Marie Bagwell
Staff Writer
The Great Plains Business Center will soon be expanding with the addition of a business incubator that will help with the problem of failing business startups.
Business Incubator Manager Pat Beck is currently speaking with people who seek a space in the new business incubator.
“We will have tenants in the building trying to make a living and be a business,” Beck said.
The planned 27,000 square foot incubator will be where a supportive community will surround entrepreneurial artists, food producers and service providers. Beck said that is intended to be a place “where they can share experiences, they can cry on each other’s shoulder, they can draw from the talents of others.”
The Business Center will have several office spaces, workspaces designed for artists to foster creation, an industrial kitchen and light manufacturing spaces. The offices will also be supplied with the elements needed for a successful business.
“It provides them with shared resources such as a shared copier, shared telephone system, shared Internet system,” Beck said, “so that they don’t have to come out of pocket for a lot of startup expenses that they would otherwise have to come up with.”
One of the experts who will be assisting, and has already assisted, is Cameron University Art Department Chair Edna McMillan. Beck said she has been instrumental in designing the arts incubator and is an “invaluable asset.”
Beck says that business incubators are proven to turn an 80% fail rate into an 87% success rate. The purpose of the Business Center is to help grow strong small businesses in Lawton and Southwest Oklahoma. The intention is to teach small business owners sound business habits.
Businesses that will take part in the incubator must have a business plan and six months of available financing because those two things contribute to a successful startup, Beck said.
Beck said there is also “that nag effect.” She says she will be able to walk through the halls of the Business Center and check with the tenants to make sure they are following their business plans, to make sure they have filed their taxes and to make sure they have what they need.
In addition, business owners will attend mandatory business educational programs. The costs of those and other programs are included in the price of the rent. Rent will average 6 to 10 dollars per square foot annually.
Beck said that the Business Center will also offer mentors and experts in art, food production and manufacturing. The incubator is intended for people who need help but also are coachable. Beck said they “have to need us.” Tenants have to be willing to heed advice from the Business Center’s panel of experts.
Karen S. Clymer of Wholesome Communication said she has already utilized the knowledge of Beck and her experts.
“I am a baby business, but have great coaches to help me,” Clymer said.
Clymer said those interested in starting a business should take advantage of the Great Plains Business Center – she still seeks their advice and said they are a great asset.
Beck said while Cameron University has its own business incubator in the CETES department, Great Plains will be able to offer space that Cameron’s incubator does not have.
“We are going to complement each other,” Beck said.
Beck and others will be available to meet with prospective tenants for a space in the incubator at 12 p.m. on Oct. 11 at the Great Plains First Annual Arts Battle.