New Business Incubation
New Business Incubation
Business incubators are organizations geared toward speeding up the growth and success of startup and early stage companies. Incubators vary in their strategies. Some are located in an actual physical space meant to foster networking among entrepreneurs and their coaches. Others operate on a virtual basis. Bethel combines the best aspects of both models to service early stage businesses on the West Side.
Through this New Business Incubation program, Bethel provides direct support to up to five new businesses each six month period. These businesses receive office/operating space at well below market-value rates, support from Bethel’s business counselors within our Small Business Development Center, and access to specialized seminars and activities. The goal of the program is to provide the greatest likelihood of success for the launch and sustainability of these businesses.
Click on the links below to read profiles on some of our incubator participants:
Miki Riley – Accessories Me
If you have any questions on New Business Incubation, please contact firstname.lastname@example.org or 773-473-7870 x136.
Neighborhood Business DevelopmentCenter
Bethel New Life recently launched a new Neighborhood Business Development Center (NBDC) with funding from the City of Chicago’s Business Affairs & Consumer Protection Department. Small businesses are the lifeblood of the Chicago economy, responsible for half of the city’s workforce and serving as community anchors in neighborhoods across the city. To better support small businesses in all of Chicago’s neighborhoods, the City of Chicago recently launched a strategy to continue to cut red tape, build the capacity of neighborhood resource centers, and expand neighborhood-based business support. The NBDC program is a key component of this strategy.
As a delegate agency in the new NBDC effort, Bethel will be providing support to 25 businesses on Chicago’s West Side that display high growth potential through its West Side Business Xcelerator initiative. This program will offer the following services to the qualified companies it supports:
• Technical Assistance
• Connecting To Financial Resources
• Connections To Corporate Supply Chains
• Business-To-Business Networking Opportunities
• Workforce Development Assistance
Since its launch in January 2014, Bethel has invited 7 businesses into the program and is aggressively vetting new businesses to add. And with its unique expertise in supporting business development in underserved communities, Bethel has also been tasked with providing thought leadership insights to other NBDC’s in the network. This will include developing whitepapers and presenting on best practices that other program providers can emulate.
To contact Marvin Austin about our NBDC program, click here.
To learn more about the City’s Neighborhood Business Development Centers, click below.