Orange County NC Website
Browse       Search
ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 21, 2008 <br />Action Agenda <br />Item No. ~- - .F <br />SUBJECT: Small Business and Technology Development Center (SBTDC) Contract <br />Renewal for FY 2008-09 <br />DEPARTMENT: Economic Development <br />PUBLIC HEARING: (Y/N) <br />No <br />ATTACHMENT(S): <br />A. SBTDC Contract Renewal <br />INFORMATION CONTACT: <br />Brad Broadwell, 245- 2326 <br />Yvonne Scarlett, 245-2325 <br />PURPOSE: To renew a contract with the Small Business and Technology Development <br />Center (SBTDC) to continue support of small business development services for Orange <br />County business and new & existing entrepreneurs as stated in the Economic Development <br />Strategic Plan adopted May 14, 1996, and reaffirmed by the Economic Development <br />Commission in its new strategic plan, Investing in Innovation: 2005-2010. <br />BACKGROUND: A primary goal of the Economic Development Commission since its <br />inception has been providing assistance to small businesses to enable them to grow and <br />prosper in Orange County. The Small Business and Technology Development Center <br />(SBTDC) provides consulting services to new entrepreneurs and local small businesses. The <br />Small Business & Technology Development Center has provided these services to referrals <br />under this contract with Orange County since 1990. The contract provides for $10,000 to be <br />paid on or about November 15, 2008. <br />From July 2007 -June 2008 (YTD 2008), the SBTDC on behalf of Orange County provided a <br />tangible service to prospective entrepreneurs. After consulting with the EDC office, new and <br />existing businesses that need additional counseling regarding starting a business, enhancing <br />business practices or finding capital in Orange County were referred to the SBTDC for that <br />additional training. This fiscal year they have serviced 30 Orange County businesses and <br />helped them secure $35.3 million in capital, including Phase Bioscience/Catalysta, ProPhysics <br />Innovations & CSBC Business Services, and also counseled 230 Orange County <br />entrepreneurs for a total of 1,729 hours of consulting time. Nearly 30 percent of clients were <br />non-white and 39 percent were women-owned businesses. Businesses were evenly split <br />between existing businesses and those just forming their enterprises. Seventeen were home- <br />based businesses. <br />