SEDCorp helping small business
I have the privilege of talking with outgoing SEDCorp CEO Brent Smith to discuss the opportunities for small business that the Sierra Economic Development Corporation, or SEDCorp, offers.
Brent begins discussion by noting SEDCorp’s origins. The private, non-profit organization has been around nearly 44 years serving the El Dorado, Placer, Nevada, and Sierra counties. He says their mission is threefold: to support the jurisdictions that created the entity, to provide small business training, and to provide access to capital for small businesses.
Brent says their extension of training and capital opportunities extend to 9 specific counties, to include: El Dorado, Placer, Lassen, Modoc, Nevada, Plumas, Sacramento, Sierra, and Yolo counties.
Brent notes that according to the Small Business Administration, 85% of businesses across California and the US, have 10 or fewer employees. He says in the foothills area, the figure is more like 95%. He says SEDCorp really tries to focus on the “micro-businesses” in their jurisdiction.
Brent talks about how important lines of credit are to micro-businesses and says SEDCorp actually advocates on alternatives to the option that help these businesses avoide a cycle of high cost debt. He explains that SEDCorp is a good resource to take advantage of as they do not have some of the same motives or costs that banks do. He says there are various loans available to learn more about and apply for on the SEDCorp website.
Brent also discusses the various business trainings SEDCorp offers. He says they offer three levels of QuickBooks training, fundamentals of business marketing, and so much more. The majority of their trainings are offered in Auburn and Placerville, and although they would welcome the opportunity to service Sacramento, Brent says some of their partners have terrific training already well-established in the county. He cites the Sacramento Business Development Center (or Greater Sac SBDC) as an excellent resource in the Sacramento area.
If you would like to hear my conversation with Brent Smith, who was the first guest on my show, you are welcome to listen by clicking here.