The unemployed aren’t the only ones who may need a guide to traverse the rugged terrain known as the U.S. economy. Small-business owners also could benefit from a little extra support nowadays.
The Nussbaum Center for Entrepreneurship (NCFE) is there to do just that. Operating out of a former Cone Mills factory building in Greensboro, the center has served as a private, nonprofit business incubator since 1987.
NCFE is home to 66 non-retail businesses — which the center refers to as “associates” — from a wedding photographer to a web solutions company. Occupants of the 80,000-square-foot building range from companies that have been in operation for a short time to more established businesses.
The benefits NCFE offers its associates include affordable rental rates for office space, access to essential operational and administrative support, and a vast local network of helpful business resources.
And, of course, “I think the biggest advantage is being around other entrepreneurs,” said Clay Howard, NCFE associate development and facilities manager.
Office space ... and more
Although non-retail businesses typically don’t need storefront spaces, some owners still prefer a professional environment more conducive to business operation than, say, a home office. NCFE provides offices ranging in size from a few hundred to several thousand square feet, and in price from $150 to $1,500 a month.
Howard said the center has 12 vacant offices available for rent ranging from 215 square feet for $198 a month, to 1,300 square feet for $1,488. Associates also get support from NCFE’s three-person staff, as well as two interns who assist with marketing and accounting.
Benefits of being an associate include:
• Marketing (logo, postcard and business card design, etc.), accounting and information technology support.
• Special seminars from local experts on business-related topics.
• In-house assistance from the local chapter of SCORE (www.score.org), a national business counseling association, and the Small Business and Technology Development Center (www.sbtdc.org).
• Connections to NCFE’s partnerships with local support groups, such as the Greensboro Chamber of Commerce (www.greensborochamber.com) and the Guilford Merchants Association (www.ggma.com).
Entrepreneurs who don’t need an office but still want to take advantage of NCFE’s services can pay a $100 monthly “co-working” fee for access to shared office space, an Internet connection, a fax and copy machine, conference room, as well as counseling and networking services the center offers.
NCFE even helps out non-associates. “We often sit down with entrepreneurs from the community and counsel them in areas in which their companies might need assistance,” Howard stated by e-mail. “As a nonprofit organization, we view ourselves as a community resource, and attempt to help anyone within reason.”
Seminars include talks on business-related topics, such as last week’s installment on networking and business etiquette, and an ongoing series in which a successful entrepreneur from the community shares tips and insight.
An entrepreneur’s experience
Businesses stay at NCFE for an average of 4 1/2 years, Howard said, but even seasoned business owners find the center advantageous.
For around seven years, Anne Givan has operated her far-reaching business, Waste Disposal Solutions, from a 1,000-square-foot-plus office at NCFE. Givan, 46, worked for garbage haulers for many years. As she gained more experience in the business, she realized she could branch out on her own to help companies develop more efficient, cost-saving recycling and waste disposal processes.
She started Waste Disposal Solutions from her home in 1996 after moving to Greensboro. Earlier this decade, when the business grew too large for her digs, she sought out NCFE as a low-cost solution.
Since then, she said she also has benefited greatly from the NCFE staff’s expertise, particularly in the areas of marketing solutions and long-term business forecasting.
“They’re always very supportive of any business that comes in,” Givan said.
How to applyTo become an associate of the NCFE, entrepreneurs need to fill out a downloadable application (www.nussbaumcfe.com/become-an-associate) and get their business plan approved by the center’s staff. Howard said the strength of that plan is key to approval. He said the staff looks specifically at the following five elements:• How the business is defined.• The products and/or services offered.• The customer base.• Marketing methods (word of mouth, Internet, direct mail, etc.).• Financials, including revenue, cost of goods sold, administrative costs, interest expenses and profits/losses.
Contact Patrick Collins at 412-5934 or patrick.collins@news-record.com.
