Mission Statement
The goal of the Pioneer Center for Business Opportunity is to provide new and existing small businesses with management assistance, cost effective space and a synergistic environment thereby encouraging the development of local businesses which can: (1) contribute to the general economic health of the region; (2) provide new and increased job opportunities; and (3) add to the variety of products and services available to area business and industry.
Acceptance Criteria
In keeping with the mission statement, businesses applying for membership in the Center will be evaluated based on the following guidelines:
Age of Business
Start-up
Existing company expanding quarters from non-traditional business setting (e.g. home, garage, etc.)
Characteristics of Business or Product/Services Offered
Preference is given to those businesses showing the greatest potential for growth and job creation and those which have developed a product or service that is innovative, fills a void in the local market, or is sold outside the area, attracting new dollars into the region.
Tenant Businesses Must:
Be operated on a full-time basis.
Demonstrate the need for substantial benefits, which the Center can provide to the business – clerical, financial, management, etc.
Submit an approved written business plan (assistance available upon
request).
Special consideration may be given to:
Existing firms operating on a part-time basis prepared to begin full-time operations within 18 months.
Firms suffering from space, management or financial problems that severely limit their growth.
New divisions of existing firms or research/development projects that parent companies seek to separate from their main operations.
Foothold plans for companies based outside the region.
Businesses that intend, upon graduation from the Center, to locate within the LENOWISCO district.
Eligibility Restrictions:
The following types of businesses are ineligible for occupancy in the Center:
Retail sales, real estate and firms requiring high traffic volume
Businesses with substantially limited growth potential.
Businesses operated as a hobby.
Businesses/services that may compete directly with an existing business
service, except under certain conditions.
Leasing Policy
Minimum occupancy is a one (1) year lease, renewable for up to two (2) additional years. Following the one-year minimum lease, either party may terminate the lease upon 30-day written notice.
The incubator’s Board of Directors will have the authority, at its discretion, to extend any lease on a month-to-month basis if it is determined that premature graduation would adversely affect the tenant’s business.
The Board also reserves the right to terminate leases on thirty (30) day notice if, in its judgment, such termination will be in the best interest of both parties.
Exit Criteria
Maturity indicators: Business need for additional space, no longer
needs services provided; financial stability.
Length of stay: Three (3) years maximum (with certain exceptions noted above).
Progress Reviews
The progress of each tenant is reviewed by the facility Director on a continuing basis on at least two bases:
Continued occupancy is contingent upon the tenant’s continued compatibility within the facility, as determined by the Board of Directors or the facility Director.
All tenant businesses are required to submit monthly financial and progress reports as requested by the Director. Continued occupancy is contingent upon satisfactory progress in accordance with the approved business plan or business plan outline.
If, in the opinion of the facility Director, progress reviews reveal areas of weakness, tenants will be required to attend selected workshops.
In addition to these monthly evaluations, tenant businesses entering the facility on a part-time operating basis will be evaluated each six months to gauge progress toward full-time operation