Florida SBDC at UCF Delivers Major Economic Impact
FSBDC Assists Central Florida Business Create Jobs, Increase Profits and Access Captial
November 20, 2014
FOR IMMEDIATE RELEASE
Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu
FOR IMMEDIATE RELEASE
ORLANDO, FL — The Florida Small Business Development Center (FSBDC) at UCF continues to produce powerful results. The final 2013 numbers have been released, and statistics indicate the center made an impressive and significant impact on the Central Florida economy. Last year, the FSBDC at UCF helped over 2,200 entrepreneurs find innovative, new ways to grow and manage their small businesses. The agency also offered a total of 270 training events benefitting more than 5,000 attendees.
The FSBDC’s comprehensive approach accelerates Central Florida’s small businesses by helping them develop realistic plans to boost sustainability and profitability. FSBDC’s no-cost consulting, training, research tools and special services for established businesses have helped client companies throughout Central Florida:
- Create, retain and save 7,507 Jobs*
- Generate $1.04 billion in sales revenue*
- Access $51.5 million of capital
- Acquire $87.7 million in government contracts
The FSBDC at UCF is housed under the UCF Office of Research and Commercialization (UCF ORC) and will be aggregated under its new UCF Center for Innovation and Entrepreneurship (UCF CIE). The UCF CIE a university-wide program consolidating and coordinating major innovation and entrepreneurship support activities within UCF and its partnerships that foster innovation, wealth creation and economic vitality.
According to Dr. Tom O’Neal, associate vice president of the UCF ORC and director of the UCF CIE, “The
FSBDC at UCF’s contribution to the local economy is significant and goes far beyond these impressive numbers. Their support of entrepreneurs and small businesses contributes materially to the region’s innovation culture by providing the consulting support and training that encourages and helps give direction to emerging companies in our community. The Florida SBDC at UCF and its economic impact are, unfortunately, a too well kept secret in Central Florida.”
Eunice Choi, FSBDC’s Regional Director, attributes the bulk of this success to the center’s seasoned consultants. Clients are paired with a certified consultant who analyzes their business unit, identifies areas of strengths and weaknesses, and then helps them develop a strategic business management plan designed to drive their company to the next level of success.
Elipsis Engineering & Consulting, LLC is one of the more than 2,200 clients currently served by the center. Accomplishments they have achieved since starting work with the FSBDC include increasing staff from 17 to 30 employees; increasing revenue by 82%; purchase of an office building which expanded their facility from 3,000 sq. ft. to 7,000 sq. ft.; and doubling the size of their fleet of vehicles from 10 to 20. Moreover, the firm was awarded two 5 year $5 million continuing service government contracts with the Florida Department of Transportation for materials testing and geotechnical services and construction engineering inspection support. In addition, Elipsis has worked on some of the region’s largest projects including Sunrail, Wekiva Parkway and I-4 Ultimate.
Sarah Blake, President of Elipsis, commented on the contribution of the FSBDC and the Advisory Board Council program the company participated in, highlighting how they acted as a catalyst which helped drive the firm’s rapid development and expansion. “They have helped develop our business strategy and improve our hiring process,” explained Blake, “especially in a tighter labor market. With the financials they have helped me understand our profit margin and develop goals and metrics for strong financial growth. They have helped us establish a plan for our growth and resources.” In addition to the board’s input on the business, they also mentored Blake on her personal development. “The board has helped me develop as a business owner,” commented Blake. “My perspective has changed and I have realized what I need to be delegating. They have helped me to become a better leader.”
About the FSBDC at UCF
With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the Florida SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.
In 2013, the FSBDC at UCF served more than 7,200 entrepreneurs and small business owners through consulting and training, resulting in 7,507 Central Florida jobs created, retained or saved; $1.0 billion in sales growth; $51.5 million in capital formation; $87.7 million in government contract awards; and 129 new businesses started.
About the FSBDC Network
The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.
For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.
In 2013, the Florida SBDCs served over 34,000 entrepreneurs and small business owners through consulting and training, resulting in 39,536 jobs created, retained and saved; $5.5 billion in sales growth; $197.3 million in capital accessed; $602.2 million in government contract awards; and 685 new businesses started. And, for every $1 of Florida public and private sector investment in FSBDC programing, $35 was returned to the state in tax revenue
About the UCF CIE
The University of Central Florida Center for Innovation & Entrepreneurship (UCF CIE) is a university-wide program consolidating and coordinating major innovation and entrepreneurship support activities with the objectives of: Education, Research and Outreach. Its goal is to leverage university and regional partnerships to create an effective entrepreneurial support infrastructure in the Central Florida Region, with a mission to promote innovation, wealth creation, and economic vitality. The UCF CIE programs include: Blackstone Launchpad, Center for Entrepreneurial Leadership, Florida Small Business Development Center at UCF, GrowFL, UCF Business Incubation Program, UCF Office of Technology Transfer, and the UCF Venture Accelerator Connect at cie.ucf.edu
