SBDC focuses on better economic planning of individual businesses

Citing the importance of an orderly fiscal house in the ability of small enterprises to brave external financial upheavals, the U.S. Small Business Administration is seriously looking at launching programs geared at improving economic planning of individual businesses here.

This developed as officials from the U.S. -SBA based in the University of Guam flew in to Saipan to spearhead the selection panel which will evaluate applicants for the three vacant positions in the Small Business Development Center under the Commonwealth Development Authority.

Members of the selection team, which interviewed applicants at the CDA office in Gualo Rai yesterday, included Pacific Islands SBDC Network Director Jack Peters and CDA Executive Director Marylou S. Ada.

SBA officials want a maximum of three business experts to manage the CDA-administered SBDC, including the program director and a small development counselor who will provide professional expertise to CNMI entrepreneurs.

The CDA-administered SBDC is a subcenter of the Pacific Islands network which is funded and sanctioned by the U.S.-SBA to serve the Western Pacific Region.

The CNMI SBDC program is part of the SBA’s SBDC Program consisting of 58 nationally-recognized networks with over 1,400 affiliated subcenters and satellite offices.

The Development Authority intends to hold business workshops and seminars in partnership with the Hotel Association, the Saipan Chamber of Commerce, the Saipan Garment Manufacturers Association and the Northern Marianas College.

SBA has re-channeled the funding previously allocated to the center under the management of the Northern Marianas College to the Development Corporation of the CDA.

CDA Board Chair John S. Tenorio said the Memorandum of Agreement which will pave the way for the official takeover of the development authority over SBA’s SBDC is expected to be formalized by next week.

Mr. Tenorio bared plans to administer programs under the Small Business Development Center in close partnership with major business organizations in the Northern Marianas.
CDA intends to hold business workshops and seminars in partnership with the Hotel Association, the Saipan Chamber of Commerce, the Saipan Garment Manufacturers Association and the Northern Marianas College.

He said SBDC under the government’s major lending arm will try to reach out to more clients through seminars and workshops focused at identifying the types of business activities that are likely to rake profits, as well as labor and immigration concerns.