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Small
Business Banking
Small businesses across the commonwealth rely on the
services of the Department of Business Assistance and
the network of Small Business Development Centers. Whether
funded by the state or by local universities or other
business entities, these organizations provide the necessary
tools for businesses of all sizes — from fledgling
entrepreneurs to top employers. As part of our focus
on small business in Virginia, Publisher Doug Forshey
sat down with the directors of each of these statewide
entities to get a better understanding of their role
in Virginia’s economic development.
Related
links:
- Q&A with Jody Keenan,
Director
of the Virginia Small Business Development Centers program
- Directory of Small Business
Development Centers
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Department
of Business Assistance
Chuck Mills
Agency Director
Born:
St. Louis, Mo.
Education: Naval Academy, Annapolis, Md.
Prior jobs: Helicopter pilot, investment
banker, entrepreneur
Current residence: Loudoun County
Chuck
Mills is the agency director at the Virginia Department
of Business Assistance. The DBA is the economic
development agency devoted to the growth and success
of the commonwealth’s business community.
Established by the Virginia General Assembly in
July 1996, the department rounds out the commonwealth’s
economic development program by ensuring that
businesses not only find Virginia a good place
to locate, but also an ideal place to grow, expand
and make additional investments.
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Q:
Briefly describe your mission.
A: Specifically it is an economic development agency
whose primary job is to promote economic development
and growth in the state of Virginia by helping our existing
businesses grow. To accomplish that we do a number of
things, including business counseling, research assistance,
access to capital, work force development and incentives,
small business incubator support and networking opportunities
via quarterly seminars.
Q:
What role do you see the DBA playing in the eventual
economic recovery in Virginia?
A: There is no doubt there will be a recovery. Everything
goes in cycles so there is no question there will be
one. As a state agency we think it’s important
for us to focus on the area where we can get the greatest
leveraging point. That point is the area of Virginia’s
economy where most businesses reside — the small
business area. In fact, 97 percent of all businesses
in the commonwealth have less than 100 employees.
We find that businesses that are indigenous to their
local communities are the true economic engines for
the commonwealth. We also find that when times get tough,
these are the businesses that strap on their helmets
and boots and stick it through. That’s where the
economic recovery is going to start, so it’s important
that we hone in and support them.
Q:
Is the focus of the DBA these small businesses?
A: Well, I wouldn’t say that it’s the
focus. It is also important that we cherish the larger
businesses that are keenly important to Virginia. Without
them there wouldn’t be vendor opportunities for
our smaller businesses.
Q:
How do you measure the DBA’s success?
A: At the end of the day our job is to increase
the tax base for the residents of the commonwealth.
That’s what economic development is all about.
As a business agency we do that by accelerating more
assistance to that business community. For example,
in our Existing Business Services group we had a 300
percent increase in requests year over year. In our
Workforce Services area we had an increase in the number
of folks trained of more than 48 percent. In our Financial
Services Division — which provides access to capital
— we had an increase in the total dollars funded
of 227 percent. Our Small Business Incubator program,
although cut during the last round of budget negotiations,
was able to take its $510,000 program budget and match
that with $2.2 million in local and private investment
dollars.
One of our short-term goals is we recognize that Virginia
is only as good as its weakest link. And we want to
be a little more inclusive with our services so that
every community has total access to all our programs.
We need to get the word out to aspiring entrepreneurs
and existing businesses, so that when they think about
accessing assistance from a government entity, they’ll
think, “Let me talk to the DBA.”
Q:
What are the greatest challenges to the DBA in the coming
year?
A: We took a major budget cut this year — 40
percent — which is a little bit more than some
other agencies, but it’s part and parcel of what’s
happened to many government entities over the past year.
The budget cuts have forced us to go back and reevaluate
everything we do. What’s resulted from that evaluation
is that, primarily through the use of technology, we
have been able to go back and redesign some programs
that we think needed a second look anyway. For instance,
our Virginia Business Information Center, the new one-stop
portal with an 800 number, e-mail and fax information
delivery system. We’re able to serve more businesses
with less man-hours. It’s one of the reasons we
had a 300 percent increase in requests for assistance.
Also, our Small Business Research Center was the outcome
of our realization that the small business community
was in dire need of understanding how economic cycles
work and in need of customized research.
Return
to Virginia Business - September 2003
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