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February 13, 2018

Maine SBDC provides 2017 economic impact scorecard

Courtesy / Maine Small Business Development Centers
Courtesy / Maine Small Business Development Centers
This chart from the Maine Small Business Development Centers' 2017 annual report shows the jobs saved and created by the program over the past five years.

The Maine Small Business Development Centers, a statewide program that helps entrepreneurs start and grow their businesses, reported today that it helped save or create 661 jobs in 2017.

A program of the U.S. Small Business Administration, the Maine Department of Economic and Community Development and the University of Southern Maine, Maine SBDC's 2017 annual report also provided the following metrics of its economic impact last year:

  • Its certified business advisors across Maine provided no-cost business advising to 1,400 entrepreneurs
  • Maine SBDC clients secured $44 million in capital.
  • 98 new businesses created
  • Incremental tax revenues of $4.16 for every $1 invested in Maine SBDC.

Return on investment for the Maine SBDC is evaluated annually through an independent study of the program conducted by James J. Chrisman, a professor of management at the Mississippi State University. His findings are based on information provided by a sampling of clients meeting with a Maine SBDC business advisor for at least five hours.

Over its 40-year history, the program has worked with an estimated 62,000 clients to help create and save over 16,000 jobs, start nearly 2,500 new businesses and access nearly $705 million in capital formation to start and grow businesses.

Maine SBDC's $1.99 million budget in 2017 included funding from these sources:

  • Maine Department of Economic and Community Development: $778,215
  • U.S. SBA: $702,944
  • Host organizations: $237,742
  • University of Southern Maine: $120,991
  • Federal contracts: $59,245
  • Community Development Block Grant: $50,000
  • State contracts: $35,000
  • Program income: $8,118.

"As we reflect on the last 40 years, we're encouraged by the program's ability to have a real impact on the economic success of the state of Maine year after year," said Maine SBDC State Director Mark Delisle. "Activities that yield positive returns over an extended period, such as those carried out by the Maine SBDC, stand as a solid investment."

The Maine SBDC provides no-cost, comprehensive business management assistance to small businesses throughout Maine through its network of certified business advisors.

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Maine SBDC 2017 annual report

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