ITEM TITLE:
Report on Success Metrics for Small Business Development Center Workshops
SUBMITTED BY: Lisa Von Bargen, CED Director
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
None. Report only.
SUMMARY STATEMENT:
At the January 17th meeting Council approved a contract with the Small Business Development Center (SBDC) to hold a series of business development workshops in Valdez. Council made the request that success metrics be outlined so there is a way to measure if the workshops are successful at assisting businesses.
In order to better understand the needs of businesses in the Community the SBDC is conducting a survey of existing and potential business owners. As of February 15th the survey had generated 48 responses (a 19% return rate) with early results as follows:
• 44% of the responses are from 10+ year old businesses
• 35% of the responses are from 3-10 year old businesses
• Maybe, Somewhat Likely and Very Likely = 69% of the responses to "How likely to attend a workshop"
• Maybe, Somewhat Likely and Very Likely = 67% of the responses to "How likely to meet with an advisor"
All of the results generated as of the 15th had come as responses to direct email invitations. The survey will remain open through February 27th and a bigger media push through radio and newspaper to generate responses from budding entrepreneurs will take place the week of February 20th.
The results of the survey will be used to help generate the success metrics and those will be reported to Council in the near future. There will also be on-going reports about the workshops and advising sessions that are held and the participation associated with each one.
A copy of the survey instrument is attached for Council’s information.