Regional SBDC Director Dr. Melissa Meidinger Shares “Entrepreneur’s Edge” on Northeast Radio SD

Northeast Radio SD News - Watertown, SD - Dr. Melissa Meidinger, Regional Director of the South Dakota Small Business Development Center (SBDC), recently appeared on Northeast Radio SD’s new program, “The Entrepreneur’s Edge: Dream. Start. Grow.” to discuss the comprehensive support available to local business owners.

Comprehensive Support for New and Existing Ventures

The SBDC provides professional, confidential, and free-of-charge consulting to help entrepreneurs make informed business decisions. Dr. Meidinger emphasized that while many entrepreneurs are driven by passion for their products or services, they often lack formal business education. The SBDC fills this gap by assisting with:

·        Business Plan Development: Guiding owners through writing a professional plan, often required to obtain capital.

·        Financial Projections: Helping clients understand pricing, gross profit margins, and long-term financial health.

·        Regulatory Compliance: Navigating the paperwork for LLC formation, EIN applications, and industry-specific health or sales tax licenses.

Impressive Regional Impact

The South Dakota SBDC operates six regional offices across the state, hosted by universities to connect academic talent with new business owners. In the past year alone, the statewide program achieved significant metrics:

·        Client Reach: Served over 1,000 clients statewide.

·        Capital Investment: Raised over $70 million in capital for entrepreneurs across the state.

·        Regional Growth: Dr. Meidinger’s specific 10-county region served 151 clients, resulting in 17 new business starts and $16.9 million in raised capital.

Strategic Advice for Success

Dr. Meidinger advised business owners to “invest in their own” by developing internal talent, noting that hiring within is often more effective than recruiting externally. She also stressed the importance of building an advisory board composed of experts in areas where the owner may lack skills, such as marketing or legal services.

“Asking for help is the bravest and smartest thing you can ever do,” Meidinger stated, encouraging entrepreneurs to “fail fast and fail forward” to learn from early mistakes.

For more information or to schedule a free consultation, entrepreneurs can reach Dr. Meidinger at 605-882-5115 or visit sdbusinesshelp.com.