We are pleased to share NH Small Business Development Center’s 2023 Impact Report with you.
As our nation’s economy continues to recover, the Granite State’s businesses have faced numerous challenges, including rising interest rates, workforce recruitment and retention issues, accelerated digital transformations, and increased cybersecurity threats.
However, with the assistance of our dedicated business advisors and team, thousands of small businesses continue to launch, grow, and thrive. Every day we work tirelessly alongside entrepreneurs to make their dream of owning a small business come true. Entrepreneurship can feel lonely and isolating, but when you connect with the SBDC team we open doors to a whole host of resources, lenders, and organizations that have programs to support business growth and development.
With the support of our federal, state, and local funding partners, we are driving New Hampshire’s economy forward one small business at a time. Prior to the pandemic, NH SBDC served 862 clients through one-on-one confidential business advising, while in 2023 we advised 1,721 clients. This is a 100% increase in the number of clients served in four short years. In 2023, with NH SBDC’s help, our clients accessed $37MM in new capital, increased their sales by $26.4MM, and created or retained 628 jobs.
Our total annual economic impact on the state of New Hampshire in 2023 was $242MM. Yes, you read that right, NH SBDC’s small but mighty team’s effort contributed $242MM in economic impact, job creation, and growth!
When we look to NH SBDC’s future, we are excited to be involved in cutting edge projects and innovating with key partners to help make our companies more competitive in today’s global economy. We are also incredibly proud to have created a stronger sense of inclusive belonging throughout our network to better support entrepreneurs from every walk of life.
We celebrate NH SBDC’s 40th anniversary in 2024. It’s an honor and a privilege to do the work that we do to support entrepreneurs and small business owners across our great state.