Page 84 - South Mississippi Living - November, 2019

GROWING
a Small Business
Small businesses have a huge impact on the economy, but starting and growing a business is fraught with challenges. According to data from the U.S. Bureau of Labor Statistics, about 20 percent of small businesses fail within their first year. By the end of their fifth year, roughly 50 percent of small businesses fail. After 10 years, the survival rate drops to approximately 35 percent. But for Coast small businesses there is help available in the way of innovation centers and chambers of commerce offering seminars, courses and information.
story by Lynn Lofton Geneva Dummer opened The
Meeting Place in Biloxi because she had experienced the need for such a co-working place. “We offer virtual and physical office space through a variety of different membership levels depending
on the needs of the client,” she says. “We also host workshops that are relevant to starting and/ or building a business, and I offer business consulting, bookkeeping, and grant research, writing and editing services. Members and I tend to hire each other for specific tasks as we need to.”
At the Innovation Center on Popps Ferry Road in Biloxi, there are a variety of space sizes and rental costs to accommodate emerging businesses. The goal
is to assist small businesses by lowering operating costs and offering insight into the business world and interaction with other entrepreneurs.
“We will help you get your idea out of the box and into the world where it can continue to grow, improving lives and inspiring others,” said Executive Director
Stephen Whitt.
A small business resource
conference will be held November 22 from 8 a.m. until 5 p.m. Visit the Innovation Center’s website for details and to register.
Dummer says The Meeting Place’s concept is a combination of co-working, meeting, and training opportunities in a Class A facility. “I don’t have a limit or a tiered rental agreement. Businesses
tend to start as virtual members and then move up through the intermediate levels to an office until they need more staff than their office will allow,” she added. “Several of our members have been out-of-town companies looking to test the market with
the hope that they’ll be able to relocate to the area permanently.”
CONTACT
Innovation Center
1636 Popps Ferry Road, Biloxi 228.392.9741 www.innovatems.com
The Meeting Place
770 Water Street, Biloxi
228.207.0663 www.themeetingplacems.wordpress.com
84 SOUTH MISSISSIPPI Living • November 2019
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