Small Business News
Lincoln University Continues to Focus on Entrepreneurship
Published: Monday, May 13, 2019
In recent years, Lincoln University’s School of Business has partnered with the Jefferson City Area Chamber of Commerce – StartUp JC and the University of Missouri – Small Business Development Center (SBDC) to offer business counseling assistance to entrepreneurs and business startups within our expanded community. The partnership has connected with scores of budding entrepreneurs and business startups to provide professional guidance during the most critical period of business ownership. According to the Small Business Administration, 30% of new businesses fail during the first two years of operation and percentages increase to 50% in the first five years. With the rate of early failure looming large, business planning guidance can be extremely valuable and the difference between success and failure.
On April 8th of this year, Lincoln University’s School of Business raised the bar with the grand opening of their new Small Business Development Center located at 917 Leslie Plaza. The Small Business Development Center will serve double duty by housing Lincoln University’s SBDC staff and has the potential to offer small business incubator space to new startups as they begin their journey. “We are thrilled with our new space and eager to assist prospective student entrepreneurs within our business school and those within the community,” said Dr. Eric Burgess, Dean of the School of Business. “The current administration is creating an environment to assist and grow new startup businesses, which will lead to increased economic development opportunities for a community.”
The LU-SBDC now has the ability to provide hands-on business counseling assistance, coupled with the capability of providing office space at a reduced cost to help offset a portion of early startup costs. As this time, staff with the LU-SBDC are finalizing plans to address rental terms, length of contract and accessibility outside of normal working hours. The facility itself can accommodate multiple one to two-person office-style businesses and provide amenities such as internet, copy machines, and meeting space.
The Jefferson City Area Chamber of Commerce-StartUp JC will continue to work closely with the LU-SBDC staff members in support their business development efforts to grow healthy new business startups in our community. We at the Chamber are appreciative of Lincoln University’s efforts to assist entrepreneurs and new business startups as our missions parallel to provide a vibrant and sustainable small business community for years to come.