Vermont Tech's SBDC program receives 2020 New England Excellence and Innovation Center Award

Randolph Center, VT (10/13/2020) — A virtual awards program facilitated by the Vermont District Office of the U.S. Small Business Administration honored regional businesses and VtSBDC (Vermont Small Business Development Center), a department hosted by Vermont Technical College. VtSBDC, which is funded in part by the SBA and the State of Vermont Agency of Commerce, received the 2020 New England Excellence and Innovation Center Award on Sept. 21, 2020, an honor for both the organization and for the college.

The award is given annually to an organization that helps build small businesses, including startups, by creating and implementing innovative programs, events, publications, research and educational materials and online applications. For all SBDCs, the four performance measures for the year are: long-term counseling clients, new business starts, capital infusion and jobs supported. VtSBDC's results, based on state population, achieved 144% of client target, 179% of new business start target, and 170% of capital infusion target, and 133% of the jobs supported target. VtSBDC also tracks client satisfaction and achieved 98% client satisfaction in a recent survey of more than 500 clients.

VtSBDC has operated in partnership with the Vermont State Colleges since the center's inception in 1992, with the Lead Center at Vermont Tech. Several of VtSBDC's advisors also serve as guest lecturers and part-time faculty members for courses focused on entrepreneurship, technology and business, helping prepare Vermont Tech students to be future members of the workforce.

"On behalf of VtSBDC, we are honored to be the recipients of this prestigious award that reflects upon our commitment to the future of Vermont," said Linda Rossi, State Director, VtSBDC. "We recognize that the future belongs to the young entrepreneurs and innovators. As a result, one of our primary initiatives is to equip our students with the tools to identify and solve problems, and to serve as a resource to help students within Vermont achieve their goals."

"Congratulations to VtSBDC on this honor. We know what excellent work they do and it is great for the team to be recognized," commented Vermont Tech President, Patricia Moulton. "VtSBDC has also led student entrepreneurial projects at the college. A recent example is a business plan done by graduates that resulted in a new business for Vermont. A great win/win for SBDC, our students, the college and Vermont."

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About VtSBDC - Established in 1992, the Vermont Small Business Development Center (VtSBDC) works to positively impact and strengthen established businesses and start-ups throughout Vermont. Area advisors provide no-cost professional expertise and guidance, combining one-on-one confidential advising with training programs to give clients the tools they need to reach their business goals. VtSBDC is experienced in helping entrepreneurs and small business owners navigate disaster recovery, from Hurricane Irene in 2011 to COVID-19 today. The team has been nationally recognized for its expertise and proprietary resources, which can be found on the website. The VtSBDC is committed to helping business owners, including high school students and college-age entrepreneurs, make informed decisions so they can grow and sustain their business in Vermont.

VtSBDC is hosted by Vermont Technical College, part of the Vermont State College System, and is funded in part funded in part through a cooperative agreement with the U.S. Small Business Administration and the State of Vermont Agency of Commerce. For more information, visit their website at www.vtsbdc.org.

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