Small Business Development Center honored by U.S. Business Administration

Keith Mothershed is able to keep his barber shop going strong with a business plan from the Toledo Small Business Development Center. The center was recently recognized as the best of its kind in the state. THE BLADE/DAVE ZAPOTOSKY Enlarge | Photo Reprints

Keith Mothershed never owned his own business before opening Making the Cut Barber Shop in South Toledo.

Although his professional background was in shipping and receiving, the Arkansas native hoped to open a shop that would provide a welcoming experience and top-notch service.

He turned to the Small Business Development Center in Toledo, and center Director Bill Wersell, to create a business plan that has kept his barber shop going strong for two years.

"He gave me a lot of resources of people to get in contact with," Mr. Mothershed said of Mr. Wersell.

The small-business center, housed in the Toledo Regional Chamber of Commerce, received a Service Excellence and Innovation Award last month from the U.S. Small Business Administration.

The award means the center, one of dozens of similar offices nationwide, was recognized as the top small-business center in Ohio and the Great Lakes region.

The center works with about 30 to 50 people a month. About 60 percent of those contacts own businesses; the remainder seek help with starting companies, Mr. Wersell said.

Business owners and aspiring entrepreneurs can receive assistance, such as help with writing a business plan, finding business funding, or analyzing a company's financial statements.

Mr. Wersell said the center has used an $80,000 SBA grant to pay laid-off marketing and finance professionals to provide consultations for small businesses. The idea is starting to be picked up by other small-business development centers nationwide, he said.

"It was a great opportunity for us at the SBDC to leverage their knowledge," Mr. Wersell said of the consultants.

The center also has worked with struggling companies to come up with financial plans that cut expenses and improve their cash flow. The center then helps those businesses negotiate with banks to refinance or modify business loans.

In one case, Mr. Wersell said, a construction business was able to reduce its loan payments by about $19,000 a month for a year, which has allowed the company to stay open.

Mr. Mothershed, who has received more general help from the center and Mr. Wersell, said he continues to get feedback from the center.

"He's been a real motivational figure, and kind of a father figure for me going through this process," he said.