November 4, 2003

The Lynn Small Business Assistance Center (SBAC) is playing a vital role in economic development by harnessing resources and ensuring small companies have the support necessary to succeed.

Located at 39 Central Square, it offers facilities and free or low-cost business development programs and technical assistance to entrepreneurs, newly established businesses and those already entrenched in the city's downtown.

Small businesses are a key part of the national economy and the U.S. Small Business Administration (SBA) helps ensure they receive assistance.

The SBA recently observed its 50th anniversary by celebrating the accomplishments of small business owners across the country.

According to Lynn SBAC director Doug Stevenson, activities planned for this fall include a business law workshop, a business tax workshop and monthly meetings of the Lynn Area Women's Network for Entrepreneurial Training (WNET), a group that meets at the Lynn Area Chamber of Commerce.

According to the national SBA, the agency has provided assistance to small business entrepreneurs more than 20.3 million times since it was founded 50 years ago, including loans, surety bond guarantees, counseling and training sessions, venture capital, disaster loans, contracts and other forms of assistance. The total financial assistance has amounted to $232.9 billion dollars in loans and venture capital financing to small businesses, many of which - Apple Computer; Nike, Federal Express and Intel are a few- have grown to become some of the largest enterprises in the world.

"SBA's 50th Anniversary gives us a perfect opportunity to reflect on our history and to plan innovative methods to better serve entrepreneurs," said Elaine Guiney, Massachusetts SBA director.

"SBA's successful partnership with the Lynn Small Business Assistance Center is proof that expanding our network to include community-based organizations is an excellent way to reach out to small businesses and aspiring entrepreneurs."
The SBA has enhanced Lynn SBAC's capabilities by donating computers, software and the time of its employees to the organization.

SBAC facilities include a computer lab and resource library open to the public.

The Service Corps of Retired Executives (SCORE), another SBAC partner essential in broadening the organization's scope of services, offers one-on-one business counseling services by appointment on Tuesdays and Thursdays at the Lynn SBAC office.

SCORE, a national program with chapters throughout the country, matches experienced executives with business owners or aspiring business owners.

"I counsel on everything that has to do with business," said Herbert Marcus, a SCORE counselor from Marblehead and retired proprietor of a Harvard Square jewelry store, who counsels in Massachusetts and Florida. "I have experience from owning my own business for 30 years but also from the experience I've gained from counseling all types of people."

Other SCORE counselors, like Alvah Parker, are still active in the work force.

Parker is a personal and business coach and founder of Parker Associates.

"I love what I do. I help people to make a decision on what they want. Most people know the answers, sometimes you just have to reach inside and make it come through," she said.

Parker, who donates one day a month to counseling for SCORE, noted that the organization is seeking more women counselors.

"A lot of women are starting businesses and we see a lot of female clients (at SCORE)," she said.