The District Digest Vol. 4 – Downtown Ideas to Put to Work

While you were busy making a difference in your hometown, you might have missed these thought-provoking reads.  Attraction, expansion and retention of businesses for your Main Street district is vital. It is also one of the most difficult things for a community to successfully accomplish. It takes hard work, planning and follow-through. Here is a dose of inspiration and education:

  1. Retention and Attraction Strategies for a Balanced Retail Sector – National League of Cities
  2. Chicago Proposes Experiment with Pop-up Urbanism – The Architects Newspaper
  3. Creative Uses for Buildings in Small Towns – University of Wisconsin Extension
  4. What’s in a Name? The Different Types of Shared Work Spaces – Virginia Main Street
  5. Incubators: Hatching Ideas into Business – Virginia Main Street
  6. Accelerators: Taking Businesses to the Next Level – Virginia Main Street

Recognizing the Hard Work on Main Street: CenterFuse Co-working

At the recent 2018 Downtown Intersections in Harrisonburg, we continued our tradition of acknowledging outstanding achievements in comprehensive downtown revitalization efforts through Merit Awards. They recognize the hard work, dedication and success of Virginia’s Main Street communities and their achievements across the four points of the Main Street Approach®.  This is the first of a blog series to highlight each of the seven award winners. 

Historic Manassas Inc. Executive Director Debbie Haight accepted the Outstanding Business award for CenterFuse Coworking.  Years in the making and the first in historic downtown Manassas, CenterFuse is both an incubator and co-working space that provides new and emerging businesses with an environment that will support their start-up phase and increase the likelihood of success.  It functions as a for-profit business, but was created by and is under the auspice of Historic Manassas Inc., a 501(c)3 nonprofit corporation and pioneer of the local Main Street program.

CenterFuse focuses on science and technology while cultivating other compatible businesses in the district.  The facility offers flexible leases, shared-use, and common office equipment, direct business assistance, mentoring, networking and access to capital.  The 3,800 square foot space includes a mix of offices, dedicated workstations, and open space for networking.  It also provides a roster of entrepreneurship education and mentorship programs, among others.

Since opening in May 2017, the incubator is seeing steady growth in the participating startup’s business development who will soon be ready to expand or move into vacancies downtown. While rising businesses are in the space, they contribute to an entrepreneurial culture in downtown and to the economic vitality of other local businesses and residential properties.

Congratulations Historic Manassas Inc. and CenterFuse Coworking!

To learn more >>>

Incubators: Hatching Ideas into Businesses

Many new entrepreneurs find the process of growing their business as a lonely trek that takes more work than anticipated. Over the past few years, business incubators have helped these entrepreneurs grow and scale their businesses by providing support such as office space, training, mentorship, networking and even financing, in some cases.

Incubators can be sponsored by several types of organizations including nonprofit corporations, for-profit ventures and academic institutions. The idea of most incubators is to help businesses grow and “graduate” out of the incubator and into their own space within one or two years.

Some of the benefits to entrepreneurs are:

1. Helping fledgling companies save on operating costs. The shared facility allows clients to share in the overhead costs associated with business operations. Incubators may also help link businesses to capital, whether that is venture capital or other financing vehicles.

2. Providing a mentorship program that pairs an entrepreneur with an established executive with experience to help guide them through the start-up phase of their operation. This experience can help entrepreneurs avoid some of the pitfalls associated with their new endeavor.

3. The clients within an incubator can also develop relationships with other entrepreneurs, and the networking that comes from those relationships can be invaluable to their business. They can provide encouragement to each other and help solve problems.

Incubators benefit communities by helping new businesses prosper, which can lead to stable jobs for locals. Many new entrepreneurs will stay in the community and grow, filling vacant spaces and providing a lasting impact.

The Virginia Business Incubation Association is a good resource to learn more about incubators and what is available in your locality, as well as information and events geared toward the support of entrepreneurs in Virginia.

Experiences that Bring Customers Back!

We’ve heard from several communities across the commonwealth that improving downtown hospitality is a high priority in making their downtowns a destination! With help from the Virginia Tourism Corporation, DHCD has put together a series of 20 workshops across the state called Delivering Memorable Experiences Downtown, which aims to strengthen business hospitality to provide an experience that creates return customers and positive and proactive word-of-mouth.

Delivering the workshop is Virginia Tech associate professor and author, Dr. Vincent Magnini, who was recently ranked one of the top 12 most prolific hospitality researchers worldwide. Dr. Magnini has published six books and more than 150 articles and reports. His projects typically include destination marketing plans, economic impact analyses, feasibility studies and visitor satisfaction tracking. Before his career in academia, Dr. Magnini worked on management teams at Marriott, Hyatt and Hilton Garden branded hotels in the Mid-Atlantic and Midwestern regions of the U.S.

This training is designed specifically for business owners – restaurant, retail, service – there is something for everyone. Learn how to generate good buzz for your businesses!

Sign up for a workshop near you! Contact Jessica Hupp at Jessica.hupp@dhcd.virginia.gov or 804-371-7121 to register. Do not wait to reserve your seat for these one-time events!

August 6: Hopewell
August 14: Petersburg
August 15: Farmville
August 20: Waynesboro
August 21: Staunton
August 22: Winchester
August 23: Culpeper
August 29: Strasburg
September 11: Altavista
September 12: Pulaski
September 13: Lynchburg
September 14: Vinton
September 18: Cape Charles
September 19: Franklin
September 24: Gloucester

Starting a New Business: Where to Begin?

