FREQUENTLY ASKED QUESTIONS

WHAT IS AN INCUBATION CENTER ?
An incubation center is a place that coaches and houses new businesses.
WHAT ARE THE BENEFITS OF AN INCUBATION CENTER ?

  • New businesses benefit from an atmosphere where other entrepreneurs are developing their businesses. They offer one another mutual support.
  • The incubation program provides business space at below market rates.
  • New businesses are coached by individuals experienced in growing and developing new businesses.
  • The program also offers management /technical advisement, access to shared support services at huge savings and much more.
  • The participant of an incubation program usually has a better chance of surviving during the first few critical years in business.
HOW MANY BUSINESSES CAN THE PARSONS' CENTER FOR BUSINESS ENTERPRISE(PBBE) SMALL BUSINESS INCUBATOR CENTER HOUSE?
  • PCBE  can house up to 5 small businesses in spaces ranging from 500 sq. ft. to 1,000 sq. ft.
WILL I HAVE TO WAIT FOR SPACE IN THE NBIC?
  • The PCBE is almost always at capacity. A waiting list is maintained of prospective APPLICANTS who are notified as spaces become available.
DO I HAVE TO SIGN A LEASE TO MOVE INTO THE NBIC?
  • Normally each business must sign a lease for the duration of the incubator period of three years  Should the incubator tenant  reach a level of business stability whereby incubator services or space is no longer needed,  the tenant may be "graduated" from the incubator on their request and on agreement by  the Incubator Selection Committee.  In this  event the lease will be terminated on the agreed to "Graduation" date.   
HOW LONG IS THE INCUBATION PERIOD?
  • Participants (tenants) may stay at the Center a maximum of three (3) years
WHAT SERVICES ARE AVAILABLE DURING THIS PERIOD?
  • Low-cost rental space
  • Referral for management/technical assistance
  • Free parking
  • Notary services
  • Garbage Pick-up
  • The Center will assist, where possible, in the identification of sites for re-location of graduates
  • Common use Computer, a color copier, fax machine, and access to high-speed wireless ISP hub.
WHAT IS THE SELECTION PROCESS?
  • Submission of Application and Business Plan according to Procedures outlined at the "How to Apply" link ton the left hand side of this page.   
WHAT KINDS OF BUSINESSES ARE ELIGIBLE?
  • Start-up or existing businesses
  • Corporate, partnership or sole proprietorship
  • Developed product or service
  • For-profit and non-profit
  • Non-polluting industries
WHAT TYPES OF INDUSTRIES MAY APPLY?

  • Retail
  • Service
  • Non-Profit 
      (New products or services in area, plus growth and employment are key factors)
WHAT ARE TENANT REQUIREMENTS?
  • Business operating permit
  • Furnishings and equipment for rental space
  • Insurance on their  equipment and furnishing
  • Utilities for rental space (except 500 sq. ft. multiple office building)
WHAT SIZE SPACES ARE AVAILABLE?
  • Two 500 sq. ft. areas office spaces.
  • Three 1,000 sq. ft. areas  storefront type buildings
WHAT IS THE TERM OF THE LEASE AGREEMENT?
  • Three  years maximum;  early release possible is due to "Graduation" from Program
WHICH PARTY MAY TERMINATE?
  • Either, upon 30 day written notice for  cause.
WHAT IS EXPECTED FROM THIS PARTNERSHIP?
  • Reduced rate of unemployment
  • Economic growth and development
  • Linkage between graduated incubates and existing area merchants
  • Stronger business/government linkages to improve the Quality of Life Agenda in Parsons.
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Center for Business Opportunity | Overview of the Parsons Small Business  Incubator Program | Why A Small Business Incubator | Criteria for Admittance to Incubator Program | How to Apply | Incubator Agreement | Frequently Asked Questions