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In these most difficult times, BARBERMURPHY Broker Associate Mike Pierceall continues providing real estate advice to start-ups and existing businesses in his voluntary capacity as a trusted affiliate partner for the Illinois Small Business Development Center (SBDC) for the Metro East at Southern Illinois University Edwardsville.

BARBERMURPHY is the largest commercial real estate brokerage firm in downstate Illinois, while the SBDC serves as an essential resource for struggling business owners.

Pierceall has presented during the SBDC’s monthly “Starting a Small Business” workshops on what to look for when searching for the ideal property in which to launch a business or expand an existing one. During the current COVID-19 pandemic, Pierceall advises SBDC clients as to how the timelines have changed regarding the real estate process.

“We do the best we can to help small business owners through the process of acquiring or selling a location,” said Pierceall. “Right now, due to COVID restrictions that title companies, banks and others are facing, it’s taking longer than usual to get deals done. We’re helping small businesses anticipate and plan for these delays, so they’re still able to meet their goals.”

Pierceall emphasizes that the SBDC is a gem of a resource to any small business owner, because it offers one-on-one expertise at no cost in areas such as writing or fine-tuning a business plan, preparing financials to take to a lender, cash flow management and more.

“The first thing start-ups and existing businesses should do is make an appointment with the SBDC and spend time developing their business plan,” he said. “They’ll want to be as detailed as possible with regard to real estate, including line items and projections for the cost of utilities, taxes and more.

“They’ll want to seek expertise from the SBDC and additional affiliate partners – such as an attorney, lender and CPA – and plan early for those considerations. Tap into the SBDC for value-added expertise from the network of professional relationships available to assist entrepreneurs and established business owners.”

SIUE SBDC has been busier than ever, according to Director Jo Ann Di Maggio May, assisting start-ups and operational small businesses in navigating tough waters in the wake of COVID.

“Business specialist Marti Wieland and I helped a lot of small businesses apply for the SBA’s Economic Injury Disaster Loans and the Payment Protection Program loans,” said May. “We spent more than 230 hours in complimentary one-on-one counseling sessions, helping small business owners stay abreast of the changing applications and requirements. Our records tell us that the SBDC helped clients gain a total of more than $1 million in federal assistance since the pandemic began.”

Providing expertise in how to pivot during these uncertain economic and regulatory times is often the crux of how the SBDC assists small business owners and solopreneurs,” noted Di Maggio May.

“Sometimes our expertise is pretty intuitive,” she said, “but to a weary and anxious small business owner, who is trying to navigate it all, it can be difficult to discern what to do next. We’re happy to serve as a third-party resource and another voice in the room to suggest strategies that the business owner might want to consider employing.”

One idea that recently surfaced during a counseling session, according to Di Maggio May, involved an established service business that was restricted from seeing clients at her storefront due to state of Illinois COVID policies. The business owner, who had been an SBDC client years earlier, reconnected with Di Maggio May’s office to seek assistance.

“As with many small businesses during this time, her business cash flow is restricted due to occupancy-related regulatory restrictions,” May said. “We worked to quickly connect her with the SBA, who helped provide her with CARES Act relief in the form of a 30-year, low-interest Economic Injury Disaster Loan. We also counseled her in effective cash management strategies and helped her institute her own policies, such as an appointment cancellation fee.”

Di Maggio May is intent on making sure all small business owners know that the SBDC is ready and willing to assist them routinely throughout the life of their business, not just during the start-up phase.

“We want to work with an entrepreneur and a small business for the whole life of their operation,” she said. “We can come in at any point and assist them. We want to be sure that small business owners have the SBDC on their speed dial and think of us whenever they have a need.”

The Illinois SBDC for the Metro East assists existing companies as well as new businesses headquartered in the nine-county Metro East region of Calhoun, Jersey, Madison, Bond, Clinton, St. Clair, Washington, Monroe and Randolph. It is a no-cost service to the community supported by the U.S. Small Business Administration, Illinois Department of Commerce and Economic Opportunity, and SIUE. 

   By aiding entrepreneurs and companies in defining their path to success, the SBDC network positively impacts the Metro East by strengthening the business community, creating and retaining jobs and encouraging capital investment. It enhances the region’s economic interests by providing one-stop assistance to individuals by means of counseling, training, research and advocacy for new ventures and existing small businesses. When appropriate, the SBDC strives to affiliate its ties to the region to support the goals and objectives of both the SIUE School of Business and the University at large. To learn how the SBDC can help your small business, contact the Metro East SBDC at 618-650-2929 or sbdcedw@gmail.com.