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How small businesses can make a big impact with W. P. Carey

Through initiatives such as the SMB Lab and continuing education programs, W. P. Carey helps small businesses reach their highest potential.

Kasey McNerney

2025-08-11

The concept of corporate partnership may sound like it only benefits large, national, or multinational organizations with hundreds of employees and multiple locations. But any business, no matter how big or small, can benefit greatly from partnering with business schools and research centers.

At ASU’s W. P. Carey School of Business, we are dedicated to finding innovative, creative ways to help all businesses, including small businesses, succeed and reach their highest potential.

"What sets us apart is our ability to bring the depth and expertise of a top-ranked business school to organizations of all sizes without using a one-size-fits-all approach," says Raghu Santanam, senior associate dean for executive education. "We’re proud to support both Arizona-based and national companies, helping teams grow, retain top talent, and prepare for what’s next."

Center for Small and Medium-sized Businesses

W. P. Carey created the Center for Small and Medium-sized Businesses (CSMB) to better support small and medium-sized businesses (SMBs), which are "the engine of the economy," according to Gopalakrishnan Mohan, senior associate dean of faculty and co-founder of the SMB Lab.

The Center partners with SMBs to tackle real-world challenges using data, strategy, and university expertise. These include website development, marketing, supply chain, analytics, financial planning, and even mentorship.

The center also hosts networking events for small businesses, giving business owners a chance to connect with others in the area, as well as promising graduating students from W. P. Carey.

This year marked the debut of the SMB Career Mixer, an event with the goal of connecting SMBs with top talent from W. P. Carey. Professor Hitendra Chaturvedi, co-founder of the SMB Lab, says, "With over 99% of all businesses categorized as small businesses in Arizona, it made sense to create a channel that would benefit the community and the students. It did not make sense that we were just engaging with large companies when it came to recruiting for our students."

The event was a success, with over 100 students and nearly 35 businesses in attendance. Chaturvedi says multiple students received job offers after the mixer.

SMB Lab

Within the center is the SMB Lab, which brings small businesses together with faculty and students from W. P. Carey to help businesses come up with innovative solutions to the problems they face.

"I started the lab just after COVID, as I was observing how small businesses were suffering," says Chaturvedi. "Since I have been an entrepreneur in my past life, I could relate to the pain."

"You have to engage with small and medium businesses more deliberately," says Mohan. "When they were struggling during COVID-19, we said, 'How do we engage with them?'"

The lab brings together students, faculty, and local business leaders for collaboration and problem-solving in a structured environment. This is an ideal situation for businesses looking to grow or take advantage of new opportunities.

One such business was Halo Ink, a printing shop located in Phoenix. The company's owner, Jeff Hale, came to W. P. Carey looking for help with his sales process. After working and brainstorming with faculty and students at the school's SMB Lab, Halo Ink increased its workforce, launched a new website, and upgraded its equipment. "I have volunteered for eternity to be a part of the SMB Lab because of the value that we've received from it," says Hale.

"Ideal partners aren’t necessarily the most polished or resourced," says Meghana Sridhar, academic professional for the School of Technology, Innovation, and Entrepreneurship (TIE), which houses the center and the lab. "They’re founders, entrepreneurs, and small business leaders who are curious, committed, and willing to work alongside students and faculty to explore meaningful solutions."

The students and faculty working in the lab benefit from the experience as well. "Students get real-world experience from the brainstorming session in the lab, and as part of projects coming out of the lab," says Chaturvedi. "We call it experiential learning through projects coming out of the lab…. Faculty benefit, as now we are collecting expansive data from the lab that can kickstart world-class research."

For businesses that may not be ready or able to commit to the full SMB Lab experience, the center also offers a Mini Lab, which is a more informal session for brainstorming and collaboration.

Beyond the lab

Support for small businesses extends far beyond the CSMB and SMB Lab. All of the W. P. Carey School’s vast corporate resources are available to businesses of all sizes, not just national or multinational corporations.

If a small business is looking to provide additional education or training for its employees, or if it's trying to recruit the next generation of talent, W. P. Carey is here to help.

Continuing education

Unique offerings from W. P. Carey Executive Education and AZNext help businesses big and small prepare for the future through mastering new skills.

"At W. P. Carey Executive Education, we recognize that small- and medium-sized businesses are the backbone of the economy," says Santanam. "They often face unique challenges when it comes to talent development, upskilling, and staying competitive in a rapidly changing market."

"I completely understand the hesitation when you’re running a small or growing business, time and resources are stretched, and training can feel like a luxury,” he adds. “But in reality, it’s one of the most strategic investments you can make."

Popular programs for small business owners include the W. P. Carey Certificate in Service Experience Management and the W. P. Carey Certificate in Small Business Management. The school is also launching a new half-day intensive program in Managing Customer Service Excellence in Small and Midsized Companies. Executive Education programs are flexible to suit each business's needs and can be taken in person, online, or in a hybrid format.

Recruiting top talent

W. P. Carey is also a powerful resource for businesses looking to recruit top talent. The Employer Engagement team at the W. P. Carey Career Services Center will work directly with a small business to learn about their hiring needs and explore how the school can best help them recruit.

Resources for employers include job postings on the Handshake job board — which helps recruiters reach a large number of applicants — and attending career fairs, mixers, and other networking events on campus for face-to-face time with students.

Raising funds and growing new ventures

In addition to innovative problem-solving, continuing education, and recruitment assistance, W. P. Carey also supports entrepreneurs and founder-led businesses through the school’s Center for Entrepreneurship and New Business Design. The center provides funding opportunities, mentorship, and support for students, staff, faculty, alumni, and the community.

The center is home to various initiatives, including the W. P. Carey Accelerator program, which provides a tailored experience over the course of two semesters. Designed for founders pursuing investments of over $1 million, the program matches participants with mentors and investors to help them improve their venture. The experience culminates in a final pitch event. ASU-affiliated entrepreneurs, including undergraduate and graduate students, faculty, staff, and postdocs, are encouraged to apply.

Partnerships Entrepreneurship