As published in the January 1, 2017 Toledo Business Journal
The Toledo Business Journal interviewed Bill Wersell, director of the Toledo Small Business Development Center (SBDC), about plans for 2017.
Toledo Business Journal: As you begin your 17th year with the SBDC, can you reflect on the impact your organization has had on business development in the area?
Bill Wersell: The program has provided counseling to help start over 400 local businesses, assist businesses access to capital of over $100 million, and help create and/or retain over 6,000 jobs. The staff of five provides an average of 2000 hours a year of professional business consulting focused on financial understanding and income development.
TBJ: Can you share the background, history, and geographical coverage of the Toledo SBDC and the role that it plays in the Toledo Regional Chamber of Commerce?
BW: The Chamber has supported the program since it began in the 1980s. The service area is focused on Lucas and Wood counties. The original focus was helping business owners apply for funding for start-up and expansion opportunities. The role changed significantly in 2008, when the recession hit our area. The program quickly switched to turnaround work because so many small businesses were struggling with lower sales. The team stretched our resources and worked with the owners to initially cut costs, but quickly look for new markets for expansion
TBJ: The Toledo SBDC was recognized as the Top Jobs Creator in the Ohio SBDC Statewide Network for fiscal 2016. Can you discuss the selection criteria involving this recent recognition?
BW: Every business that received consulting is asked the number of people employed; at the end of the year, the same business are asked to report job growth. The number reported (467) by our employers was the strongest number in the state attributed to the 36 SBDC centers.
TBJ: Can you explain the counseling support that the SBDC provides to clients and who may obtain this assistance?
BW: Any existing small business (Chamber membership is not required) in the area can connect with the services at no cost. Existing businesses are asked to provide current and three year historic financial statements. These documents are reviewed by the SBDC staff only. The services are very confidential. An analysis is done comparing this information to like-sized businesses through the NAICS Code. This analysis helps the SBDC Consultant work with the owner on determining profitability. We prepare financial projections that are necessary for bank financing.
TBJ: Can you discuss assistance that is available to businesses interested in exporting to other countries?
BW: The Export Assistance Program works closely with both State and federal partners to support export of goods and services. These services include Export Internship opportunities, access to grant funds for marketing expenses or for trade missions, research projects to develop understanding of the potential market in a particular part of the world that might purchase these goods and services, and a variety of seminars dealing with different aspects of learning about international trade. Last year, two service-related businesses from our area attended the largest industrial trade show in the world in Hanover, Germany escorted by Colleen Kardasz the local export assistant analyst housed at the Toledo Chamber.
TBJ: Can you share specific resources and assistance available to new start-up businesses?
BW: Start-ups are welcome at the SBDC program. The focus is on how to effectively start the business as inexpensively as possible. Most of the people we meet have a good idea for a business, but have not followed through on writing a business plan and thus have not answered all the questions they need to answer to be successful. We zero in on potential cash flow. Helping the client determine what it will really cost to open their doors, or website; what it will cost to operate the business, including at least an hourly expectation of a wage for the new owner. But, most importantly, how many customers have to buy the goods or service every day to make the business a success. Our main goal is for the owner to make double the income that he/she would make if he/she worked in the business for someone else.
TBJ: Can you provide information about the Toledo Area Small Business Association (TASBA)?
BW: TASBA is the Chamber’s small business division, working to enhance and promote a favorable business climate for small businesses in northwest Ohio. Small businesses account for 80% of the over 1,800 members of the Chamber. A board of directors, which represents a cross-section of the Chamber’s small business members, sets TASBA’s activities and policies. One of TASBA’s goals is to act as the advocate for small business interests regarding public policy issues. For this reason, TASBA may take a separate position on legislative issues from the Chamber to ensure that the small-business perspective is represented. Opportunities to connect with other small business owners, as well as access to resources for concerns in HR, finance, and accounting, are additional benefits.
TBJ: Are there any other issues that you would like to address?
BW: The Toledo Regional Chamber and the Small Business Development Center it hosts are by far the best resources for the total business community in the Toledo region. The Toledo Chamber is the only metro Chamber in Ohio to support this program. This gives the consulting team access to the best resources in the community. We have over 1,800 experts to help us answer questions for our clients and the business community as a whole. The SBDC staff participates in many different economic development opportunities throughout the region and the state to keep on top of the latest information, and the best resources, to help our clients grow. We take great pride in helping businesses grow, because small business growth leads to more jobs and prosperity throughout the region.