serves the complex and diverse needs of small businesses throughout every stage of growth through no-cost professional business consulting, value-added training, and access to business data and information. Florida SBDC consulting expertise focuses on areas vital to accelerating the growth of businesses, including strategic market research; business and strategic plan development; market and revenue growth strategy development and implementation; capital access and loan packaging; financial analysis and assessment; financial literacy; feasibility analysis and start-up assistance; as well as business continuity and disaster planning. Andre Uribe of Power Grid Engineering, LLC, an electrical engineering firm, is an outstanding representation of what the FSBDCN does for Florida’s entrepreneurs. Uribe and his business partners attended several seminars to prepare for their business venture and, over the years, continued to take advantage of extensive consulting services through the FSBDC at UCF to accelerate the growth of their business. Power Grid now has an impressive clientele, which includes several Fortune 250 investor-owned utility companies in the United States. The company continues to grow with 2012 sales of $11.6 million, 78 employees, four locations in two states, and 2013 sales are estimated to exceed $15 million. Uribe's accomplishments were recently recognized by the U.S. SBA with the presentation of the 2013 North Florida District Small Business Person of the Year Award. “We are fortunate to have the support of high level SBDC personnel such as Pauline Davis to help us when we need assistance running our company,” said Uribe. Myhre said, “The Florida SBDCs are proud to play a key role in contributing to the state’s priorities, in particular, job creation and economic growth.” A recent independent study showed that the Florida SBDC Network’s consulting services helped support the creation and retention of 43,856 direct and indirect jobs across the state at a significantly low cost of $119 per job to the Florida taxpayer. The study found that for every $1 invested in the Florida SBDC Network, $41.07 was returned to the state in tax revenue. “We look forward to expanding our efforts with state economic development and our vested higher education partners to expand on our record of helping businesses grow and succeed,” said Myhre. About the FSBDC Network For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. A statewide service network of 39 centers with 65 outreach locations, the FSBDC Network is funded in part through a cooperative agreement with the U.S. Small Business Administration, hosted by the University of West Florida and accredited through the national Association of SBDCs. To learn more about the FSBDC Network or to find a SBDC near you, visit www.FloridaSBDC.org or call 1.866.737.7232. In 2011, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting, training and information, resulting in 43,856 jobs created, retained and saved; $6 billion in sales growth; $98.1 million in capital accessed; $426.2 million in government contract awards; and 1,067 new businesses started. State Office l UWF Office of Economic Development & Engagement 11000 University Pkwy, Bldg 38 l Pensacola, FL 32514 866.737.7232 or 850.473.7800 l www.FloridaSBDC.org