Switch to the current Annual Report
America’s SBDCs help make the dream of small business ownership a reality for more Americans — creating jobs and opportunities that build communities throughout the nation.
See how the Minnesota SBDC has served its communities.
Children's Corner, A Small Childcare Business, Is Growing Instead Of Shrinking During COVID-19.
When the pandemic began, families removed their kids from daycare, including Children's Corner in rural West Central Minnesota. The SBDC helped Sue TenEyck-Stafki apply for loans and re-imagine her market. She saw an emerging segment and offered essential workers a safe childcare environment so they could remain on their jobs. She established new practices, serving no more than ten children in a space, wearing masks, and maintaining social distancing. The kids and the business are growing.
When Your Customers Can't Come To You, You Go To Them
Nathalie Nkashama, is a county social worker who started her business with the help of the SBDC and other agencies. "World Mart" provides African emigres access to specialized foods in rural Minnesota. Then she moved out of her store into a trailer.
253
253
Minnesota SBDC clients created 253 new businesses in 2020!
Worldwide Leader In Medical Technology Products Will Continue To Export From Minnesota
ThermaSolutions is the global leader in Hyperthermic Medical Technology. Steven Davis worked for ThermaSolutions for 7+ years. The owners, who are in their mid-60s, were considering exit strategies. Three years ago, Davis presented them with the idea of selling the company. With the invaluable help of the Minnesota SBDC to find legal counsel, prepare financial information, meet with owners/shareholders, give moral support and most of all - find potential financial partners - he just closed the sale!
I would like to thank you for all the help the SBDC provided to me. We grossed over $158,000 last year and we're on track to surpass that this year. We accomplished the 5-year goal we had in our business plan in just 2 years! Again, THANK YOU!
Larry Pocrnich, Veteran's Community Thrift Store, Hibbing, Minnesota
Nationwide DI Water Solutions Rapidly Becomes A Nationwide Success!
With 24 years in the water solutions industry, Bruce Iverson decided it was time to purchase the business he was working for. But when that didn't work out, he decided to start his own business. With help from the SBDC, he created a business that has become one of the most advanced and efficient deionized resin plants in the US. The overwhelming success led to rapid growth of the business, adding an additional building here in Minnesota and a new warehouse in Tennessee to handle the demand.
Northern Minnesota Business Pivots to Fight Pandemic
Lucas Hoffman and Marco Fenu are engineers who own Inline Motion, which specializes in designing and manufacturing product handling systems for food processing. In 2020, with their engineering expertise and their machinery, InLine Motion shifted production to manufacturing much-needed face shields, using social media to develop an entirely new customer base. The SBDC worked with InLine Motion on avoiding debt and overhead while developing a new product in response to market needs.
Not All Disasters Come In The Form Of A Hurricane
The civil unrest that followed the killing of George Floyd saw more than 1500 Twin Cities businesses damaged, closed and some burned to the ground. Many of those businesses were already reeling from the COVID disaster, so they needed special assistance. Staff from the Minnesota SBDC and partner organization LegalCorps, personally visited many of them to provide information about disaster financing, free legal assistance and help with filing insurance claims, so they could recover and reopen.
.jpeg)
For this Army Veteran, Help From the SBDC Was The "KEY" To A New Business
Tony Walters, US Army Veteran, came to the SBDC in January of 2020 for business planning and assistance in buying an existing business... Key City Electric. He met with his consultant to determine feasibility and valuation for the business and then assemble the financial projections to obtain the necessary financing. He's now in business and making sales. He continues to consult with the SBDC and mentor with the previous owner.
JR's Barn Is A Magical Destination For Weddings And Other Events
Renae and Joel Groskrentz poured their hearts into renovating and remodeling their 1912 barn to create a unique event center. They worked with the SBDC to find financing, create a website and attract bookings. It was a match made in heaven!
Immigrant Entrepreneurs Weather the "Covid Storm"
Dean and Giane Tonev are great examples of immigrants who came to this country to pursue and succeed at the American Dream. Dean, from Bulgaria, and Giane, from Brazil, moved to Minnesota six years ago, opening Hotova Crossfit Studio soon thereafter. Their business has transformed from a studio into on-line training programs, allowing their customers to use equipment they need for the fitness routines. The SBDC advised them, helped them to grow in 2019 and to secure a CARES grant in 2020.
