URI_Research_Magazine_Momentum_Spring_2016_Melissa-McCarthy

RISBDC’s Edward Huttenhower and Manuel Batlle, with Reymond’s Brother Tailor Shop, Cranston, RI, owners Alba Baez and Ruben Ogando.

The counseling services that the RISBDC provides help businesses and manufacturers of all types and sizes, from one-person businesses, to mom and pop operations, to businesses that employ 100 people. As long as the business meets the SBA’s size standards (up to 500 employees in most cases), for a small business, they are eligible to take advantage of the RISBDC’s services. The center will have more great projects in the coming year. Cooperation has begun between the center and a value-added food incubator, Hope & Main, located in Warren, RI, which promises to be a fruitful and innovative endeavor. The RISBDC will add new staff members in 2016, enabling the center to better reach underserved areas of the state. In the long-term, accreditation of the RISBDC network from its national association is under way, as is obtaining additional external funding to continue the center’s commitment to serve Rhode Island.

The RISBDC worked with the company through each step of the process, helping to develop and refine financial projections, translating financial jargon and investor-speak, and ultimately, giving the owners confidence that they have developed a strong foundation for growth.

“While the RISBDC focuses on small businesses, its impact remains large,” Huttenhower says. “The work that the RISBDC does enables the state to have a more vibrant small business sector, which in turn, improves the whole state’s economy.”

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Spring | 2016 Page 53