Lt. Governor Sue Ellspermann has released the 2014 performance results for the Indiana Office of Small Business and Entrepreneurship (OSBE), its 10 Small Business Development Centers (ISBDC) and the Procurement and Technical Assistance Centers (PTAC) located throughout the Hoosier state.

In June 2013, the State established OSBE as a stand-alone agency within the Office of the Lt. Governor to align efforts in supporting small businesses and entrepreneurs, which for Indiana, create 64 percent of new private-sector jobs and employ 49 percent of the private-sector workforce. As tools to successfully support and expand such a large part of the workforce, the ISBDCs serve as regional assets for Indiana entrepreneurs and are the entry point into all services provided through OSBE. Often housed with their ISBDC counterparts, the PTAC staff assists businesses interested in contracting to provide goods or services to federal, state and local government agencies.

“When Governor Pence and I came into office, we recognized the need for a separate agency to serve as the state resource for all small businesses in every stage of development,” stated Lt. Governor Ellspermann. “In a short time, the Office of Small Business and Entrepreneurship has become an invaluable asset to Indiana assisting in the creation of nearly 1,600 full time jobs in 2014. The team plays an integral part in the Hoosier state leading the way nationally for small business growth and development.”

The ten Indiana Small Business Development Centers support the formation, growth and sustainability of Indiana’s small businesses by providing entrepreneurs expert guidance and access to a network of resources. Funding for the regional ISBDCs comes from the U.S. Small Business Administration, the State of Indiana, state universities, chambers of commerce, economic development offices, mayor offices and banks.

“The success for OSBE is measured by the effectiveness of programs under its management and its ability to bridge entrepreneurs with organizations engaged in supporting Indiana’s small businesses,” said OSBE State Director Jacob Schpok. “For 2014, the ISBDCs produced great successes in their numbers and accomplishments. We can confidently report every dollar invested in the ISBDC helped generate $31 in new capital for the clients; a 31 times return on investment.”

2014 ISBDC Numbers:

Total investments in small businesses: $111,375,246

One on one counseling hours: 16,205

New business starts: 215

Fulltime Employee jobs created: 1,393

2014 PTAC Assistance:

$81.8 million in federal government contracts
Representing an 861 percent increase from 2013

Indiana Small Business Statistics:

# of small businesses: 144,000
Small businesses employing 1 to 4 people: 72,000
# of Hoosiers employed by small businesses: 2.1 million
Annual revenue generated: $129 billion
23,000 startups employ 82,000 people