Denmark Technical College and the U.S. Small Business Administration have signed a Strategic Alliance Memorandum (SAM) that will strengthen and expand small business development throughout the local area.
In accordance with the SAM, Denmark Tech and the SBA will develop a working relationship through their common mission of helping to start, maintain and expand small business throughout DTC’s rural service area.
“Denmark Technical College and the U.S. Small Business Administration both have a wealth of resources that, in and of themselves, make powerful contributions, but when we collaborate our impact will be exponential. It’s a classic case of the whole is greater than the sum of the parts,” said Dr. Willie L. Todd, Jr., president and CEO of Denmark Tech.
Through the agreement, the SBA will foster collaboration between Denmark Tech and the SBA’s resource partners such as SCORE, the Small Business Development Centers and the Women’s Business centers, invite DTC to SBA sponsored trainings, provide speakers for workshops and share advice on how to best make an impact.
In turn, DTC will aid in the dissemination of information to the local community and will diligently work to find opportunities that help establish and strengthen small businesses in and around the Denmark Tech service area.
“One of the best ways to create wealth for individuals in rural areas is through the development of small businesses. Trades are a place where you can develop independent businesses that serve the community and sustain families. Denmark Technical College has a great opportunity to cultivate the entrepreneurial spirit,” said R. Gregg White, district director of the U.S. Small Business Administration’s South Carolina unit.
“Small business is the glue that holds local communities together, so it’s critical that we make it a priority to keep the established ones afloat, while encouraging citizens to move forward with developing new ones. Partnerships like the one between Denmark Tech and the SBA are a cornerstone in the revitalization of rural America,” added Todd.
According to a report issued by the SBA in 2019, small businesses account for 44 percent of the economic activity and 43.5 of the GDP in the US, are responsible for two-thirds of new jobs and lead the way in innovation across industry.
