Kentucky Small Business Development Center
Encyclopedia
The Kentucky Small Business Development Center (KSBDC) is a partnership between Kentucky’s institutions of higher education
, economic development
organizations and the U.S. Small Business Administration
. It opened in 1982 and operates 20 centers and satellite offices are located throughout the Commonwealth of Kentucky. The KSBDC is headquartered at the University of Kentucky in Lexington, Kentucky
. The KSBDC is an accredited affiliate of the national network of SBDCs, the Association of Small Business
Development Center.
by building strategic alliances and by providing excellent management assistance, educational programs, and helpful resources for Kentucky small business owners and entrepreneurs."
One-on-one management consultations are free. Topics covered in management consultations include:
Training programs and workshops offered by the SBDC are low cost. Over 25 self-paced workshops are available free of charge through www.ksbdc.org. Topics covered in classroom workshops include:
KSBDC also has access to resources such as market research
, industry trends, sample business plans and a variety of publications. There is no cost in using these materials.
and Samoa. There are a total of 63 SBDC programs with over 1,100 service centers.
Higher education
Higher, post-secondary, tertiary, or third level education refers to the stage of learning that occurs at universities, academies, colleges, seminaries, and institutes of technology...
, economic development
Economic development
Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area...
organizations and the U.S. Small Business Administration
Small Business Administration
The Small Business Administration is a United States government agency that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses...
. It opened in 1982 and operates 20 centers and satellite offices are located throughout the Commonwealth of Kentucky. The KSBDC is headquartered at the University of Kentucky in Lexington, Kentucky
Lexington, Kentucky
Lexington is the second-largest city in Kentucky and the 63rd largest in the US. Known as the "Thoroughbred City" and the "Horse Capital of the World", it is located in the heart of Kentucky's Bluegrass region...
. The KSBDC is an accredited affiliate of the national network of SBDCs, the Association of Small Business
Small business
A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships...
Development Center.
Mission
"The Kentucky Small Business Development Center is dedicated to strengthening Kentucky businesses and creating economic growthEconomic growth
In economics, economic growth is defined as the increasing capacity of the economy to satisfy the wants of goods and services of the members of society. Economic growth is enabled by increases in productivity, which lowers the inputs for a given amount of output. Lowered costs increase demand...
by building strategic alliances and by providing excellent management assistance, educational programs, and helpful resources for Kentucky small business owners and entrepreneurs."
Small Business Services
KSBDC offers management consultations, training and a variety of other resources to new ventures and existing businesses.One-on-one management consultations are free. Topics covered in management consultations include:
- Developing a Comprehensive Business Plan
- Analyzing Cash FlowCash flowCash flow is the movement of money into or out of a business, project, or financial product. It is usually measured during a specified, finite period of time. Measurement of cash flow can be used for calculating other parameters that give information on a company's value and situation.Cash flow...
and Financial Projections - Financing Options
- Creating a targeted marketing planMarketing planA marketing plan may be part of an overall business plan.Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use....
Training programs and workshops offered by the SBDC are low cost. Over 25 self-paced workshops are available free of charge through www.ksbdc.org. Topics covered in classroom workshops include:
- Fundamentals of Starting a Business
- Developing a Business Plan
- Introduction to Quickbooks
- Basic Record keeping and Accounting
- Human Resources
KSBDC also has access to resources such as market research
Market research
Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy...
, industry trends, sample business plans and a variety of publications. There is no cost in using these materials.
History
SBDC programs were instituted in the United States in 1980 and Kentucky’s first office opened in 1982. Now, every state has an SBDC program (Texas has four and California has six) along with Guam, District of Columbia, U.S. Virgin IslandsUnited States Virgin Islands
The Virgin Islands of the United States are a group of islands in the Caribbean that are an insular area of the United States. The islands are geographically part of the Virgin Islands archipelago and are located in the Leeward Islands of the Lesser Antilles.The U.S...
and Samoa. There are a total of 63 SBDC programs with over 1,100 service centers.