The Arkansas Small Business and Technology Development Center congratulates Lynette West, the 2024 Arkansas Small Business Person of the Year. West owns and operates HealthWear Inc. in Jonesboro. The business sells medical uniforms and accessories through its store on Red Wolf Boulevard and online. Lynette had owned a stake of HealthWear for 10 years when she and her husband, Kent, took sole ownership of the business in 2023. The couple worked with Laura Miller of the Arkansas State University ASBTDC during the acquisition, continuing a long consulting relationship with Miller and the center ..read more

Several Arkansas innovators connected with federal agency representatives and local resource providers at the Little Rock stop of the America’s Seed Fund 2024 Road Tour on April 2. More than 100 participants heard about the upcoming funding opportunities offered by the 15 federal grant and contracting agencies that provide SBIR/STTR seed funding for the commercialization of technologies. The event also unlocked key resources available for SBIR/STTR applicants, including the technical assistance offered by Arkansas Small Business and Technology Development Center and event co-host Arkansas APEX ..read more

Every business venture needs a roadmap. Most entrepreneurs know what they want to do, but some have a problem putting their ideas into writing. The business plan is a way to get those ideas out of your head and onto paper. A well-crafted business plan is the foundation upon which successful businesses are built. It not only serves as a guide for you the entrepreneur but acts as a powerful tool to attract investors, lenders, and other stakeholders. A business plan should not just go on a shelf. Instead, it should be periodically reviewed and updated as the business grows. Getting Started ..read more

NWA Martial Arts Academy manager and instructor Michael Felix held a lifelong goal of owning his own studio. When the academy was offered for sale in September of 2023, Felix reached out to the Arkansas Small Business and Technology Development Center at the University of Arkansas. He wanted help assessing the value of the business and moving forward to purchase the studio. Mary Beth Brooks, business consultant and director of the center, worked with Felix to complete a financial workbook, financial projections, and a business plan to develop a loan package. The purchase of the academy was ma ..read more

In the heart of Clarksville, the aroma of freshly brewed coffee is in the air. Offering a new retreat for coffee lovers, Kurt Miller opened Diamond Drip Coffee Co. in December of 2023. In a welcoming atmosphere, locals savor more than just a cup of delicious coffee. Diamond Drip aims to brew connections and foster community spirit. “This was a dream for me for a long time. I’ve always wanted a coffee shop, and we wanted to create an experience that goes beyond your typical coffee shop,” said Miller. Kurt and his wife, Sondra, came to the Arkansas Tech University ASBTDC in July 2023 for guida ..read more

Jacqueline Phillips, a seasoned nurse with 28 years of experience, has embarked on a new chapter in her medical career by opening her own clinic. Phillips is an advanced practice registered nurse and family nurse practitioner. With a passion for healthcare and a desire to work independently, she started Phillips Medical Clinic in Fort Smith. “I really just wanted to work for myself,” Phillips explained, reflecting on her decision to venture into entrepreneurship. Her extensive background in nursing, coupled with her APRN and FNP-BC credentials, provided her with the necessary foundation to e ..read more

ASBTDC to Serve as Technical Assistance Provider for State Small Business Credit Initiative Over the next five years, the Arkansas Small Business and Technology Development Center based at the University of Arkansas at Little Rock will assist hundreds of the state’s smallest businesses with getting the capital they need. ASBTDC is pleased to announce that the U.S. Treasury’s State Small Business Credit Initiative has awarded $2 million to the center to assist small businesses applying for the SSBCI Capital Program and other small business funding. Through the SSBCI Technical Assistance Grant ..read more

Developing an innovative piece of technology is an incredible achievement. But determining its place in the market is a whole other undertaking. When applying for federal or state technology commercialization funding, being able to clearly define the market size and potential buyers for your innovation is a must. The market research services provided by the Arkansas Small Business and Technology Development Center can help. As part of our SBIR/STTR application development assistance, our team can help you navigate this process. Sizing the Market As you determine your product’s market, remembe ..read more

The OnRamp Fund is a new business loan program designed to address the barriers faced by many Arkansas small businesses seeking capital. OnRamp launched in November 2023. OnRamp is not a loan. Instead, it is a loan guarantee model for established small businesses in Arkansas owned by women, minorities, veterans, rural entrepreneurs, and socially and economically disadvantaged individuals who qualify. Businesses must have generated revenue for at least six months prior to applying. The program provides a 100% guarantee to lenders for OnRamp loans. If the business owner does not have an existin ..read more

Parlez-vous Français? From the time she was little, Bethany Meadows of Fort Smith knew she wanted to be a teacher. Meadows recently started French With Bethany, a language school that offers one-on-one virtual French lessons. “I have a lot of clients in Maine because it’s so close to the Canadian border,” she said. However, the students Meadows is most excited about are children – some as young as 2 years old. Meadows said the younger someone can learn a language the easier it becomes. “Kids’ brains are like sponges at that age. Their brain programmed to learn languages. People may think lear ..read more