Students mentor local entrepreneurs

Wharton students searching for consulting experience do not need to look any further. The Wharton Small Business Development Center, a firm dedicated to the needs of small businesses, employs a group of consultants whose main function is to aid entrepreneurs. And many Wharton students are part of this endeavor. The SBDC's new director, Clark Callahan, is working to help new businesses grow and expand. "You think of a challenge a small company will come up against and we're here to overcome it," he said. Fourth-year Wharton and Law School graduate student Gordon Walton, an SBDC consultant, said his advice helps entrepreneurs who have little business savvy. "You're someone with a lot of training helping a person with limited business experience," he said. "The incremental value that the SBDC provides its clients is enormous." Callahan plans to expand the firm's clientele by working with a greater number of West Philadelphia companies. He said he wants to create a set of business services that start-up companies may need to survive in their early stages. Callahan also said he is interested in helping companies dependent on military contracts adjust to economic conditions resulting from the closing of military bases. The SBDC employs 16 MBA students and four undergraduates as consultants. "The students are responsible for delivering the services," Callahan said. The student consultants each work in one-year rotations beginning in January and May. They help companies by offering phone consultation or meetings with the entrepreneurs. Each student also teaches a management training seminar in such areas as business planning and the legal aspects of starting a new company. Second-year Wharton graduate student Cynthia Grise said she believes her work with the SBDC has helped her a great deal. "Acting as a consultant is a great way to enhance the skills we learn in classrooms," she said. Walton said his experiences have given him greater insight in the workings of a successful small business. "It gives me exposure to a lot of different companies and [provides me with] ideas into what makes small companies succeed or fail," he said. "As a [future] entrepreneur, that's what I'm looking for." Founded in 1980, the SBDC provides management training and consulting services to small-size companies in Southeastern Pennsylvania. According to Callahan, the Center gives advice and teaches their client companies important skills. He added that his goal is for the companies to learn new skills quickly and efficiently. The SBDC helps companies find new markets, reach more customers and creates strategies for companies to raise money. It aids businesses with such problems as bank loans.