I wish to turn a spotlight on MTSU’s statewide role in small business development in this newsletter.
Created by Congress in 1980 and adopted by Tennessee in 1984, the Small Business Development Center (SBDC) program combines the resources of higher education, government, and the private sector to support the development of small businesses.
In 2004, I was successful in relocating the TSBDC lead center from Nashville to MTSU, allowing collaboration with faculty and creating experiential learning for students through paid internships in the community through the center.
With the lead center headquartered in Murfreesboro, the TSBDC network consists of 14 service centers (including at MTSU) and two affiliate offices across the state. Each service center is staffed by consultants who provide no-cost virtual and in-person business consulting, training, and resources to help businesses start, grow, and persist. After all, not everyone who starts a business went to business school.
Center staff can assist in business and financial planning, marketing and sales strategies, social media and website analysis, government contracting, international trade, cybersecurity, and numerous other areas. The centers also conduct market research as well as competitive and financial analyses at no cost to the client. And staff help companies with preparing to go before a lender and getting access to capital. TSBDC’s assistance and training resources represent a gold mine of opportunities for new and growing businesses.
Here are some recent updates: Statewide entrepreneurial impact: In 2024, the TSBDC program served over 5,700 entrepreneurs across Tennessee through its 14 centers across the state, continuing its over mission to drive economic vitality and support small business success in Tennessee.
Pioneering AI-driven support for entrepreneurs: Kayla Miller, associate state director of the TSBDC network, developed and deployed an artificial intelligence program to streamline and personalize services for Tennessee entrepreneurs, positioning the center as a trailblazer in Tennessee entrepreneurial support organizations and among the 63 national SBDC programs.
Empowering faculty research: The TSBDC lead center continues to support faculty-led research initiatives by supporting skilled graduate assistants.
Fostering student success: In 2024, the TSBDC supported 59 multidisciplinary student interns at MTSU, offering financial support and valuable experiential learning opportunities in entrepreneurship and a variety of other fields. The TSBDC also supports students in the classroom, from speaking in classes across campus to having four TSBDC staff members serve as instructors.
Engaging in regional development initiatives: The TSBDC proudly participated in the MTSU Business and Economic Research Center (BERC) Urban and Regional Planning Scholars Program, contributing its expertise to community planning efforts and preparing the next generation of leaders in sustainable development.
Securing funding: In partnership with the Tennessee Department of Economic and Community Development, the TSBDC secured $3.3 million in grant funding over five years through the State Small Business Credit Initiative—bolstering small business growth and contributing indirect funding to MTSU. This program adds to the TSBDC’s existing business focused services, which are supported by over $6 million in program funds annually.
