< PreviousThe Tennessee Small Business Development Center’s main offices are located in the Rutherford County Chamber of Commerce & Visitors Center building in Murfreesboro, Tennessee.10New Businesses • Ownership Structure • Business Plan • Banking Needs • Market Research • Sales and MarketingExisting Businesses • Capital Infusion • Cash-Flow Issues • Employee Issues • Customer Service • Growth Issues • Government Procurement • Thriving in Hard TimesTSBDC Business Assistance ProvidedThe Tennessee Small Business Development Center11We Are All About Job Creation and Capital Formation!Small Business Development Centers (SBDCs)Starting a business can be a challenge, but there is help for you in your area. Small Business Development Centers (SBDCs) are partnerships primarily between the government and colleges/universities and are administered by the Small Business Administration. SBDCs provide educational services for small business owners and aspiring entrepreneurs.“ MTSU’s Tennessee Small Business Development Center’s statewide network delivers educational programs to entrepreneurs who want to start or grow their small businesses. Our consultants work with entrepreneurs in confidential, one-to-one sessions to help them with business issues, including testing a new business proposition, shaping a business plan, investigating funding opportunities, and much more.”Dr. Sidney A. McPhee President, Middle Tennessee State University0117-3793 / Middle Tennessee State University does not discriminate against students, employees, or applicants for admission or employment on the basis of race, color, religion, creed, national origin, sex, sexual orientation, gender identity/expression, disability, age, status as a protected veteran, genetic information, or any other legally protected class with respect to all employment, programs, and activities sponsored by MTSU. The Assistant to the President for Institutional Equity and Compliance has been designated to handle inquiries regarding the non-discrimination policies and can be reached at Cope Administration Building 116, 1301 East Main Street, Murfreesboro, TN 37132; Marian.Wilson@mtsu.edu; or 615-898-2185 The MTSU policy on non-discrimination can be found at www.mtsu.edu/titleix.LOCATIONS• Located in all 50 states as well as the District of Columbia, Puerto Rico, and U.S. Territories.• Operated statewide or at a state/region level.• 63 Lead Small Business Development Centers (SBDCs).• Lead organizations coordinate program services offered to small businesses through a network of subcenters and satellite locations in each state.• Each center has a director, staff members, volunteers, and part-time personnel.The Facts about SBDCsWHAT IS OFFERED?• SBDC services include, but are not limited to, assisting small businesses with financial, marketing, production, organization, engineering and technical problems, and feasibility studies.• All services given at SBDCs are free and confidential.• Additional low-cost training options are available.ELIGIBILITY• Assistance from an SBDC is available to anyone interested in beginning a small business for the first time or improving or expanding an existing small business and who cannot afford the services of a private consultant.About The Tennessee Small Business Development CenterDisaster RecoverySmoky Mountain Wildfire DisasterFatalities14 confirmed fatalities1Injuries/Illnesses191 injured or ill as result of fires2Acres Destroyed17,136 2Quick facts2,460 total buildings damaged or destroyed3Breakdown: 1,137 in Gatlinburg; 18 in Pigeon Forge; 1,305 in other parts of Sevier County = Total 2,460 3Sources1. http://www.wbir.com/news/local/wildfire/list-13-lives-lost-in-sevier-county-wildflires/3620330552. http://www.wbir.com/news/local/gatlinburg-officials-a-fire-for-the-history-books/3579128723. http://www.usatoday.com/story/news/nation-now/2016/12/09/gatlinburg-great-smoky-mountains-national-park-reopen/95181192/Residential Structures AffectedDestroyedMajorMinorAffectedTotalCounty1,1237421261,298City of Gatlinburg981729541,071City of Pigeon Forge1700118Full Totals2,12114711812,387Commercial Structures AffectedDestroyedMajorMinorAffectedTotalCounty50117City of Gatlinburg5331966City of Pigeon Forge00000Full Totals58321073Grand Total Structures AffectedCounty1,305City of Gatlinburg1,137City of Pigeon Forge18Full Totals2,460Data from Sevier County, City of Gatlinburg, Tennessee Emergency Management Agency 3Structures AffectedSevier County Wildfire 201612Sevier County DisasterExpanding the Mechatronics Engineering Program at MTSUMTSU’s TSBDC Lead Center, under the direction of President Sidney A. McPhee, assisted the president in the development of a white paper addressing both a needs analysis and capital allocation strategies to expand the Mechatronics Engineering program as it relates to equipment, building, and infrastructure.14MTSU Siemens Level 3, B.S. in MechatronicsEngineeringMotlow State Community College, Siemens Level1 and 2Mechatronics ProgramCollaborationIndustry and Manufacturing Leadership CouncilKeith HamiltonJimmy DavisJudith BevelsLocal GovernmentFederal GovernmentGovernor Bill HaslamState GovernmentState RepresentativesJudd Methaney, etc.Tennessee Board of RegentsState SenateBill KetronJim TracyTN Department of Economic and Community DevelopmentCommissioner Randy Boyd and Staff MTSU Department of Engineering TechnologyDr. BolesDr. Ahad NassabPresident Sidney A. McPheeMiddle Tennessee State UniversityMTSUProvost Of ceSiemens International, Inc.