Sanger virtual incubator program gets approval
- Published on 07/24/2012 - 2:14 pm
- Written by Business Journal staff
The Sanger City Council has approved an innovative new program that aims to give 100 business owners and entrepreneurs tools they to increase their chance of business success and expand the number of local jobs.
The 100 Beacons program is a virtual incubator that will help Sanger business owners assess their business idea, prepare a business plan and acquire the technical expertise needed to move their idea to market.
“Small business is the nation’s most powerful engine for job creation, and in this economy people need jobs,” said Sanger Mayor Joshua Mitchell, in a statement. “The problem is that many would-be business owners open their doors without the knowledge needed to succeed, and more than half of them are out of business within the first three years.”
Sanger City Manager Brian Haddix oversaw a business incubator program when he was Butte County’s chief administrative officer. Haddix noted that 87 percent of businesses that started with an incubator were still open five years later versus 44 percent of those that did not use an incubator.
“Starting a business is difficult; you have tons of questions like, ‘Where do I locate, who are my customers, how do I reach them, what is the secret to getting a loan from a bank, can I get help in drafting a business plan?’” Haddix said. “This program is designed to hook up Sanger residents who have the dream and enthusiasm of starting their own business with experts who can assist in launching and growing a successful business.”
The 100 Beacons program is being provided at no charge thanks to financial collaboration from the U.S. Department of Agriculture, Central Valley Business
Incubator, Wells Fargo, the Office of Community Development and the University of