Meet the North Dakota SBDC: Your Resource to Start and Grow a Business

Tyler Demars, the Bismarck Center Director of the North Dakota Small Business Development Center, says you don’t need a detailed business plan or a clear financial picture of your business to meet with his team. He works with entrepreneurs who have exciting ideas for new businesses to help them make their plans more concrete. The best part is that the SBDC does it all for free.

“I really like helping folks and not charging them for it,” says Demars. “Our job is not to tell you whether your business idea is good or bad. Our job is to ground you in a good process resulting in more informed decisions about how to move your business forward”.

The SBDC does so much more than help entrepreneurs. It provides no-cost business advice to small to medium-sized businesses in all stages of their operations. It can help established companies expand and prepare founders to exit their companies through succession planning.

“If you run a business in Bismarck-Mandan, you owe it to yourself to get involved with the SBDC,” says Nathan Schneider, Vice President of Economic Development at the Bismarck Mandan Chamber EDC. “They offer countless resources that will help you learn, network, and grow.”

Get to know the SBDC and everything it does for businesses in the Bismarck-Mandan community. 

The SBDC Focuses on Four Key Areas of Development

Entrepreneurs and seasoned owners alike can benefit from working with the SBDC. The organization focuses on four key areas to foster growth and community throughout North Dakota:

• Market and industry research. Learn about your competitors, vendors, and opportunities in your target industry. This can help you build a stronger business plan.  
• Financial modeling and cash flow analysis. Check on the financial health of your business and take steps to increase its stability. 
• Exit and succession planning. Build your business so it can thrive without you in it. Consider the future of your operations and how you can grow your equity.   
• Connections. Meet vendors who can support your business and network with others in your industry who have overcome similar hurdles before.  

“We are generalists to all business owners who want our help,” says Demars. “We work with people who want to start businesses but don’t know where to begin all the way to very mature organizations.”  

Business Owners Can Schedule Check-Ups With the SBDC

As the Bismarck Center Director, Demars supports Bismarck, Mandan, and the surrounding 10 counties. The state-wide ND SBDC advising team is made up of 10 advisors serving every county in North Dakota. The program is housed at the University of North Dakota where advisors are supported and held accountable by SBDC leadership and administration.  

An estimated 60% of advising sessions are in person, and virtual advising is also available. Most business owners start their partnership with the SBDC with a 45-minute one-on-one session to get to know their business needs. From there, the SBDC team will refer them to additional resources and opportunities to support their goals.

For example, an entrepreneur who isn’t familiar with business taxes can attend a group event ahead of tax season. The SBDC can also connect them with a CPA who is used to working with new businesses.

The SBDC also encourages business owners to schedule annual audits to identify opportunities for growth and potential blind spots or weaknesses. This can help seasoned professionals keep their organizations stable.

“It’s kind of like a dentist appointment or annual physical for your business,” says Demars. “In most cases, business owners want to know they have healthy finances and are on the right track.”  

The SBDC hosts a variety of training events each year on different topics affecting the business community. Earlier this year, the SBDC discussed AI and what it means for businesses. 

Community Members Can Network at 1 Million Cups

Even if you are confident in the health of your business operations, the SBDC has an event for you. Every Wednesday morning, Bismarck-Mandan residents can attend 1 Million Cups, a national movement where entrepreneurs come together over free cups of coffee. Business owners pitch their ideas to potential vendors, customers, and investors to grow awareness about what they are doing. About 50 people attend each week, and the SBDC is looking to grow this networking event.

“We want more people to invest in small businesses,” says Demars. “1 Million Cups creates space for local business owners to invest in each other.”

You can follow 1 Million Cups in Bismarck & Mandan on Facebook to keep up with upcoming events. 

The SBDC Is Just One Resource for Bismarck-Mandan Businesses 

The SBDC is one partner of the Bismarck Mandan Chamber EDC, but there are plenty of other business resources you can work with. The EDC has strong relationships with the Entrepreneurship Centers of North Dakota, Impact Dakota, SCORE, and the North Dakota Women's Business Center, just to name a few.

“Bismarck-Mandan thrives because of our small business owners,” says Schneider. “They play such a pivotal role in the community and the EDC wants to give back by helping them as much as possible.”

Get involved in SBDC events today and follow the Bismarck Mandan Chamber EDC to stay connected to the community. We are excited to watch your business thrive.