2 min read October 2023 — The Florida Small Business Development Center (SBDC) at Florida Atlantic University (FAU) offers consulting and training with access to databases and expert consultants. Invest: spoke with Regional Director Sandra Marin Ruiz about recent highlights and challenges for the organization, the evolution of the South Florida business community and the outlook and priorities for SBDC at FAU.
What is the mission of SBDC at FAU?
The Florida SBC at FAU is a program of the Small Business Administration and hosted by Florida Atlantic University. The SBDC is an anchor of the innovation and economic development ecosystems across the nation. To fulfill our mission in a higher capacity in the region, I was appointed to facilitate the designation of Innovation Economic Prosperity for The Florida Atlantic University. The goal is to obtain a designation from the Association of Public and Land Grant Universities. It’s an initial three-year process and involves describing our actions in terms of international, economic and community engagement. We seek input from our stakeholders to determine the ideal relationship between the university and industry-related topics. Our collaborative approach on and off campus aims to spearhead numerous outreach activities and develop a continuous improvement plan that aligns with the feedback we receive from our communities and stakeholders. There are only three or four in the entire state of Florida.
Our mission remains unchanged, to continue supporting small and local businesses. We’ve secured more community engagement funding to expand the Grassroots Program and it is directly related to my experience and doctoral dissertation in social innovation. From SBDC, we support regional communities in two ways. First, we encourage the community itself to foster innovation by identifying challenges that can be addressed through technology. We provide them with the necessary skills and tools to develop themselves. Secondly, we leverage the university resources, listen, and collaborate with the community to apply our technological expertise in addressing their challenges with their support. All of these efforts are aimed at improving the quality of life, particularly through health or transportation. Social innovation bridges that gap by empowering the community to acquire the necessary skills to drive innovation.
What challenges have communities faced in terms of accessing business resources, and how is your team strategizing to address these challenges?
We operate on a nationwide model. It’s a 60-year-old program providing business consulting to those who are ready to become an entrepreneur and start a business. Our Grassroots Programs assist communities in the preliminary stages. When individuals come to SBDC services, they already know that we exist. We provide all our services at no cost, ensure confidentiality and employ professional consultants. When someone expresses that they want to become an entrepreneur, the first thing we inquire about is their idea because they need to work on a business plan. Even professionals may require assistance. We acquired the APEX Accelerators Program, a nationwide Department of Defense initiative. This program has been facilitating government contracts for the past 40 years through the Procurement Technical Assistance Centers (PTAC). On Aug 2, the Florida SBDC conducted the marketing launch of the Apex Accelerator Program. This program has provided us with an opportunity to reintroduce and offer specialized programs for those just starting their entrepreneurial journey and build up a path for government contracts or commercialization. Our partners, along with county and city organizations, have been instrumental in conducting essential training to obtain certification and more. However, there’s still a lack of awareness that this training is necessary for them to approach government contracts. The Apex Accelerator focuses on technology commercialization to pave the way for government contracts, providing many opportunities within manufacturing, aerospace and other defense innovation services. It encompasses all goods and services that can be sold to federal agencies.
During your tenure at SBDC, how have you seen the business community in South Florida change and evolve?
Three years ago, my work primarily revolved around the traditional industries such as hospitality, logistics and healthcare. We have increased our reach in tech commercialization, for instance supporting oceanographic research. One of the changes that we’ve seen in Palm Beach is the increasing requirement of consulting to serve or create businesses in the financial sector. The “Wall Street South” branding that attracts several new companies around that wealth creator. There’s more of a real estate movement and more services related to older age groups. The younger generation is starting businesses in tech and more hedge funds are coming into focus. There are new investment opportunities for tech startups and export assistance services. The export mindset is related to our port and advantageous geographical location to tap into the global market. There has been significant growth in professional services in managing funding and financial resources. People are purchasing businesses, remodeling and expanding in different ways. The hospitality industry has been scaling up and there’s more capital access.
How do partnerships play a key role in the work you’re doing at the SBDC at FAU?
Our programs are built upon collaboration. We receive funding from federal and state governments, from our host institution, local governments, chambers of commerce. Grassroots has been expanded in Palm Beach thanks to the support of the Palm Beach Community Foundation, Citibank, and other financial organizations. We serve two counties that account for 2 million people. Every outreach opportunity allows us to advocate our mission of helping business owners and communities. Partnerships are the nature of our existence. Part of my daily job is seeking and enhancing partnerships to make them aware of the positive impact we have on society, emphasizing that our services are provided at no cost. The state of Florida has capital access funding that becomes available whenever a disaster is declared. COVID was declared a statewide disaster just one week after I started leading the SBDC at FAU. We suddenly received 6,000 applications for support within just one month. I reached out to regional economic and community development partners that had never heard my name. One great example of how our community reunites to help our businesses is that the Palm Beach County Department of Economic Sustainability created a program in a few days to provide the support of 12 new capital access specialists who came on board quickly to expand our team. We have an amazing collaborative environment. We all work together toward the same mission and that’s the best return.
What are the key priorities you have for the organization?
We work with well-rounded partners in the region. I’m working more in partnership building outside of the region and meeting other people who can help us in different capacities. I’m also working nationally, promoting Florida’s unique concept and mindset. I recently returned from speaking at international conferences that focus on university and industry partnerships highlighting Florida as a destination for landing businesses. We’re working to attract a multilateral company and bring funding to the region. When we apply for nationwide grants, it’s super-competitive and we have great strengths to apply and obtain support to expand the economic and social impact of our programs. We work constantly on creating awareness of those impacts. It’s crucial that we go outside the region to seek support that can be brought back to benefit our local community.
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