HOW THE SBDC CAN HELP DURING COVID-19
As we began our 40th year of supporting small-businesses owners, few could have predicted how quickly business would change in a short period of time. Like businesses across the country, we shifted to remote work in early March. Around this same time, SBDCs across the country were tasked by the Small Business Administration (SBA) to serve as local support systems for business owners through our established no-cost one-on-one consulting program. The SBA asked us to help small businesses adapt to constantly evolving crisis circumstances and to be their touchpoint for helping business owners navigate applying for Economic Injury Disaster Loans (EIDL), Paycheck Protection Program monies, and other SBA products.
Given this charge, we focused many of our efforts on one-on-one consulting. In the first 8 weeks of the crisis (as of 5/12/2020), UW-Madison SBDC consultants have:
- Seen 195 clients related to the COVID crisis
- Spent an average of 1.7 hours with those clients over multiple meetings
- Assisted clients with the process of receiving $6.17M in federal/state/local aid
In addition, we have been sending regular curated, researched newsletters to provide you with updates on policies, programs, resources, and business crisis tips. We have also recently released a free COVID response guide for small businesses. This guide was written based on our 40 years of experience working with small businesses and incorporates lessons we’ve learned since March while working side-by-side with many of our small business clients.
As we move forward, we continue to look for opportunities to support your business. In the meantime, if you would like to connect with one of our business consultants, please complete our online request form, and a consultant will reach out to you within two business days.
In addition to our suite of in-depth classes hosted by expert instructors, the statewide Wisconsin SBDC Network is also providing some classes at no cost for COVID recovery. These classes are supported by Section 1103 CARES Act funding for entrepreneurial development.