Lynchburg Business Insider Blog

Small Business Development Center Supports Lynchburg Start-Ups

Posted by Lynchburg EDA on Jan 12, 2015 8:30:00 AM


The Region 2000 Small Business Development Center (the SBDC), located at Central Virginia Community College, continued to deliver solid support to the Lynchburg business community in 2014. The Region 2000 SBDC is a member of the Virginia SBDC network and is partly funded by the federal Small Business Administration. The office serves the City of Lynchburg, and Amherst, Appomattox, Bedford, and Campbell Counties in Virginia.

The Region 2000 SBDC is an effective provider of customized counseling and education for small businesses in the region. Individuals and businesses can meet privately with a certified business analyst to discuss specific issues or attend small-group trainings for in-depth presentations on critical management topics.

During the calendar year 2014, the SBDC:

  • Served more than 112 clients, approximately 60% existing businesses and 40% pre-venture businesses, working with them to start, grow and remain strong; a 23% increase from the previous year
  • Fielded over 523 business inquiries from the community and provided approximately 327 hours of direct consulting to clients; a 78% increase from 2013
  • Offered 74 seminars serving over 393 participants and providing over 1,061 hours of training for small business owners. 
  • Worked with 10 new businesses in the region and over $2 million in capital acquisition
  • Returns approximately $11 for every dollar local communities invest in its programs, based on service value

The Lynchburg Office of Economic Development provides the local match for the City of Lynchburg to support the SBDC. 82% of Lynchburg’s businesses have less than 20 employees and 97% have fewer than 100 employees. Businesses that work with the SBDC are 88% (a national average) more likely to be successful.

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Topics: Development, Business Retention, News & Events