| BUSINESS AND MANUFACTURING EXTENSION | |
|
Enhances the success of businesses through management education and counseling |
|
|
• Message • Broadcasting and Media Innovations • Business and Manufacturing Extension • Cooperative Extension • Outreach and E-Learning Extension • FY 2003 expenditures • FY 2003 contacts and enrollments • Partners |
The Business and Manufacturing division operates the Small Business Development
Center (SBDC), a statewide network of 13 UW institutions, and coordinates
industrial outreach efforts systemwide. The SBDC works to champion entrepreneurial
growth in Wisconsin by educating business owners, supporting their entrepreneurial
needs, and increasing regional capacity to support small businesses.
To further enhance access to SBDC resources, the Business AnswerLine was launched in early 2003, offering convenient, timely advice to clients throughout the state. Through the AnswerLine, business counselors are already providing on-demand information to approximately 5,000 clients per year. This rate is expected to double in the next year. Participation in the Entrepreneurial Training Program continued to be strong, with more than 400 students taking part. Offered in conjunction with the Wisconsin Department of Commerce, the program enables entrepreneurs to offset some of the tuition costs associated with an SBDC course on how to write a business plan, a critical step for any successful business start-up. The SBDC also worked to improve the availability of venture capital and for Wisconsin businesses through “angel investor” networks. The SBDC oversaw a task force in Eau Claire that examined the feasibility of angel investment in west-central Wisconsin. This resulted in creation of the Chippewa Valley Angel Investors Network, LLC, in April 2003. Similar work at UW-River Falls resulted in the St. Croix Valley Angel Network. The SBDC also remains a point of contact for a La Crosse angel investment group, helping to screen requests and coordinate communication. The La Crosse group made equity investments totaling $500,000 in four Wisconsin and Minnesota companies last year.
These cross-institutional actions grew out of an SBDC-initiated joint agency strategic planning retreat hosted and funded by the Edward Lowe Foundation, which helps entrepreneurs by providing services to them and supporting organizations. Another SBDC priority for 2004 is to develop more self-sufficient business people by helping people to help themselves. The Lowe Foundation, which has selected Wisconsin as a pilot state for building entrepreneurial networks, will assist the SBDC in launching an electronic newsletter and in forming a peer networking program among established entrepreneurs. annual report home |
