The Pioneer Centers are the only business incubators serving the LENOWISCO Planning District (including Lee, Wise, and Scott Counties and the City of Norton). The purpose of an incubator facility is to provide a sheltered environment conducive to the growth and development of small businesses.
A business incubator assists new and developing entrepreneurial companies by providing a nurturing early-stage environment, with flexible leases at affordable rates, plus business services such as fax/copying, conference areas, and management/clerical support.
According to the U. S. Small Business Administration, small businesses constitute more than 90 percent of all businesses in the United States, and create more than 80 percent of new jobs. Yet, despite these impressive statistics, as many as 80 percent of all new small businesses fail within their first five years of operation.
Nationwide studies show that business incubators help reverse this failure/success rate, with more than 80 percent of incubator “graduates” surviving that high-risk phase. Incubators are part of a growing nationwide trend to help small businesses – and local economies – survive and flourish.
Incubator tenants are not “permanent residents,” but remain in a facility for an average of two years before graduating, being replaced by new tenants.
The Pioneer Center at Duffield also hosts a satellite office of the Small Business Development Center. Professionals from the SBDC provide invaluable support in financial management, tax planning, marketing, and much more.