(Level 1, 2, and 3)World Certi cationTennesseeCongressionalRepresentativesDepartment of Labor Department of DefenseNational GuardFort CampbellManufacturingCompaniesAccurouterBridgestoneNissanGeneral MillsYatesWirtgenYorozuMPCM-teketc.County GovernmentsRutherfordWarrenLincolnetc.Chambers of Commerce and Joint Economic and Community Development BoardsMid-State Boards of Education and SuperintendentsDr. Odom, et al.15Client HighlightsExpanding the Mechatronics Engineering Program at MTSUAbstractThis study assesses STEM (Science, Technology, Engineering, and Mathematics) workforce dynamics within the context of the resource-based view. As STEM skills may be considered a region’s or a business’s core competency, there has been ongoing debate about whether the U.S. has shortages in STEM fields. Using several databases (Bureau of Labor Statistics, Kauffman Foundation Survey, American Community Survey, and MTSU STEM Survey), this study seeks answers to the following questions: Is the STEM shortage a myth? What impact may a STEM skill shortage have on businesses and regions? How is STEM training related to entrepreneurial activities? The study findings suggest the lack of the right STEM skill set may have important business and regional implications.Tennessee STEMRESOURCE-BASED THEORY AND STEM WORKFORCE DYNAMICS: STRATEGIC IMPLICATIONS FOR BUSINESSES AND REGIONSMurat Arik, Middle Tennessee State University Patrick Geho, Middle Tennessee State UniversityAs this study demonstrates, STEM shortages manifest as outright shortages in high-technology areas, relative skill gaps in existing occupations, and mismatches between market demand and educational supply.Our Research Continues The debate about STEM workforce shortages is not over. This study suggests the STEM shortage is not a myth but a reality. While some STEM fields have been overproducing/oversupplying for years, many other fields have been experiencing chronic shortages. Given the importance of the STEM skill set for the economy, it is time to treat the STEM skill set as a core competency of firms and regions. This is critically important because the gap in skill and shortage in this area results in significant economic losses, as suggested by this research.1615,6803,7619811,74714,433$87,138,214TSBDC Performance DataNumber of businesses assisted in 2016 with counseling and trainingCounseling ServicesEconomic Impact for TSBDC79411,919Training ProgramsThe professionals of the TSBDC network prepare customized training programs to meet specific needs.Training EventsNumber of AttendeesSales Growth for ClientsTSBDC clients generated $48 million in incremental sales.TSBDC clients retained $133 million in existing sales.** All state research data is from James A. Chrisman, Ph.D., Economic Impact of Small Business Development Center Counseling Activities in Tennessee, 2014–15.Jobs RetainedJobs CreatedCapital Formation(verified by clients)Number of ClientsHours of CounselingTSBDC Performance Data / National Economic Impact17$6.9 Billion100,233National Economic ImpactReturn on InvestmentSBDC clients nationwide generated $607 million in tax revenues.SBDC clients generated for every federal dollar $2.33 federal revenue and $3.01 state revenue.Does the SBDC Work? America’s SBDC network is a cost-effective way to create jobs, grow the economy, enhance American competitiveness, and fulfill the American dream. SBDCS HELP SMALL BUSINESSES CREATE JOBS.SBDC clients nationwide generated in incremental sales.Jobs Created(By SBDC Clients in 2014–15)$265 MillionFederal Revenues Generated$113.5 MillionFederal Appropriations$342 MillionState Revenues GeneratedResearch methodology: Data is derived from prior two years in order to measure historical outcomes of client businesses.* All state research data is from James A. Chrisman, Ph.D., Economic Impact of Small Business Development Center Counseling Activities in Tennessee, 2014–15.Financing Obtained by SBDC Clients NationwideSBDC assistance resulted in total financing of $4.6 billion.$1,662,525,000SBA$1,872,654,000 Other DebtEquity$1,087,272,00018The CPA Outlook Index (CPAOI) is a broad-based indicator of the strength of U.S. business activity and economic direction that reflects the views of CPAs who are AICPA members in Business and Industry, holding executive positions in both public and privately-owned organizations of all sizes and across a broad spectrum of industries.The CPA Outlook IndexOutlook for the U.S. Economy and OrganizationsOptimism increased for economy, organizations, and expansion plansThe number of CPA executives who are optimistic about the U.S. economy increased significantly from 38% in the third quarter to 62% in the fourth quarter after declining to 28% in the first quarter of 2016. The percentage of those pessimistic also dropped from 22% to 11%.Organizational optimism increased from 53% to 61%. The percentage of companies with expansion plans maintained at 62%. Outlook for the U.S. Economy, Organizations, and ExpansionConcerns about inflation and deflation flipped again this quarter, while not a significant concern in either direction. After decreasing to 11% in the third quarter, 28% of respondents are now concerned about inflation. Conversely, only 4% are now concerned about deflation, dropping from 18% in the third quarter.Labor costs continue to be the most pressing concern for 43% of respondents, dropping from a high of 55% in third quarter. Interest rate concerns follow as the top concern for 23%. Raw material costs increased from 18% in third quarter to 20%. Energy cost concerns dropped down to 10%, comparable to the 11% in the second quarter of 2016.TSBDC Performance Data / National Economic Impact19Next >