By Gwen Green (gagreen@ualr.edu)
March 9, 2009
LITTLE ROCK, Ark. - Arkansas businesses assisted by the Arkansas Small Business and Technology Development Center created more jobs and increased sales more than the average business, an independent study shows.
Dr. James J. Chrisman of Mississippi State University, an independent consultant, conducted the annual economic impact study of ASBTDC clients. The study compared clients' employment and sales data from the year they received assistance to the following year with the average changes for all Arkansas businesses during the same time period. All firms that received five hours or more of ASBTDC consulting assistance in a given year are surveyed to determine the impact of the assistance on their business.
While the number of people employed by all Arkansas businesses grew only 0.5 percent, average job growth for ASBTDC client businesses was 19.5 percent, Chrisman concluded.
In a year's time, ASBTDC clients created 3.4 new jobs per day, or 1,257 jobs. They also increased sales by $168,761,857. Clients enjoyed an average increase in sales of $83,857, or 11.6 percent higher than the average Arkansas business, and generated more than $12 million in tax revenues ($8.5 million in state taxes, $3.6 million in federal).
The findings appear in the ASBTDC's 2008 Annual Report released March 2.
"The ASBTDC has had an independent study conducted of its economic impact every year for the past 13 years," said Janet Roderick, ASBTDC state director. "Results of these studies consistently illustrate the tremendous impact the ASBTDC has on the businesses it works with and on the state's economy. The services of the ASBTDC are critical to local economies and the state. We are the only entity with a statewide network of offices focusing on entrepreneurial and small business development."
The ASBTDC assists entrepreneurs at every stage of business development and growth. Core services include consulting, training and research. In 2008, consulting staff logged 6,898 case hours and worked with 1,089 clients. ASBTDC held 399 live seminars attended by 4,981 people and responded to 1,765 research requests.
Established in 1980, the ASBTDC is a partnership of the U.S. Small Business Administration and the University of Arkansas at Little Rock's College of Business. Through a statewide network of seven offices, ASBTDC assists start-ups, existing businesses, expanding businesses and technology businesses.
In addition to the ASBTDC lead office at UALR, regional offices are located at Arkansas State University in Jonesboro; Henderson State University in Arkadelphia; Southern Arkansas University in Magnolia; the University of Arkansas in Fayetteville; University of Arkansas - Fort Smith; and the University of Arkansas at Monticello College of Technology - McGehee.
For more information on the ASBTDC or its services, call 501-683-7700 (inside Pulaski County) or 1-800-862-2040.
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