Building a strong downtown business community
Having a strong, resilient and attractive downtown business mix can help you build a better downtown business community. Read More
Downtown residents as consumers
The addition of new residents into downtown is a boon to both landlords and commercial tenants, creating a new (or enhanced) source of revenue for landlords with vacant upper floors or dated apartments, and a reliable stream of accessible customers for retailers and restaurants. Since residents within walking distance of a business have been found to frequent local shops twice as often as driving-distance customers, and with the average downtown household in Wisconsin making $9,000 worth of discretionary purchases within the state, the addition of only a few units can result in a dramatic increase in local spending. Read More
The case for residential development downtown
Downtowns are the original live/work neighborhood. Traditionally, small business owners lived above their shop, which was a convenient and cost-effective way to sustain a household. Especially profitable business owners might live elsewhere, instead allowing employees to live above the business, which was both a good business practice (increasing employee availability) and an employee perk. Over time, social norms, development patterns and zoning standards in all but the largest cities made it less common, resulting in many upper floors being relegated to storage uses. The combination of shifting demographics, increasing demand for low-maintenance residential options within walking distance of amenities, and preference for unique architecture and authentic experiences has led to a resurgence in demand for downtown living space Read More
Co-working: Not just a high-tech trend
Co-working has been a trendy topic the first spaces opened in 2010. For most of this time, the trend has been concentrated mostly in larger cities. The movement has continued to gain steam, with nearly 14,000 co-working spaces now operating worldwide, and about 2,500 new spaces per year being added. No longer just for high-tech workers, co-working spaces now come in a variety of forms – there are spaces that cater to artists, makers, remote workers, the self-employed professional and startups of all types. Read More
Sustaining Family-Owned Businesses in Downtown
Whether a business begins when a husband-and-wife team goes into business together, or with a parent-child partnership, family-owned businesses often have close ties to the community and can be powerful advocates on behalf of the community. However, 70 percent of all privately owned businesses will change hands in the coming decade as Baby Boomers retire, and only one-third of family businesses successfully make this transition. Businesses can significantly improve their odds by undertaking three critical initiatives. Read More
Communities Have a Role to Play in Supporting Entrepreneurs
In addition to growing economic success, women-owned businesses contribute greatly to the community: more than 60 percent of women businesses owners identified in the Main Street survey were actively involved in the community. Given this community involvement, it makes sense that women-owned businesses tend to be successful at crowdfunding efforts: 70 percent of Kickstarter projects launched by women were funded, compared to 61 percent of male projects. The Kiva Zip program, new to Wisconsin in 2016, matches entrepreneurs with community funders to provide zero-percent loans of up to $5,000 to small businesses. Read More
Downtown: hotbed of entrepreneurship
Downtown provides a cost-effective and scalable location for businesses to start and grow. Not only were downtowns the first live/work communities (a cost- and time-saving advantage that many entrepreneurs still take advantage of), but historic buildings also offer passive income potential in the form of rental of upper floor spaces, as well as future expansion opportunities. Read More
Profiles of Wisconsin’s women entrepreneurs
Women entrepreneurs make up a large, growing and vital part of the downtown business landscape. Women business owners and managers – who make up 40 percent of all downtown businesses owned in Wisconsin - find the downtown environment to be a supportive place to start and grow a business, offering convenient marketing, built-in foot traffic, and a community of other entrepreneurs to collaborate with. This network of like-minded business owners bodes well for future business growth. Read More
Farmers markets: helping grow downtown
Farmers markets are a common sight in many Wisconsin communities. Markets create activity during off-peak hours, support local entrepreneurs, and increase access to healthy foods. Increasingly, these markets also incorporate performances from local arts groups, cooking demonstrations, food trucks and community engagement. Read More
Homesteader Pantry wins 2016 new business of the year
The Homesteader Pantry, open four days a week, welcomes more than 10 local producers as part of an indoor year-long market. The storefront provides many local artisans the opportunity to grow their business in a low-risk environment, illustrating the power of local entrepreneurial programs to cultivate a unique local business mix. Read More