Have you ever considered owning your own business? Do you have an idea, a plan, or a concept but do not know how to get the ball rolling? If you are or have ever thought about becoming a prospective entrepreneur then this article is for you. In a world of costly fees and services, finding free resources for prospective business owners and current small business owners can be extremely challenging at best. The Tennessee Small Business Development Center (TSBDC) may be exactly what is necessary to launch your idea or concept into motion.

Business startup is highly difficult and longevity even more demanding. Because of the daily struggles and challenges, many small businesses fail within 24 months, 5 years, and 10 years without proper support and guidance. The Small Business Administration states that 30% of new businesses fail during the first two years of being open, 50% during the first five years and 66% during the first 10 years. Today, there is help and endless resources available to anyone interested in beginning or expanding a small business, even to those who cannot afford the services of a private business consultant.

The Tennessee Small Business Development Centers are partnerships between our government and local colleges with governance by the Small Business Administration. TSBDC offered services include entrepreneur training, understanding business taxes and insurance, obtaining grants and business loans, financial planning with income forecasting, marketing, production organization, engineering and technical problems, licenses application, and feasibility studies. These services are free and confidential with additional low cost training options available.

The mission statement of the TSBDC says it best; “Recognizing that small business is the economic backbone to the state of Tennessee, the TSBDC’s mission is to be the premier provider of quality solutions to potential and existing small businesses’ needs through consultation, education, referral, and support services. By providing these services through its interactive network of resource partners, the TSBDC promotes growth and prosperity in the domestic and international markets of the business community and enhances its economic impact on the state of Tennessee.”

The TSBDC assisted over 16,000 businesses with counseling and training in 2017, and has assisted more than 100,000 business over the last 30 years. While supporting more than 3,500 clients, the economic impact produced more than 1,100 jobs and over $1.6 million in capital formation in 2017 alone. These numbers are impressive and present several opportunities for economic and business growth within Union County. Additional details and information is available on the program website, www.tsbdc.org, or call the Knox County Area office at (865) 246-2663. The TSBDC has the knowledge to figure out what it takes to start or improve your Tennessee based business. Be empowered, educate yourself, and build your own Union County based business.