UAFS announces structural changes to business support programs (Updated)

The University of Arkansas at Fort Smith announced Friday afternoon (June 12) a significant change in the structure of its “community-related entrepreneurial, small business, family business and economic development activities.”

All of the functions beginning July 1 will be managed out of the College of Business on the UAFS campus.

"We will be the go-to place for information on local, state and federal business start-up and assistance resources,” UAFS Chancellor Paul Beran said in a statement. “We will provide an information-rich environment for start-up businesses, potential entrepreneurs, existing companies and family-owned enterprises and collect, analyze and disseminate information related to local and regional entrepreneurial, economic and business activities.”

Included in this structure change is the Innovation and Entrepreneurship Center, formed in early 2007 and funded by the UAFS, the city of Fort Smith and the Fort Smith Regional Chamber of Commerce. Michelle Stockman, who was hired in April 2007 as the first IEC director, resigned in November 2008 when hired by Little Rock-based Arkansas Capital Corp.

Beran and the other IEC partners found it difficult to find a new IEC director. A finalist for the position rejected in mid-April a salary offer.

NEW STRUCTURE
According to UAFS, the Center for Business Research and Economic Development (CBRED), the Innovation and Entrepreneurship Center (IEC) and the Family Enterprise Center (FEC) will be part of the College of Business. The Arkansas Small Business and Technology Development Center (ASBTDC) functions will become the Division of Small Business Assistance (DSBA) and will report to the IEC. All the functions and activities of UA Fort Smith’s former ASBTDC will continue to be offered.

Kermit Kuehn was named director of the CBRED, Nick Remy was named the new IEC director, and Dave Robertson will continue to head the FEC.

Steve Williams serves as the dean of the UAFS College of Business.

The university noted in its statement that the restructuring will allow it to “better serve as the essential partner in the region’s economic development by supplying ‘one-stop shopping’ for business research, developmental support and community outreach activities” in the region.

UPDATED INFO: Paul Harvel, president of the Fort Smith Regional Chamber of Commerce, likes the new structure.

“I fully supported it when Dr. Beran explained it to me. … The College of Business is really where all that needs to be,” Harvel said. “What they are doing is going to be very important to the chamber.”

Stockman, the former IEC director who now helps implement entrepreneurial programs statewide, offered kudos for the consolidation.

“From an outside perspective, this structure makes sense and I’m glad to see the university going in this direction. Nick (Remy) will be a good addition to the IEC. He has the passion and the local background to be a great IEC director,” Stockman said.

(Link here to read a more detailed report on Beran’s thoughts on entrepreneurship support.)