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Bessemer Business Incubation System
Developing. Business Today, For Tomorrow
The Bessemer Business Incubation System (BBIS) is a division of the Bessemer Development Board. The BBIS serves as the small business wing of the Bessemer Development Board and serves/houses businesses with revenues up to $10,000,000.
The BBIS began in 1996 with the opening of the Bessemer Business Center. The incubator program physically expanded in 2001 with the addition of the James E. Mulkin Downtown Business Center. The downtown facility was started for two reasons, the success of the initial facility and a need by the Bessemer Development Board to show that the downtown Bessemer area can once again sustain viable businesses. To date that effort has been successful with the downtown facility maintaining at least an 80% occupancy rate.
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The incubator provides in-house services to service, light industrial/manufacturing, technology and wholesale/distribution businesses. The only business genre the incubator cannot house within its walls are retail and food production establishments. Businesses can remain in the incubator for up to 5 years.
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Services
In an effort to enhance the chance of success of its tenants, the BBIS provides a number of services ranging from those with a research orientation to financial assistance. The services are open to all the resident businesses and some are available to graduates and the general community.
Business Plan Development & Assistance
Business Related Seminars and Workshop
Marketing Plan Development & Assistance
Loan Proposal Counseling & Development Assistance
Loan Package Preparation
Industry and Market Trend & Demographic Research
Prepare and submit a comprehensive business plan or detailed executive summary to the BBIS Director. If a detailed executive summary is submitted, a business plan must be completed and submitted to the BBIS director by the end of the first three months in incubator occupancy.
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The BBIS Director will present the business plan or executive summary to the Bessemer Industrial Development Board. The industrial development board owns the incubator facilities and retains final approval/ disapproval authority.