SMALL BUSINESS OWNER ASSISTANCE AT UNM ANDERSON SCHOOL OF MANAGEMENT
August 22, 2014
The Small Business Institute works with both graduate and undergraduate students at Anderson School of Management who, guided by faculty advisors, bring an outside perspective to small business owners and nonprofit organizations in the Albuquerque area.
When it was time for Albuquerque’s Bosque School to write a three to five-year strategic plan, William Handmaker, the head of school, enlisted the assistance of the SBI.
"The school wanted the strategic plan to suggest how it could adjust to the state’s struggling economy and proceed with facilities improvements and efforts to build the school’s endowment fund," said Handmaker. "We wanted people to come from outside to give us critical feedback, and it was surprising how quickly the SBI students understood us. They asked good, insightful questions. Wherever we end up, we'll be a better institution for having gone through this process."
The collaboration with Bosque School is one example of how the SBI can provide businesses low-cost professional consulting assistance with projects such as marketing, strategic planning, financing, leadership, human resources and developing or updating a business plan. Anderson Assistant Professor Dr. David Cavazos, who led the student team, says this is a valuable service for all involved.
"The level of input from professors and the access to resources that no small business could afford, make the program an important resource for business and a learning incubator for students," said Cavazos.
The owner of a local Albuquerque recycling business, and a former SBI client, stated that he was pleased with his comprehensive business plan saying it would have cost him between $20 and $40-thousand to get the same services from a private consulting firm. The SBI students examined the cost and capital he needed to grow his business in a new location and provided him with a five year business plan.
Since the SBI's founding in 1978, it has assisted more than 700 businesses, including startups, expanding businesses, nonprofit organizations and family enterprises. This year, two of the SBI's projects received top honors at the national SBI 2014 Conference, making Anderson SBI one of the top Small Business Institutes in the nation.
For more information about the program or to submit an application visit https://sbi.mgt.unm.edu/ or contact SBI Director Stacy Sacco at 505.489.2311 or via email at firstname.lastname@example.org.
The Anderson School of Management at the University of New Mexico is dedicated to excellence in professional management education. At the Anderson School, faculty, staff, and students are committed to shaping the intellect and character of the next generation of business leaders, advancing the knowledge and practice of management, promoting economic development, and building a vibrant intellectual community that serves the highest and best interests of all our stakeholders.
The School was founded in 1947 and now offers more than a dozen concentrations at the BBA and MBA levels and is accredited by the Association to Advance Collegiate Schools of Business in the top 20% of business schools in the nation. The School is funded by the State of New Mexico and further support is generated by The Anderson School of Management Foundation. For more information, the public can visit www.mgt.unm.edu, email email@example.com, or call (505) 277-6471.
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