The 2019 Economic Impact Study of the University of Georgia Small Business Development Center (UGA SBDC) provides solid evidence that entrepreneurs utilizing UGA SBDC assistance experience greater sales and employment growth than the state averages. The study found that the employment base of UGA SBDC’s existing business clients grew by 20.3 percent, while overall employment levels in Georgia increased by 1.9 percent. Also, during the same time, existing business clients increased their sales by an average of 22.9 percent, while the average Georgia business experienced an increase of 5.0 percent.
Benefiting the Economy
The tax implications show that UGA SBDC clients (both existing and pre-ventures) generated over $11.8 million in state tax revenues and nearly $7.5 million in federal tax revenues beyond what they would have generated if their performance levels had been the same as that of the average Georgia business. These incremental tax revenues more than cover the entire UGA SBDC budget. Overall, satisfied, long-term business clients of the University of Georgia SBDC were responsible for the creation of an estimated 2,984 new jobs and over $343 million in incremental new sales for the year 2018.