BY BETTY JO LICATA
Interim Dean, Williamson College of Business
YOUNGSTOWN, Ohio – Small businesses are the backbone of the American economy, accounting for 99% of all jobs nationwide.
In the Mahoning Valley, their impact is just as significant. A large share of the workforce is employed by companies with fewer than 500 employees, highlighting the essential role these enterprises play in supporting local economic stability and growth.
Their success is directly tied to the health of families and communities across the region. Strong small businesses create a vibrant local economy, improve quality of life, and make the area more attractive for talent recruitment and retention. Many YSU graduates hope to build their futures close to home, which depends on the availability of competitive, professional opportunities.
Youngstown State University (YSU) and the Williamson College of Business Administration (WCBA) have a long-standing commitment to advancing economic development in the region. Through academic programs, faculty research, and business consulting services, the WCBA provides a steady pipeline of talent and expertise to local enterprises. Key support comes through initiatives like the Ohio Small Business Development Center (SBDC) at YSU, the Export Assistance Network (EAN), and the APEX Accelerator.
The WCBA prepares students to enter the workforce with practical skills and real-world experience. Each year, more than 260 undergraduates and over 300 MBA students graduate from the college, with many choosing to stay in northeastern Ohio.
The business curriculum is constantly updated to reflect industry needs, and over 230 students each year participate in paid, credit-bearing internships. These internships span over 150 businesses – 75% of which are located within the region – serving as an important bridge to full-time employment.
The WCBA’s Center for Career Management plays a crucial role in connecting students with internships and job opportunities while supporting employer recruitment efforts.
In addition to internships, students engage with companies through classroom projects that tackle real business challenges. These collaborations offer insights to companies while enriching students’ academic experience.
Faculty also provide support through consulting, workshops, and research in areas such as leadership, accounting, marketing, supply chain, human resources and cross-cultural management. Many faculty members integrate student-led consulting projects into their courses to maximize impact for both students and businesses.
Comprehensive business consulting is provided by three WCBA-based centers: The SBDC, EAN and APEX Accelerator. These centers offer a wide range of consulting services to hundreds of clients in a multicounty service area. The centers also support specialized internship programs designed to service their clients.
Contributions from the John D. Beeghly Family and the Schwebel Family Foundation enable student interns, known as Fellows, to work closely with businesses on strategic projects that help drive regional development. In addition, our Monus Fellows are interns with entrepreneurial ventures.
For more than 35 years, the SBDC, funded in part by the Ohio Department of Development and U.S. Small Business Administration, has delivered expert guidance on strategy, operations, finance, and HR to small businesses in Ashtabula, Mahoning and Trumbull counties. The EAN, supported by the development department, assists companies in 13 counties with export compliance, market research, and global expansion. Meanwhile, the APEX Accelerator helps businesses pursue and secure government contracts.
These efforts not only strengthen regional businesses but also provide students with transformative, career-defining experiences. This summer, 14 students are participating in the Ohio Export Internship Program and 15 in the Ohio Procurement Internship Program. Each program includes a 15-week academic course followed by a 12-week paid internship with an Ohio company. These initiatives are designed to equip students with specialized knowledge while directly supporting the operational needs of host companies.
The combined impact of the SBDC, EAN and APEX Accelerator is substantial – supporting startups, strengthening existing businesses, retaining jobs, boosting sales, and contributing to sustained regional economic momentum.
YSU’s Excellence Training Center (ETC) also supports the region’s growth by providing workforce training, performing applied research, and supporting local company’s commercial needs (part characterization, prototyping, etc.). With more than $10 million in high-tech equipment and online courses offered through the Skills Accelerator, the ETC is helping to develop critical skills in manufacturing and information/operational technology.
Most recently, the WCBA partnered with the ETC to host the Penguin Shark Tank competition, where six student entrepreneurs competed for $10,000 in prize funding across two categories: Existing Business and Business Idea.
The finalists presented ventures in retail, e-commerce, and marketing – demonstrating the growing entrepreneurial spirit among YSU students. Events like this encourage innovation, support student startups, and inspire graduates to remain in the region to grow their businesses.