Summary of Metrics and Deliverable Outcomes – (July 2018 – June 2019)
The NJSBDC program, which is composed of 12 centers (statewide), provides services and comprehensive assistance to established small businesses and aspiring entrepreneurs in all 21 counties. Impact of the program is summarized below:
Counseling (July 1, 2018 – June 30, 2019)
- Counseled 4,727 clients of which 60.4% are existing or established small businesses.
- 695 clients (24.33% of clients in business) were in business for up to a year;
- 1,029 clients (36.02% of clients in business) were in business for 1-5 years;
- 1,133 clients (39.66% of clients in business) were in business 5+ years;
- 3,701 clients received up to 5 hours of counseling; 1,026 clients received 5+ hours of counseling;
Training (July 1, 2018-June 30, 2019)
- Held 491 training sessions/seminars with 7,098 trainees in attendance.
- The topics taught fell within the following areas: business operations, business planning, financials, human resources, sales and marketing, start-up, and other topic areas.
Financing (July 1, 2018-June 30, 2019)
- In April – June 2018 (4th quarter) NJSBDC facilitated $20,750,496 in loans for clients; an additional $11,330,888 in equity financing was facilitated.
For the full FY 2018-2019 NJSBDC clients received 62 loans for $48,172,335 and $49,377,158 in equity financing for a total of $97.5 million.
- Of the 62 loans approved, 28 had a value of up to $100,000;
- 21 loans approved were for a value ranging between $100,000 to $500,000 category;
- 13 loans approved were for more than $500,000
Jobs Created/Retained (January 1, 2019 – June 30, 2019)
NJSBDC clients created 966 jobs and retained an additional 15,963 (16,929 total jobs created/retained)
As previously reported during July – December 2018 NJSBDC clients created 723 jobs and retained 7,449 jobs (8,172 total jobs created/retained)
Value of Procurement Contracts Facilitated
The results of an NJSBDC Procurement Program Survey of clients/trainees indicate that
NJSBDC’s assistance has resulted in 55 procurement contract awards valued at $13,134,002 for the period July 1, 2018 through June 30, 2019; the breakout is as follows:
- 14 federal procurement contracts valued at $12,000,000; *
- 1 municipal/county procurement contracts valued at $10,000;
- 40 private/commercial procurement contracts valued at $1,124,002.
Note: Based on past agreements executed with NJEDA, the number of created/retained jobs are provided on a semi-annual basis (2nd and 4th quarter); procurement contract value is based on semi-annual surveys.
* Multi-year drawdown on one large contract; procurement program conducted on a consultant/part-time basis (no longer full-time).
starting Your Business
If you are planning on starting a small business, NJSBDC, with the help of the Small Business Administration (SBA), is here to make your small business dreams a reality. Become a client and see how.
Expanding Your Business
If you are an existing business with annual revenue of up to $1 million or have more than $1 million in revenue and/or 10 or more employees, NJSBDC can help you expand your market share as a company and grow your vision into a successful company. Become a client and see how.