It’s often said that economic development is a team sport. Nowhere is that more apparent than in the small business arena, where many local, state and national organizations work together to foster an environment promoting entrepreneurship and small business growth.
Among the organizations that S.C. Commerce works with on a routine basis to cultivate that positive environment is the U.S. Small Business Administration. In fact, last week, the two entities made the partnership official, signing a strategic alliance memorandum (SAM) in order to strengthen and expand small business development across the state.
Recognizing that small businesses account for more than 97 percent of all private employers in South Carolina, the two entities agreed to elevate collaboration to support these firms. This includes more frequent communication between the two, as well as increased efforts to involve the many other statewide organizations that work to support small and existing industry.
In addition, the SAM calls for the two entities to co-host events in the coming years that will provide small business leaders with access to resources and information regarding various capital offerings.
Stay tuned for more on these initiatives as this partnership continues to grow.