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Annual ReportWestern Washington University

Small Business Development Center

Year End 2017

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President’s Statement“Western’s mission to serve the needs of the state of Washington is at the forefront of the work we do every day. We strive to make a world-class education more accessible to all, to fuel innovation and to enable positive change in the lives of individuals and communities. While the reach of our impact is increasingly beyond Bellingham, it begins right

here with our local roots. We are proud to host and support the efforts of the Whatcom County SBDC and we applaud the 1,400 clients served, more than $34 million in new capital investment secured, and more than 1,000 jobs created or retained since 2010.”

Sabah RandhawahWWU President

To Learn MoreWestern Washington UnivesitySmall Business Development Center1616 Cornwall Ave., Suite #119Bellingham, WA 98225360.778.1762sbdc.wwu.edu

Letter From The DirectorTo our stakeholders,

“Active Minds Changing Lives.” It is a simple phrase. Yet it powerfully captures the ethos of what we do here at Western Washington University’s Small Business Development Center. These four words perfectly describe the transformative nature of the work we do with, and on behalf of, our clients.

As I reflect on the accomplishments and impacts that our program delivered throughout Whatcom County in 2017, it is with a sense of gratitude and pride that has only continued to grow since I first joined the program in 2006 as a Graduate Assistant during my MBA program studies. For 35 years, the Small Business Development Center program has been a beacon of hope, support and encouragement to the entrepreneurial clients we serve.

Whether looking back over 5 years, 10 years or since the Small Business Development Center first arrived on the scene in Whatcom County in 1983, our program has consistently delivered meaningful and measurable results.

2017 was no different, yet it was also remarkable in many ways. Through a period of uncertainty and change, our program remained resolute in our dedication to serving our clients and our communities while delivering an exceptional return on the investment of our stakeholders.

We helped new businesses successfully launch. We guided employees on their journey to becoming owners. We saw clients expand by adding new locations & buying buildings they had previously leased. We helped clients successfully complete their ‘exit strategy.’

It is my great honor to be able to share some of those success stories here in this annual report.

To my team, my leadership at Western Washington University and my community partners I want to say, “Thank you!” The continued support you give to our program is what enables us to meet people where they are, change lives for the better, and transform our community as a whole.

CJ SeitzWWU SBDC Director

About Our ProgramCore ServicesOur core services involve assisting our clients with making better informed business decisions to grow their businesses. We do that by providing in-depth, confidential, one-on-one business advising, business training and advisor assisted market intelligence.

Business AdvisingOur knowledgeable and personable Certified Business Advisors provide in-depth, confidential business counseling to Whatcom County businesses, free-of-charge due to the generosity of our funding partners.

We provided 1,417 hours of advising to 290 clients

Secondary Market ResearchThe SBDC leverages University resources and applied student learning opportunities to help our client companies plan for smart growth, adjust to changing market conditions and identify new business opportunities. Services include: consumer behavior, competitive analysis, industry trends, demographics and more.

We delivered 644 hours of research on 41 client projects

Academic CollaborationThe SBDC at Western Washington University serves as a conduit between the business community and the University. We work collaboratively with faculty to connect them, and their students, with our business clients to solve complex business challenges.

We delivered 559 hours of student work on 47 projects

The SBDC Assists Businesses With: Strategic Planning & ForecastingAccess to Capital, Loan ProgramsAlternative Funding OptionsMarketing Plan DevelopmentDemographics & PsychographicsIdentifying New Target MarketsHR, Personnel IssuesFinancial AnalysisExport AssistanceSuccession PlanningBusiness Valuations - Buying & Selling Businesses

“I am a big advocate of retaining and growing the

businesses we have here in Bellingham and that is why we support the work of the

SBDC. The professional expertise offered is a

tremendous resource to our local economy.”

Kelli LinvilleMayor of Bellingham

“I am pleased to recognize the consistently high

level of service provided by the Small Business Development Center at WWU. The SBDC

helps small businesses by providing guidance that gives them

a pathway to success. Whatcom County government is proud to support this

valuable program that makes it possible for our local community businesses to grow.”

Jack LouwsWhatcom County Executive

“The SBDC is an important economic development

resource for Whatcom County’s small business community. The Port is

proud to partner with an organization with a proven

track record of creating jobs by providing local entrepreneurs with the tools, services,

and information they need to reach their greatest potential.”

Ken BellPort Commission President

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Our Team

HALEY HALVERSON

Program Specialist

JANIS VANDER PLOEG-WOLFE

MBA Graduate Assistant

SHANE REED

MBA Graduate Assistant

SHERRI DAYMON

Certified Business Advisor

ERIC GRIMSTEAD

Certified Business Advisor

CJ SEITZ

Director, Certified Business Advisor

What We Do

We work collaboratively with our clients to help them make better informed business decisions.

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We were able to leverage our financial partners’ investment: for every dollar of local funding we received, our clients generated over $16 of new investment into our community.16:1

2017 ACTIVITIES

Program Impacts

We track and measure our results.

The Small Business Development Center and the Small Business Administration require that the economic impacts and business milestones that we report be validated with written acknowledgment from our clients. As our program has grown over the years so have the results we have been able to help our clients achieve.

OUTPUTS 2017 2013-2017

Number of clients 290 1,114

Number of counseling & support hours 2,620 14,157

IMPACTS

New business starts 10 59

Jobs created or saved 92 632

New investments $6.9M $27.7M

Our Funding Partners Make What We Do Possible.

The Port of Bellingham Whatcom County Western Washington University

The City of Bellingham The City of Blaine Small Business Administration

Northwest Workforce Northwest Business Development Association

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Client Testimonials

Each year hundreds of Whatcom County businesses entrust us to help them address the challenges and opportunities they face. While our services are confidential, many of our clients want to share their stories of working with our program.

“Thanks so much for sending us this in-depth report. My team is reviewing the report carefully and will be taking its recommendations seriously. Thanks again for including us in this project. What a great experience for the students and free consulting for local businesses! What a wealth of valuable information!”

Ellie SamuelOwner, Samuels Furniture

“Relational. Inspiring. Customized. The Small Business Development Center not only helped create a road map for 2roofs, they walked alongside us every step of the way. We are so grateful for this resource in our community.”

Sean Hall & Rob WestonCo-Owners, 2Roofs.com

“Working with our advisor has been very inspiring. She brings a contagious enthusiasm and depth of experience that allows her to share really valuable insights into our business.”

Ian & Jenny RaeCo-Owners, Chuckanut Builders

“It is very valuable to me to have a SBDC advisor who can provide insights, feedback and resources to deal with the myriad of challenges that come with growing a business.”

Dana BrandtOwner, Ecotech Solar

Good Work With Great Client

Companies

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Industry & Areas Of Service

As a federally funded program, we serve small businesses across most industry segments. Our service delivery largely resembles the overall makeup of our business community.

We Serve Many Industries

0 5% 10% 15% 20%

Accommodation/FoodAgriculture

Arts and EntertainmentConstructionEducationalHealth Care

ManufacturingProfessional/Technical

Real EstateRetail Dealer

Service EstablishmentTechnology Services

TransportationWholesale

0 5% 10% 15% 20%

27%

19%13%

11%

10%

6%5%

Marketing/Sales

Managing a Business

Financing/Capital

Start-Up Assistance

Buy/Sell a Business

Accounting/Budget

Business Plan

Areas of Counseling:

Industries Served:

TO LEARN MORE

Western Washington UniversitySmall Business Development Center

1616 Cornwall Ave., Suite #119Bellingham, WA 98225

360.778.1762sbdc.wwu.edu