by Mary Jo Milillo
In 1999, the city of Port Adelaide Enfield in South Australia opened the Todd Street Business Chambers in the port’s historic inner harbor, an area suffering from more than 50 years of neglect and economic decline. Its mission: “to rejuvenate the region’s small business economy by attracting new businesses,” says Lynette Hay, Todd Street’s general manager. While successfully carrying out its mission, Todd Street has become self-sustaining by expanding its menu of services.
To recognize Todd Street’s contribution to the region’s economic growth, NBIA presented the 2009 Dinah Adkins Incubator of the Year Award in the Nontechnology Category to the Todd Street Business Chambers during NBIA’s 23rd International Conference on Business Incubation in Kansas City, Mo., in April 2009.
Read on to learn how the program helped to revive a once-thriving seaport and assist small businesses growth.
Keywords: best practices, client services – general, coaching clients, economic impact of incubation, entrepreneurial pool, financial management – incubator, funding sources/fundraising – incubator
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