Small Business Incentive Program
Our goal is to help recruit, support, and establish sustainable small businesses across the Brooks campus. This program will serve as an additional tool for Brooks to attract and retain small and local businesses and to serve as a resource to help business owners achieve sustainability for the organization.
Qualifications
- Submit application, which will include:
- Name of listed business owner and date business was established
- EIN # or Tax ID #
- Profit and loss statement
- Business plan
- Executive summary
- Company description
- Products and services
- Strategy and implementation
- Organizational chart (current/future)
- Financial plan and projections
- Must be an existing business of no less than one year
- Must have executed agreement to establish a presence within the Brooks impact area
- Small business defined as “micro” (employing less than 10 employees and/or an operating budget below $500,000)
Timeline
- Submit application
- If approved, commencement dates for agreed incentive options will be included in executed lease agreement
- Quarterly check-ins with Brooks’ Community Relations Manager will begin three-months following executed lease agreement to discuss and evaluate the progress toward achieving targeted revenue to support operating costs; small business will provide regular updates to business plan and profit and loss statement
- Each year after commencement, for the first three years, Brooks Leadership will evaluate progress and determine if the small business continues utilizing the program; program duration should not exceed five years
- Small Business is expected to achieve sustainability within a five year time period, and should they not be reliant on additional incentives to appropriately operate
The program may incorporate one or more incentive options, to include:
- Grant or loan of up to $10,000; up to 5-year term; 0% interest
- Subsidize temporary space on the Brooks campus
- Subsidize rent structure in current/future space
- Establish base rent amount plus percent of tiered net-revenue
- Subsidize staff support through educational partnerships
- Annual marketing support through funding and/or manpower
- Event sponsorship and support
Small businesses will be required to provide select in-kind services to Brooks, to include:
- Monthly activation
- Free membership and/or discounted services
- Staff/Board of Directors
- Marketing collateral and cross-promotion
- Participation in regular events hosted by Brooks and Brooks Gives Back