The Lowcountry Small Business Hub will transition its services to other organizations
effective January 30, 2012
The Lowcountry Small Business Hub is a non-profit corporation formed in October 2008 to build a broad community based partnership focused on the creation and growth of small businesses across Beaufort, Colleton, Hampton and Jasper counties. Over the past three years the Hub has successfully accomplished its mission. It has helped over 300 businesses to grow or improve, supported the start-up of 14 new businesses, saved 41 jobs, launched a Virtual Business Incubator, started a peer mentoring program for small business owners, and trained 189 entrepreneurs attending the rigorous 10 week FastTrac® program in partnership with the Technical College of the Lowcountry (TCL). With a coalition of more than 50 businesses and public-private sector organizations, the Hub has shown what can happen when the community comes together to create a collaborative and supportive environment for small businesses, which are the back bone of our economy.
The Hub has been primarily funded by three Rural Business Enterprise grants from the US Department of Agriculture. The grant leading to the formation of the Hub was awarded to TCL, and two subsequent grants were awarded to the Hub as an independent entity. The last of these grants is about to expire. The Hub was awarded a $180,000 grant from the US Department of Commerce in the Summer of 2011 contingent on the Hub raising $90,000 in matching funds. The Board of Directors for the Hub has been unable to raise the matching funds required. Therefore, the Hub Board has determined that now is an appropriate time to transition the Hub's services to other organizations that have complementary missions. The SC Lowcountry SCORE Chapter and other small business development groups have entered into conversations focused on successfully transitioning major Hub programs like the Lowcountry Virtual Business Incubator.
The Hub’s office in Ridgeland, S.C. has closed.
Members of the Hub organization will meet on Tuesday January 24, 2012 at 9:00 AM at the TCL Bluffton/New River campus to discuss future priorities.