We hear from many communities that they have aspiring entrepreneurs who would like to explore their business ideas but don’t know where to begin. Here are a few great resources for start-ups:

Waynesboro used funding from a Building Entrepreneurial Economies (BEE) grant from DHCD to create an online tool and one-stop shop to help entrepreneurs through the process. Their “GroWaynesboro” site helps entrepreneurs “Dream It. Plan It. Be It.” They have even developed an interactive guide to starting a business in Waynesboro.

Small Business Development Centers are a helpful resource for new and experienced entrepreneurs. The Virginia SBDC network provides customized counseling and education for small businesses. They provide one-on-one assistance for businesses, as well as small-group training on management topics that are important to small business owners. There are centers located in every region of Virginia, and you can click here to find the location nearest you.

“We have a wealth of tools with which to help entrepreneurs start, fund, analyze and grow their businesses,” says Sheri McGuire of the Longwood SBDC in Farmville. “We have a great team of consultants and staff who share a common experience in business and as entrepreneurs and will work with clients confidentially, one on one, to help them reach their goals.”

Mentorship is also important for start-ups, as seasoned entrepreneurs can help newbies by sharing experiences and lessons learned in starting and growing their business. Some localities have mentorship networks, like the Community Investment Collaborative in Charlottesville. They also received funding through the BEE program to expand their reach. There are also chapters all over Virginia for SCORE, which is the largest network of volunteer, expert business members who help small businesses get off the ground, grow and achieve their goals through education and mentorship.

If your community has an innovative program to assist budding entrepreneurs, we would like to hear about it! Email us at mainstreet@dhcd.virginia.gov to let us know what is happening in your community. You may also contact us if you have any questions about these resources or others that may be available to entrepreneurs in Virginia.

Opportunity SWVA pilots Kiva loan strategy

Community development partners across Southwest Virginia are piloting the use of the Kiva crowdfunding loan platform to help small businesses expand and add jobs. Opportunity SWVA, the region’s entrepreneurial ecosystem collaborative identified five businesses in need of small loans. Over the next two weeks, the businesses are working to raise a total of $43,000 in new capital.

Begun in 2005, Kiva is primarily known for global work connecting people to capital to alleviate poverty. With loans as small as $25, individuals can put critical resources in the hands of emerging entrepreneurs.

oppswvaOpportunity SWVA, comprised of more than 25 small business development support organizations, is working with businesses that have participated in community business launches or have an ongoing relationship with a partner organization. Opportunity SWVA acts as a Kiva Trustee, attesting to the character of the potential borrower.

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SWVA Kiva entrepreneurs Eva Beaule, Steven Harris, Beth Walker, Stephen Curd, and Jennifer Bailey with Virginia Secretary of Commerce and Trade Brian Ball (third from right).

The five pilot businesses are all creating jobs with loans of up to $10,000. Several directly support regional and community transformation strategies.

  • St. Paul Main Street business Sugar Hill Brewing Company is seeking a loan to purchase a food truck.
  • Glade Spring design house and manufacturer Garic Stephens is purchasing sewing equipment to hire additional workers.
  • Architectural steel detailing firm Appalachian Drafting is purchasing a software license to put an additional person to work creating 3D holograms of buildings.
  • In Norton, All Indoor Farm Store is expanding to create Stone Mountain Adventures, a business-diversification strategy supporting the outdoor recreation economy.
  • Advenuture Mendota is purchasing new kayaks to grow the capacity of the four-year-old outfitter, which began as a revitalization strategy in the Washington County community of Mendota.

Want to learn more about how Kiva works?  Try it out!  Support one of the SWVA loans. Then, as your region or community plans its own Kiva strategy, the Opportunity SWVA team will be happy to share with you what they learned.

Make a loan and watch videos of the entrepreneurs.
Track progress of Opportunity SWVA on Facebook.
Get all of the Opportunity SWVA Kiva tools at www.opportunityswva.org/kiva.

 

Webinar Series – Downtown Buildings: Tools for Revitalization

Virginia Main Street (VMS) is hosting a series of three webinars throughout June covering topics related to downtown buildings and tools for revitalization.  All webinars are FREE, however, registration for each one is required.


Virginia Rehabilitation Code
June 6, 2018, Noon-1 p.m.

Speaker: Jeff Brown, MCP, Director of State Building Codes, DHCD

The Rehabilitation Code can sometimes be daunting for downtown building owners to navigate when determining how to make property improvements.  How do you modernize an older building without breaking the bank to meet current requirements? This webinar will help you understand what code sections to reference and available tools to make discussing your planned improvement with your local official easier.


Virginia Main Street Financial Feasibility Studies
June 13, 2018, Noon-1 p.m.

Speaker: Kathleen O. Frazier, AIA, Principal, Frazier Associates

Do you have a large-scale downtown building that sits vacant or underutilized and you do not know what can be done with it? A financial feasibility study is one way to crack open new possibilities for the building and community.  This webinar will walk through the what, when, who and how of the feasibility study process.  With a completed study, your community and property owners will know what to expect and have the answers to attract potential developers, tenants or new owners.


Virginia Maintenance Code
June 27, 2018, Noon-1 p.m.

Speaker: Jeff Brown, MCP, Director of State Building Codes, DHCD

The Maintenance Code provides localities with the means to deal with, not only unsafe structures unfit for habitation, but also the means to reduce blight and maintain property values.  In this webinar, you will learn what the Maintenance Code is and is not, as well as how your locality can enforce it to insure a fair and measured approach is taken.  Topics will cover examples of blight related ordinances, roles of the local and state boards and technical support services available through DHCD.


FIND OUT MORE AND REGISTER FOR EACH WEBINAR HERE >>>