The 15th of March has been designated as “Small Business Development Center Day” by Governor Tim Walz 2023

The 15th of March has been designated as Small Business Development Center (SBDC) Day in Minnesota by Governor Tim Walz, and DEED is thrilled to celebrate the day among more than 1,000 SBDCs around the country. This March 15 observance highlights the significance of small business contributions and success in our communities.

Around the state, DEED’s Small Business Development Centers (SBDC) provide business owners with professional advice and assistance, regardless of whether their company is just a concept or is well established and expanding. To assist customers in overcoming the difficulties of running a small business, counselors offer free, private counseling. They are seasoned experts in the private sector and may be found in the nine regional SBDCs in Minnesota that serve the whole state.

In 2022, Minnesota SBDC consultants offered over 5,200 firms 32 000 hours of professional counseling services. These clients contributed to the growth of the state’s economy by:

• Establishing 152 new companies

• Obtaining $100.3 million in additional investment money

• Generating or preserving in excess of 4,500 Employment

• Revenue growth of more than $232 million

Kevin McKinnon, the interim commissioner of the Department of Employment and Economic Development, stated, “Small companies are the cornerstone of Minnesota’s economy.” The Small Business Development Centers, the Office of Small Business Partnerships, the Small Business Help Office, and Launch Minnesota have joined forces to better serve Minnesota’s entrepreneurs and small companies.

Tomorrow, regional offices around the state will celebrate; here are a few examples.

• From 2:00 to 4:00 p.m., the Southeast region will conduct an open house in Rochester at their office located at 221 First Avenue SW, 6th Floor.

• Beginning in Moorhead, the West Central office will embark on a road trip and arrange meet-and-greets in cities around the area to meet with small business owners.

• From 10 am to 12 pm, North Central University will have an open house with refreshments, door prizes, and tours of the campus.

Due to the significance of small businesses to our communities and economy, the Governor has proposed new funding not only for Small Business Development Centers, but also for the Small Business Navigation Program, the Small Business Partnerships Program, an expansion of Launch Minnesota, and additional funding for an Expanding Opportunity Fund, which would greatly accelerate the flow of capital into small businesses through partnerships with nonprofit lenders. Read more about the budget items for DEED in the One Minnesota Budget.

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