Small Business Development Center (SBDC) is a very helpful resource if you want to venture in any type of business, including real estate investing. SBDC was formed in 1953 by the United States Small Business Administration (a government agency) primarily to help small businesses and entrepreneurs realize their own business ownership and take control.
It is common to find it challenging to run a business at its startup stage. Sometimes you have a great idea you wish to pursue, but you have little funds to get things rolling. In that kind of a scenario, a Small Business Development Center will be your go to destination for assistance.
At other times, funding may be is not the problem. but you don’t know how to organize those splendid ideas into profitable gains. At such a point a Small Business Development Center will also come in handy.
You can learn the procedures, rules, regulations and strategies that govern the growth of a small enterprise from these SBDCs. They also have a lot of information and resources to help you establish or grow your business, with free classes, one on one consultations and more. The tips you gather from the SBDCs can then guide the process of stimulating your business ideas into actionable plans.
Small Business Development Center:
In the United States they are found in every state and all major cities, so all you have to do is check locally through the Small Business Administration site. As previously stated, each small business development center has consultants who offer counseling services to persons who are just venturing into businesses or already established but wish to enlarge their enterprises. The counseling services are provided free of charge.
Many investors in the US real estate business owe their success to Small Business Development Centers, especially when it comes to the actual business entity organization and structure (not the mechanics of the actual investing strategies – you would have to educate yourself in that aspect or hire a mentor.) They can help you set the vision of owning your business or have your existing businesses remain competitive in today’s complex and dynamic global market.
The centers are hosted by top universities and economic development agencies of the different states.
Here are a few specific benefits you may realize from the Small Business Development Centers:
- Investment advice. Advisors at the SMDCs will provide you with a variety of free business consulting as well as low-cost training services that include but not limited to business plan development, computer and software skills, and more.
- Dedicated business assistance, like a concierge service. You can contact the Small Business Development Center any time you run into problems or encounter questions that you are not comfortable with. They will always be willing to point you to the right direction. Through these centers, you can get links to experts in your industry or organizations that you can rely on for your benchmarking.
- Connections. You will also be able to build useful networks from the SBDCs. Highly qualified professionals, business organizations within your industry and other related businesses are all accessible through the centers.
For instance, they can help you identify a few investors who have already made it in real estate and make them part of your network. They are also likely to have a lot of information regarding how to keep the business running, how to develop customer loyalty, how to make customers refer others to you, just to mention a few.
With dozens of host networks branching out with hundreds of service delivery points throughout the U.S., the District of Columbia, Guam, Puerto Rico, American Samoa and the U.S. Virgin Islands, SBDC assistance is available virtually anywhere.