 Joel Smiley, executive
director of the Lincoln & Logan County Development Partnership,
spoke to 50 leading citizens and local government officials during a
brief ceremony.The center will be a business incubator that will
foster the growth of new business in Logan County.
This incubator concept allows startup companies to reduce costs
through a three-year rent-reduction program. Applicants for the
program will qualify by going through the
SCORE process, which
includes the development of a business plan and budget.
By having locations spread throughout Logan County, this program
will be able to accommodate a variety of space requirements ranging
from high-tech to manufacturing.
Sonnie Alexander, co-chair of the committee that was able to get
the incubator off and running, is one of only two trained SCORE
representatives in Logan County. Alexander said that the goal of the
Center of Success is to create 100 new jobs annually countywide.
While speaking, Smiley said this could mean that businesses as
small as needing 100 square feet of office space all the way up to a
manufacturer needing 100,000 square feet could receive the resources
of the center.
Smiley explained the services the
center will be able to supply for startup businesses:
-
Facility rental at
a reduced rate for three years: first year, 50 percent, second
year, 30 percent; third year, 10 percent
-
SCORE assistance
-
Assistance with
financing
-
Lincoln/Logan
County Chamber of Commerce membership
-
Training resources
-
Advisory council aid: insurance,
accountant, attorney, banker
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The statistics showing the marked difference between new businesses
that receive professional guidance and those that don't indicate how
important such a program can be to the health of a startup business.
-
An estimated
627,200 new businesses began operations in 2008, and 595,600
businesses closed in 2008.
-
Most small
businesses do not survive to their fifth anniversary; only 44
percent make it past four years.
-
Seven out of 10 businesses will last
only two years.
Smiley pointed out that businesses that use business incubators
have an 87 percent survival rate after five years.
Jan Schumacher, representing the Logan County Board, said that
when she hears the word "incubator," she thinks of small babies
receiving special care in a controlled environment. She likened the
need of a new business to also receive the special attention needed
to get started on a healthy track.
Mayor Keith Snyder said: "This couldn't have come along at a
better time. If you have a dream, a passion, then you belong."
Alexander told the crowd that the center's new Web site is up and
running at
www.centerofsuccess.org.
You can also find out more information by calling Joel Smiley at
217-732-8739.
[Information from
Center of Success;
LDN] |
