We’re unveiling more info for Downtown Intersections 2017!


More to come!


 

Downtown Intersections – Winchester – July 10-12, 2017

 

Creating a Successful “Entrepreneurial Ecosystem”

In Main Street districts, one of the best ways to fill vacancies, and prevent new ones, is to foster a setting that is attractive to entrepreneurs and where small businesses can thrive.  The buzz word nowadays for that setting is “entrepreneurial ecosystem,” which refers to the elements outside the individual that encourage entrepreneurship and increase the probability of a successful business following a launch.  That ecosystem is what attracts, or repels, a business from locating in an empty storefront.

entrepreneur-ecosystem

Entrepreneurial activity in the U.S. is up 60% and at its highest level since 2005, according to the newest Global Entrepreneurship Monitor (GEM U.S. Report) with retirees looking for a second career and younger adults driving the trend.  The market is ripe.

Energizing Entrepreneurs was developed by the Center for Rural Entrepreneurship to provide a roadmap for communities looking to build their own Entrepreneurial Ecosystems. It is a great resource for communities, organizations and individuals who want to learn:

  • Why it’s so important to become an entrepreneurial community;
  • The elements of a support system for entrepreneurs;
  • Assessment tools to develop a local strategy;
  • How to understand and connect to entrepreneurs; and
  • The importance of creating, measuring and sustaining local impact.

Exploring the opportunity is a first step and DHCD’s Building Entrepreneurial Economies program can support the effort!

Learn more >>

Can “Open Late” increase “Shop Local?”

ClosedSignIt’s an old problem and a pervasive one. In Main Street districts nationwide, small business owner’s are reluctant to be open late or on the weekends. As a consequence those who work 9-5 jobs outside of the district are unable to shop local. A recent Wyoming Business Report article takes a look at how Main Street businesses’ hours of operation could be a catalyst for shifting economic progress.

Store hours come up in conversations with Main Street advocates across the state and nationwide.  It’s a discussion topic that often ends with a collective sigh.  It’s a challenge to convince independent business owners to change, let alone an entire consumer group.

Writer Joel Funk highlights solutions from several Wyoming downtown professionals and the National Main Street Center’s Matt Wagner.  Business owners need people downtown to make it worth their while to stay open and, equally true, shoppers need businesses to be open to make it worth their while to come downtown.  A successful shift of store hours is reliant upon a relationship between the owner and consumer, encouraged by the local Main Street program’s market awareness and perseverance.

70% of all consumer spending (both locals and visitors) takes place after 6 p.m.  Tourism specialist Roger Brooks suggests starting the shift by working with businesses to stay open on Friday and Saturday until 7 p.m. the first year, then add additional days as merchant confidence and consumer habits change.

Be that catalyst to shift economic progress.  Start the conversation!

 

Building Entrepreneurial Economies (BEE) Grants Awarded

entrepreneur-ecosystemGovernor McAuliffe recently announced over $200,000 in Building Entrepreneurial Economies (BEE) grant awards for eight projects in the Commonwealth. The BEE grant program provides funding to local governments and nonprofit organizations for entrepreneurship programs aligned with local and regional economic development strategies, primarily in distressed communities and populations.

“Small business development is a vital component of the new Virginia economy,” said Governor McAuliffe. “The Building Entrepreneurial Economies grant awards will support our homegrown assets and create new opportunities for economic diversification. By supporting small business programs in communities across the Commonwealth, we are building a strong entrepreneurial environment that will ensure that Virginia continues to be the best place for individuals to start and grow their companies.”

BEE offers two types of grants: implementation and planning. The implementation grants are awards up to $40,000 for projects that expand coverage for small business support services or implement innovative ideas that have already been funded and field tested through the BEE planning grant program. Planning grants are awards of up to $15,000 to research, develop and plan for a potential project.

The projects that were awarded funding include the development of a one-stop information, training and work space for entrepreneurs, an accelerator program and youth entrepreneurship programs. Planning grants were awarded for regional market analysis, the creation of an infrastructure network for entrepreneurs, and the development of a co-working space.

View the governor’s press release: http://governor.virginia.gov/newsroom/newsarticle?articleId=18332

Funding for FY 2018 Building Entrepreneurial Economies (BEE) grants will open on January 1, 2017, and applications will be due on March 1, 2017. Click here for more information on the BEE program.

The Bright Buzz: Kindling entrepreneur-focused transformation in Winchester

Many communities have decided that supporting local entrepreneurs is key to a thriving Main Street and one Virginia initiative is receiving national attention!

The National Main Street Center’s Main Street Story of the Week takes a look at how a local property owner created an innovative community space for entrepreneurs and entertainment to thrive.  Jennifer Bell, Winchester’s Downtown Manager, highlights the Bright Center, a 38,000 square-foot mixed-use development housing offices for 20 businesses and organizations, the Bright Buzz for entrepreneurs, and the Bright Box for entertainment.  This entrepreneur-focused downtown project kindles a movement of dramatic transformation within Old Town Winchester.

Read more >>

 

MS_Bright-Buzz

The Bright Center, Winchester, Virginia

Pop-Up Altavista 2.0: Cultivating Local Entrepreneurs with an Educational Business Launch Competition

How can Main Street help entrepreneurs achieve a business expansion or start their own business?

The National Main Street Center’s Main Street Story of the Week features Pop-Up Altavista 2.0, Altavista On Track’s (AOT) second business launch competition.  Emelyn Gwynn, Main Street Coordinator for Altavista, highlights the program, which kicked off September, 2016.  Building off of AOT’s inaugural competition in January 2015, this second iteration is designed to lead local entrepreneurs through a nine-week educational program to help them plan for their business’ future.  This time they partnered with Virginia’s Small Business Development Center (SBDC) and utilized a program called GrowthWheel to create the curriculum.   Pop-Up 2.0 culminates with a “Business Expo Night” event where participants pitch their business ideas to judges for the opportunity to receive funding.  The winning businesses will be determined by the strength of the business plan, sustainability of the business, and the need for the business in the community.

Learn more >>

altavista-pop-up-2-0

The CRO Roadshow is coming to a location near you!

road-tripThis fall, the DHCD Community Revitalization Office is traveling throughout the state to highlight community development and capacity building programs and grants. Whether you are looking to revitalize a derelict and blighted building in your community or are interested in using the Main Street approach to community revitalization, we will introduce you to our services and programs and prepare you for the upcoming grant cycle.

Attendees will learn about the following programs.

  • Virginia Main Street
  • Industrial Revitalization Fund (IRF)
  • Building Entrepreneurial Economies (BEE)
  • Community Business Launch (CBL)
  • Virginia Individual Development Accounts (VIDA)

Community Revitalization Office staff will provide an overview of each program and discuss successful and unique projects throughout Virginia. Staff will also be available to talk individually with attendees about potential projects or programs in their communities.

We will be in Front Royal on October 27th, Warsaw on November 7th and Pulaski on November 10th. We look forward to seeing you there!

For more information or to register for this event, click here.