Any Idea, Any Industry: Variety of Businesses Served by ASBTDC
July 20th, 2016 by Gwen Green
The variety of small businesses served by ASBTDC is almost limitless. When asked about his current clients, consultant Jarrod Norwood rattled off 12 different types of businesses – including a restaurant, landscaper, tire shop, salon, dentist, app developer, and custom furniture maker – before drawing a breath to think of others.
“One of the hallmarks of ASBTDC is we assist all types of Arkansas-based, for-profit ventures,” said Interim State Director Laura Fine. “The local businesses in your town are our clients or potential clients, from the Main Street mom-and-pop places to the tech startups.”
For reporting purposes, ASBTDC categorizes each client’s business using the North American Industry Classification System. NAICS has 20 main categories with numerous sub-specialties. For the first half of 2016, the top NAICS categories among the 1,059 clients ASBTDC served were
- Retail Trade, 16.9%
- Accommodation and Food Service, 12.7%
- Manufacturing, 12.5%
- Professional, Scientific, and Technical Services, 9.9%
- Other Services, 8.4%
- Health Care and Social Assistance, 6.3%
- Arts, Entertainment, and Recreation, 5.6%
Even in the same NAICS category, however, a wide range of businesses are represented. For example, a veterinarian and a commercial photographer both are part of professional, scientific, and technical services.
Norwood said he is able to assist clients from all sorts of businesses because they need the “same nuts and bolts.” He preaches revenues and expenses, business planning, and financial projections.
“They know their industry but not necessarily the business side. Usually, they are in a line of work where they enjoy what they’re doing, not accounting and cash flow,” Norwood said.