Florence-Darlington Technical College (FDTC)
will develop and implement a program to strengthen and grow the area’s
small
businesses/manufacturers. The Small Business Enhancement & Development (SBED)
program is a comprehensive
approach of education and infrastructure to support
entrepreneurs at every level from students to those ready to establish
businesses. Entrepreneurs may choose to avail themselves of various levels of
support. FDTC has a cadre of highly
experienced, educated individuals who are
committed to SBED.
Education.
Classes will be tailored to small business owners and manufacturers and will
teach practical business survival
skills, including:
· Basic Accounting – topics will include: How
can small business owners ensure they are making money? What are
the most
effective ways to manage inventory? What is the most effective way to manage
cash flow? How do you
measure Return on Investment?
· Basic
Management – topics will include: When should a small business hire more people?
When should it hire
more managers? How does handling expansion work? When should
a small business open additional locations and
how does that change the
business?
· Microeconomics/Marketing
– topics will include: What is the best way to conduct an economic analysis? How
can
market structure be evaluated?
· Business
Law – topics will include: What should I do if someone sues me? What legal
obligations do small businesses
have to their employees?
Entrepreneurial Infrastructure.
The SBED will build upon the foundation of the Southeastern Institute of
Manufacturing
and Technology (SiMT) and the existing Advanced Manufacturing
Center (the College’s proactive approach to meet
manufacturing and economic
development challenges). The next building located on the SiMT campus will be
the Business
and Manufacturing Incubator. Even in this uncertain economic
climate, the funds have been raised to build the Incubator.
The Incubator will allow a small business to
work on establishing their product while accessing a full cadre of
services/training
and creating a successful business structure. The Incubator
will:
· support the small firms in a nurturing
environment with essential business services and support space at a
reasonable
cost;
· surround the firms with like-minded entrepreneurs who are striving for success at a similar stage of development;
· provide direct access for the firms to the
high-tech machinery of the Advanced Manufacturing Center and assist
their
success in product development;
· nurture the entrepreneurial spirit though mentoring and related counseling;
· help the firms graduate to other locations throughout the region;
· provide the ancillary services necessary for
small and growing businesses, such as common reception/secretarial
functions,
conference rooms, restrooms and related space.
The SiMT is part of the key economic
development initiative undertaken by FDTC and its strategic partners. FDTC is
gearing its programs toward a wide variety of entrepreneurs (college-age as well
as small business owners; there will
be an area in the Incubator set-aside to
nurture college-age entrepreneurs). The Business and Manufacturing Incubator
will be the only true incubator in the Pee Dee region.