Frequently Asked Questions
What is a small business incubator?
A small business incubator encourages the development of new businesses and fosters local economic development. Our four Enterprise Centers or "incubators" provide affordable office, retail, warehouse and production space. In these facilities new and growing businesses operate under one roof with below market rents, shared services and equipment and equal access to a variety of professional and financial programs and services including executive mentors and advisors.
Why small business incubators?
Incubator facilities provide a conducive business growth environment where public and private resources can combine to meet the needs of small businesses during their critical stages of development including shared support services, connections to capital and financial sources and valuable networking and educational seminar training opportunities.
Small business is big business. It powers the American economy. According to the U.S. Small Business Administration, privately owned companies are responsible for 58 percent of all private-sector jobs, 43 percent of domestic sales and 51 percent of our private gross domestic product.
Who benefits from the Enterprise Centers?
Small new businesses and the community both benefit from business incubators in different ways:
Small Business Owners (Tenants)
- Develop increased awareness of and access to financial and professional assistance
- Gain access to facilities and equipment that may not be otherwise available
- Increased visibility
- Ideal networking environment
- Small business owners can share experiences and reduce the risks involved in business startup
Community
- Increases job creation and retention
- Improves the local economy
- Creates greater opportunities for public-private partnerships
- Creates a sense of belonging
What types of businesses can be Enterprise Center tenants?
Tenants come from a variety of industries and businesses including:
- Assembly and light manufacturing
- Food services
- Health care services
- Production and technology
- Professional services
- Research and development
- Warehousing and distribution
Who sponsors the St. Louis Enterprise Centers?
- St. Louis County
- St. Louis County Economic Council
- City of St. Louis
Who will run my business?
As the business owner, you are the one who runs your business. The professional resource network, the facility and the management team do not constitute any equity investment or business management authority. The business is and always will be yours.
What facilities do incubator tenants share?
As incubator tenants, small businesses share a range of office facilities including fax machines, copiers, conference rooms, and break rooms.
How long can I stay at an Enterprise Center?
Generally, small businesses remain at an Enterprise Center for approximately four years, but this varies by individual circumstances of each company.
How can I become an Enterprise Center tenant?
The selection process involves an interview with our Enterprise Center vice president, filing an application with inclusion of a business plan and talking through your plans for revenue and employment growth. Final approval is then given through the St. Louis Enterprise Centers board of directors.
