Agenda - 04-13-2004-5i - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: April 13, 2004 Action Agenda o Item No. !'j-~ 1 SUBJECT: 2003-2004 Small Business and Technology Development Center (SBTDC) Contract Renewal DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: A, SBTDC Contract Dianne Reid, ext 2326 B, Orange County Success Stories TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 336-227-2031 PURPOSE: To consider renewal of a contract to continue support of small business development services for Orange County citizens, as stated in the Economic Development Strategic Plan adopted May 14, 1996, and reaffirmed by the Economic Development Commission in its strategic planning session in August 2000, BACKGROUND: A primary goal of the Economic Development Commission since its inception has been providing assistance to small businesses to enable them to grow and prosper in Orange County, The Small Business and Technology Development Center (SBTDC) provides significant services to local businesses and has operated under contract with Orange County since 1990, The contract provides for $10,000 to be paid in two installments of $5,000 each. The first is to be paid on or about April 30, 2004, and the second on or about June 15, 2004,. During calendar year 2003, the SBTDC staff (which included one bi-lingual counselor) served 174 Orange County clients for a total of 2,542,25 hours of counseling time: • 111 were considered Emerging Businesses (pre-venture clients - in the process of starting their business -and start-up companies). These businesses received 929..75 hours of counseling and represented 36,5% of all cases in the region. • 45 were Traditional Businesses (mare than 3 years in business and less than $1 million in revenues). These firms received 372.75 hours of counseling and represented 14,75% of cases in the region. • 18 were Small-Medium Size Enterprises (more than 3 years in business and more than $1 million in annual revenue). These firms received 1003.25 hours of counseling and represented 32.25% of all cases in the region. The 2003 Orange County figures represent a 5% percent decrease from the previous year in the nramber of Orange County clients - 174 versus 184 - but a significant increase (68%) in counseling time - 2,542.25 hours versus 1,510,5 hours.