Idaho business center boosts its clients in rough economy

A recent impact study shows that the Idaho Small Business Development Center is making a difference — even in tough economic times — for those it serves.

ISBDC clients, which amount to more than 3,600 businesses and individuals across the state, consistently outperformed the average Idaho small business, according to the study.

Over the past two years as the economy has declined, the gap has widened between ISBDC assisted businesses and the average business.

“While you can sometimes get away with weak business practices in a strong economy, the holes start to show when the economy turns down,” says Jim Hogge, state director of the Idaho Small Business Development Center, which is administered by Boise State’s College of Business and Economics. “We’re helping businesses shore up their business practices and survive, even thrive, in this downturn.”

The study indicates that in difficult economic times, solid business practices and smart decisions are key to survival and success.

Single-year sales growth for the ISBDC clients exceeded 25 percent in 2002, while the average Idaho small business lagged near 5 percent.

In addition, employment growth for ISBDC companies was four times that of the average small business.

Small businesses are vital to the Idaho economy. Ninety-seven percent of Idaho firms are considered small businesses, those with 500 or fewer employees. Of these, 87 percent are firms of less than 20 employees. With large companies taking big hits, these small companies are providing a stable foundation for Idaho’s economy.

The Idaho SBDC has six offices at colleges and universities across the state. The ISBDC recently revamped its Web site to better serve clients. The Web site offers round the clock help for businesses by sorting the glut of business advice that is available. Visit www.idahosbdc.org.

– Sherry Squires

University News

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