Western Dairyland Business Centers BUSINESS INCUBATION IN RURAL COMMUNITIES INCUBATORS WTHOUT WALLS Renee’ Walz, Business Development Director.

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Presentation transcript:

Western Dairyland Business Centers BUSINESS INCUBATION IN RURAL COMMUNITIES INCUBATORS WTHOUT WALLS Renee’ Walz, Business Development Director

Western Dairyland Business Centers SOME GENERAL INFO…. Our Business Center started with a ½ time staff person in 1990 We now have 6 full-time staff providing technical assistance in a 3500 square mile service area

Western Dairyland Business Centers SOME GENERAL INFO…. We have 1 “metro” community Since 1993, we have been involved in the start-up of over 325 businesses that have created over 550 jobs in our rural communities

Western Dairyland Business Centers DETERMINING THE NEED We started by asking our area lenders…. What kind of help do start-up and expanding businesses need? Where are they getting help now? Are you interested in helping us grow?

Western Dairyland Business Centers THE ANSWERS….. They need help determining if an idea is feasible They need help putting together a business plan They need management assistance that doesn’t stop after the business has started.

Western Dairyland Business Centers WE GREW A STEP AT A TIME…. We started by providing one-on- one technical assistance in: Determining feasibility and business planning The actual writing of the plan and financial projections

Western Dairyland Business Centers ALWAYS BASED ON A DEMONSTRATED NEED…. They wanted marketing assistance Assisted with the development of brochures, business cards Copies made at the office They needed help with collateral Lead to the development of a network of 14 lenders and a loan guarantee fund

Western Dairyland Business Centers ALWAYS BASED ON A DEMONSTRATED NEED…. They needed access to computers and technology Lead to the development of a computer lending library. They needed access to new markets Lead to the development of

Western Dairyland Business Centers OTHER EXAMPLES… SHAWNO “BEST U” A great example … a collaboration between the Chamber, the Technical College and others…. CHAMBERS – STARTING COMMUNITY TEAMS FOR TRAINING AND TA Some issues with confidentiality

Western Dairyland Business Centers FUNDING POSSIBILITIES…. USDA Rural Development WI Department of Commerce Local / Regional Foundations Corporations that may benefit from new businesses created ( Xcel Energy, Electric Coop’s )

Western Dairyland Business Centers QUESTIONS… THANKS FOR COMING!!!