What is the Midway Business Center?
The Midway Business Center is a business incubator, which is an environment
where new and growing businesses can receive technical assistance and
share the cost of facilities and equipment until the business has been
well established and can grow without assistance.
How long can I stay in the Business Center?
Though subject to individual negotiation, the longest lease term is
expected to be three years.
What types of services are available through the Business Center?
The Business Center will broker the services of a broad range of partners
to provide individualized assistance to the members and associates,
such as business planning and development, training, consultation, mentoring,
and support from a volunteer Board of Directors who will help you build
your business.
Is there any on-site support?
The Center will be staffed by a manager who will supervise day-to-day
operations, provide technical support to businesses, and coordinate
training and development services for the members and associate members.
What happens when I leave the Business Center?
It is expected that a business will be ready to function on its own
by the time the lease expires. The Business Center manager will have
a final review of progress at the end of the lease. The Business Center
will be available to offer support and technical assistance after graduation
from the incubator.
What is an associate member?
Associate members are businesses that do not wish to rent space, but
would like to have access to the additional services offered by the
Business Center. As an associate member, there is a monthly fee to cover
the cost of services. The services are the same as for Business Center
members.
What happens if things don't work out for my business?
The Business Center manager and our partners will do all they can to
assist the business owner, however, the ultimate success of the business
is largely dependent on the skill and dedication of the business owner.
A business in the Midway Business Center is a commitment as would be
a business anywhere. You should feel comfortable that the time is right
to launch or expand your business. Should the business wish to leave
the incubator prior to the end of the lease, the business owner will
be asked to pay two months of rent as an early exit penalty. This will
be part of the original lease agreement and allows time for the Business
Center to seek a new member.