FAQ's

  1. How do I get assistance from the WC MN SBDC? 

      You can receive no-cost consulting services with the WC MN SBDC by first registering for services through a secure Minnesota SBDC website. This way we have your contact information and learn about your company. Once you have completed your registration your request will be reviewed by our center and a consultant will be assigned to you based on your specific needs. You can also check out our events page to look for upcoming events and trainings from the Small Business Development Center. In the meantime feel free to check out our resources or FAQ page for more information. 


2. What happens when I meet with a consultant? 


 Each consultant meeting is individualized based on your needs. Typically at your first meeting you will discuss your business and history. Whether it’s just an idea you have or a business you have been running for 30 years, the SBDC can assist you in the next stage.  We ask questions about your business, discuss your goals and objectives as well as risks and opportunities. Your consultant will provide tools to assess your situation based on the needs of your individual business. 


3.   Where does your funding come from? 


 The SBA and MN DEED provide federal funding for the operation of the SBDC.  In order to qualify for these federal and state funds, each center must provide matching funds equal to the federal and state funds provided.  At least 50% of the funding needs to be matched with local dollars.  More information can be found on our partners page. If you are interested in making a tax-deductible contribution to the SBDC, please contact the WC MN SBDC.


4.   How does the WC MN SBDC work with students? 


 The WC MN SBDC is able to offer internships for students interested in marketing research, communications, financial analysis, and business planning. Additionally, clients can sign up through the WC MN SBDC to have their business participate in student projects such as marketing, business planning, and other projects as needed. 


5. Where is the WC MN SBDC?

 

The West Central Minnesota Small Business Development Center is hosted by Concordia College in Moorhead, Minnesota. Our offices can be found on the top floor of the Offutt School of Business located in the Grant Center. Each month we have satellite days in six cities within west central Minnesota: Alexandria, Detroit Lakes, Fergus Falls, Hawley, Morris, and Perham. For more information on where we are located see locations.


6. Isn't the SBDC only for startups? 


 While the SBDC certainly has information helpful to those starting a business, our primary function is accelerating the high-growth potential of existing and emerging businesses, to become more innovative and competitive.


7. What types of business issues do you help with?  


Customized services are delivered by a team of professional business consultants with a diverse and comprehensive array of knowledge and expertise. We do not do the work for you, but we equip you with the information and resources that you need. Below are some of the areas in which our consultants provide relevant and realistic advice:

  • Business plan development
  • Access to capital and loan packaging
  • Business operations
  • Cash flow management and financial analysis
  • Bookkeeping and QuickBooks
  • Marketing and market research
  • Website and social media
  • Buying or selling a business
  • Business valuation
  • Turn-around assistance for distressed businesses
  • Start-up assistance

NOTE:  SBDCs cannot provide individual legal advice or engage in public accounting, including rendering tax advice.