Small biz, big returns
Study shows UB CEL graduates outpace national trends
Research from the University at Buffalo reveals that the UB School of Management’s Center for Entrepreneurial Leadership has played a pivotal role in strengthening Western New York’s small business ecosystem.
Since 1987, the CEL has offered a variety of programs, from its flagship Core program to the M&T Bank Emerging Entrepreneurs program, now in its 21st year. These programs equip entrepreneurs with tools to grow revenue, create jobs and lead with confidence.
James Lemoine, associate professor of organization and human resources in the UB School of Management, teamed up with Briana Stenard, associate professor of management and entrepreneurship at Mercer University, to conduct a large-scale analysis of the CEL’s impact on business outcomes in the region. The findings, based on extensive data collection, present a striking case for the CEL’s effectiveness — especially in a post-pandemic economy.
Businesses that last
CEL participants report a nearly 90% five-year survival rate, compared to the 50% survival rate reported by the U.S. Small Business Administration. At the 10-year mark, CEL graduates show an 87% survival rate, compared to the national average of 30%.
Del Reid, CEL Core ’22, founder of 26 Shirts, credits the program’s collaborative environment with helping him navigate business challenges.
“This program gave me an opportunity to not only do a deep dive into challenges I'm facing, but also to learn from the experiences of fellow business owners,” Reid said. “The wealth of knowledge shared in the room was really invaluable.”
Davis
For Nicole Davis, CEL Core ’22, founder of Franci Jewelry, the community she built in the program was key to growing her business.
“The Core program took me and my business to the next level,” she said. “I’ve connected to so many people while learning how to be a good businesswoman. I know I will have these connections forever.”
Sustainable growth, not burnout
In a world where many entrepreneurs work grueling hours, CEL graduates report a healthier work-life balance. National surveys show more than half of small business owners work more than 50 hours a week. But 74% of CEL Core graduates work fewer than 50 hours — without sacrificing financial growth.
Aaron Partridge, CEL Core ’24, CEO of Double A Landscaping, said the program has helped him become a more effective and efficient leader.
“I didn’t think I had time for the Core program,” Partridge said. “However, by committing to Core, I’ve learned what it means to be a good leader. By implementing new techniques learned from my classmates and the expert speakers, I have already begun freeing up my time.”
Measurable growth and community impact
According to Lemoine’s research, 61% of CEL Core graduates report increased revenue and payroll. CEL alumni businesses average 31.4 employees — over 50% higher than the national average — contributing to more than 23,000 jobs created in Western New York. A conservative estimate puts the total economic impact of CEL graduates at $2.7 billion.
Shawn Buffum, CEL Core ’24, CEO of Orville’s Home Appliances, saw immediate returns on his investment.
Buffum
“I’ve been able to implement changes within my organization that have had an immediate and positive impact on our employees, owners and customers,” Buffum said. “This program should be mandatory for all locally owned companies with emerging leaders and all serious entrepreneurs.”
And the benefits extend beyond numbers. Jordan Stapf, CEL Core ’24, director of food and beverage at Chiavetta’s Catering Services, said the program transformed how he approaches leadership.
“This program has given me the ability and tools to work on my business rather than just work in the business,” Stapf said. “The connections I have made helped build a network of professionals who are always there to support me and each other.”
Built to last — and grow
“At the Center for Entrepreneurial Leadership, our programming empowers business owners to grow thriving companies that create jobs, strengthen our tax base and build a more vibrant region,” said Susan Steffan, executive director of the CEL. “We have an alumni base of more than 1,700 businesses – many of whom stay connected to the CEL for years, or even decades – and we’re proud to support the goals of business owners while investing in the long-term prosperity of our region.”
With outcomes like these, the CEL is more than just a hub for training programs, it’s a regional economic engine.
Sidorowicz
“CEL was the turning point in my career. The Core program gave me the tools, knowledge and confidence to grow Southtown Audio Video into the largest locally owned audio-visual firm in Western New York,” said Heather Sidorowicz, CEL Core ’12, president of Southtown Audio Video.
For local business owners considering their next step, the message from CEL graduates is clear: if you want to grow, lead and thrive, this is where you start.