About the same time the North Carolina Biotechnology Center was established, MBA students at Duke University's Fuqua School of Business began offering help to small businesses in the Triangle area that couldn't afford to pay the typical fees of consulting agencies.
Now, 25 years later, Fuqua students have helped more than 300 local companies -- including many biotechnology start-ups -- with accounting system improvements, financial analysis, diagnosing management problems, inventory control, operations, information technology, improving company Web pages, market surveys to develop market strategies, human resources and manufacturing.
Through the Fuqua Small Business Consulting program, MBA students can take a course for credit to help companies solve their business problems. From now through Aug. 31, Fuqua is accepting applications from small businesses, including non-profits, for the fall 2008 consulting program.
Participating students select those clients that best match the experience, interests and abilities of the consulting teams. The students begin the consulting project in October and hold about five or six meetings with the client through April.
Fuqua's executive-in-residence, William Sax, who directs the program, regularly reviews the students' progress until they successfully complete the project with a formal oral and written presentation for the client. Every student signs a letter of confidentiality before the consulting engagement begins.