About Us
FAQs
Q: Why did you change your name from the SBDC to the Center for Economic Vitality?
A: We had grown too big for the name. The word “small” just didn’t fit us anymore. Only our name changed. Our services remained the same. While we started out as an outreach program for local businesses at Western Washington University’s College of Business & Economics, today we have grown to also serve as an important partner with local governments, other economic development service providers and our clients in driving economic growth across the Pacific Northwest
Q: What does the Center for Economic Vitality do?
A: Core services:
Q: How do I make an appointment?
A: Call 360.733.4014 to schedule a no-cost appointment with one of our business strategists.
Q: What is Economic Gardening?
A: Economic Gardening is an economic development strategy that was first developed and coined by Chris Gibbons from the City of Littleton, Colorado in the mid-1980s. In this approach, secondary market research is used to retain and expand existing businesses, as opposed to spending resources to attract new businesses to a community.
Western Washington University's Center for Economic Vitality's research services incorporates this model to support the retention and expansion efforts of business throughout Whatcom County and across Washington State. Leveraging University resources, we are able to provide synthesized and actionable business intelligence that most business owners do not know about or have access to. The CEV is home to one of the most productive Economic Gardening programs in the United States based on our impact numbers.
Q: Why do you charge for special projects when the business counseling is free?
A: In reality, the business counseling is not free. Counseling is actually being paid for by our funders (Port of Bellingham, City of Bellingham, City of Ferndale, City of Blaine, City of Lynden, City of Sumas, and Whatcom County) on behalf of local business owners who get our services at no cost. Special projects are done on an on-demand basis for governmental agencies and municipalities across Washington State. Since we do not have funding to offer those projects at no-cost, we can only complete them on a fee-for-service basis.
Q: Can I get a grant to start my business?
A: There are no grants to help start businesses. A grant is a direct financial contribution made without expectation of repayment. Grants may be available from family members or friends. But organizations that give grants have criteria to meet. If it sounds too good to be true, it probably isn’t, comes to mind when talking about the availability of grants to start a business. While the CEV doesn’t loan or give away money, we can help you prepare for attracting and sourcing funding.
Q: Does the SBA loan money?
A: The SBA works with banks and other financial institutions to make it easier for business people to get loans. The only exception to this is for existing companies in a Federally Declared Disaster Area. The CEV counsels business owners and entrepreneurs and will assist owners in improving business plans and loan applications, but the CEV does not loan money.
Q: Why do I need a business plan? Can the CEV prepare one for me?
A: A business plan is like a road map that guides you on a journey to a destination. It also tells others such as a prospective lender or landlord that you have a concise plan that explains the “how” and the “why” your business will be successful (financially and otherwise). A business plan is a useful tool for measuring periodically how you have been doing and what needs to be altered or enhanced when going forward. While the CEV can’t prepare a plan for you, we can offer you assistance with designing, editing, and supplying financial projections.
Q: How do I prepare a business plan?
A: When writing a business plan you need to analyze the following:
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What strategic changes will you make?
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Are there new markets you plan to enter or new products to introduce?
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What marketing strategies will you use?
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What labor requirements will be needed to accomplish your goal?
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Are there capital purchases you need to make?
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What are your cash needs (working capital) to implement these strategies and run the business?
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Will you need outside financing?
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How do you plan to communicate your goal and objectives to your employees, spouse, and supporters?
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What is the optimal timing for purchases, expansion, or contraction?
All these issues are addressed in your business plan developed for your own use. For more information and templates see “Business Plans” in the Business Resources section located on our Web site.
Also see: Counseling FAQs, Economic Gardening FAQs, and Special Projects FAQs.