Vermont SBDC requests $300K boost to sustain small business advisory services

The Vermont House Commerce Committee meeting on May 7 highlighted urgent funding needs for the Vermont Small Business Development Center (SBDC), emphasizing the critical role it plays in supporting the state's small businesses amid economic challenges.

Ellen, a committee member, passionately advocated for prioritizing additional funding for the SBDC, citing the pressures small businesses face from federal budget cuts and tariffs. "We don't spend enough time or money supporting the 27,000 small businesses in our state," she stated, underscoring the necessity of bolstering this vital resource. The SBDC provides essential one-on-one business advising at no cost, helping entrepreneurs navigate financial and operational hurdles.

Linda, representing the SBDC, elaborated on the center's challenges, particularly the anticipated loss of $150,000 in matching funds from Vermont State College System. This loss could jeopardize the SBDC's ability to accept federal grant funds, which are crucial for maintaining its services. "Without this funding, we will not be able to serve as many small businesses, which is critical for their survival," she warned.

The committee discussed a proposed increase of $300,000 in state funding for the SBDC, which would not only help replace the lost match but also enable the center to assist an additional 200 small businesses. Linda emphasized the importance of this funding being part of the base budget rather than one-time funds, as stability is essential for long-term planning and service delivery.

As the meeting concluded, the urgency of the situation was clear: without immediate action to secure funding, the SBDC's capacity to support Vermont's small businesses could be severely compromised, impacting the state's economic resilience. The committee's next steps will be crucial in determining the future of small business support in Vermont.