New Opportunities Open For Potential Business Owners

2 years 4 months 2 weeks ago January 07, 2014 Jan 7, 2014 Tuesday, January 07 2014 Tuesday, January 07, 2014 9:03:00 PM CST in News
By: Paige Travis, KOMU 8 Reporter

FULTON - New efforts are being made in Fulton to encourage potential business owners to strongly consider making an investment in the town. A group of seven Fulton business owners, bankers and educators have launched what they're calling an Entrepreneurial Initiative board under the Fulton Area Development Corporation. The board was created to help promote community involvement and to better guide potential business owners in the area.

Small towns have traditionally struggled with the constant change in spending patterns, outside competition and new merchandising techniques. The Entrepreneurial Initiative will help mentor prospective business owners about how to successfully begin developing retail and business strategies.

Board members said the Fulton area is in an ideal location for business growth with close access to the highway, two colleges and the Callaway County Courthouse. New businesses would help fill vacant storefronts and commercial buildings in the downtown "Brick District," and would bring in additional sales tax in revenue to the city of Fulton.

Fulton Area Development Corporation President Bruce Hackmann said residents often have to leave Fulton to buy resources that are not offered locally.

"We've always said our location is a blessing and a curse. It's a blessing in the fact that we have access to larger communities nearby that bring things to the table that we can take advantage of, but at the same time, we feel like we have a lot to offer in a community like Fulton," he said.

Hackmann also said providing material for the needs of local shoppers is an ongoing battle.

"That's the constant goal that we have in a community like this is to try to provide those types of services and goods that people want," he said.

He said smaller towns often struggle to compete with cities with more resources.

"This is something that a lot of communities have recognized because of the competitive nature of economic development and trying to attract a large business or a large industry to your community with a lot of jobs, it's so competitive," Hackmann said.

Fulton's was one of 39 downtowns in Missouri to be selected for the state's Downtown Revitalization and Economic Assistance for Missouri Initiative (DREAM) program. The initiative held focus groups and community surveys to form a strategic plan about how to increase downtown traffic and help fill vacant space. A recent survey showed that potential service and retail businesses would be the most profitable way to fill vacant space downtown.

PGAV Planners, an urban planning and consulting company, partnered with the DREAM initiative to analyze how Fulton residents felt about the town's resources. Its analysis showed the most room for financial gain in grocery stores, restaurants and building material and supplier dealers. The retail market analysis found that a lack of local retail businesses and building renovations were contributing factors to the low success rate of the Fulton area shopping experience.

One new business owner said the community has become more invested in growing the town's financial potential, after the restructuring of the Brick District Association.

Well Read co-owner Brian Warren and his wife moved to mid-Missouri from California. The couple opened a bookstore in the Brick District last October because they said they saw potential in the town's atmosphere.

"The neat thing about being in a small town is that... whatever you do has a big impact," Warren said.

He also said there is a need for more retail stores.

"We definitely need more businesses. We want more retail establishment to come down here and see what we are doing and realize just like we did when we started our business a year ago, that there's a lot of opportunity here and there's a ton of upside to investing in Fulton," he said.

The analysis also showed that residents made use of their close proximity to Columbia and Jefferson City by obtaining resources that were not offered in the area.

A telephone survey administered in 2009 as a part of the DREAM Initiative identified that most residents wanted to see more dining and retail shops in the downtown area and showed discontent with the Brick District's lack of entertainment and after hours options.

The new Entrepreneurial Initiative has board members from the Callaway Bank, Westminster College, and other local businesses represented. Hackmann said the diverse group will further advance economic development programs.

"We think we are ahead of the game in terms of having some of those resources already in the community," he said.

The Callaway Bank is offering to give new downtown business owners two percent of the purchasing loan cost to new businesses for two years. The two percent initiative will be given to businesses to enhance physical improvements, upgrade equippment and stock inventory.

The initiative board plans to release more information about mentoring programs, recruiting and a possible innovation center in the new year.

More News

Grid
List
KANSAS CITY (AP) — A Kansas City woman who pleaded guilty to second-degree murder in the death of her 2-year-old... More >>
1 hour ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 11:10:23 PM CDT in News
COLUMBIA — A 22-year-old man was taken to the hospital with non-life threatening injuries Friday after he was shot twice.... More >>
2 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 10:52:00 PM CDT in News
CAPE GIRARDEAU (AP) — A man has been arrested and charged in the death of a man whose body was... More >>
4 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 8:15:25 PM CDT in News
JEFFERSON CITY — Gov. Jay Nixon declared a state of emergency Friday as severe storms could bring more flooding throughout... More >>
5 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 7:38:00 PM CDT in News
CASSVILLE (AP) — Authorities in southwestern Missouri say an 8-year-old boy has drowned in a creek. The Missouri State... More >>
6 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 6:34:00 PM CDT in News
COLUMBIA — Local troopers remind Missouri residents what's important this Memorial Day weekend while on waters. The Missouri State... More >>
6 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 6:01:00 PM CDT in News
JEFFERSON CITY (AP) — Missouri mega-donor Rex Sinquefield is pouring millions of dollars into political committees before the Aug. 2... More >>
7 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 5:44:00 PM CDT in News
KANSAS CITY (AP) — A Kansas City, Missouri, man is accused of assaulting a female city animal control officer and... More >>
7 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 5:28:51 PM CDT in News
COLUMBIA — A pursuit that ended with a wrong way crash on Providence Road on Wednesday morning led to charges... More >>
8 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 4:13:00 PM CDT in Target 8
JEFFERSON CITY (AP) — A prominent GOP political donor is again supporting Lt. Gov. Peter Kinder as he runs for... More >>
9 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 3:50:00 PM CDT in News
JEFFERSON CITY — Missouri Attorney General Chris Koster warned consumers on Friday about Internal Revenue Service (IRS) scam calls. ... More >>
9 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 3:35:00 PM CDT in News
BOONE COUNTY — Boone County residents can now find out more than ever about who's detained in their county's system,... More >>
9 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 3:16:00 PM CDT in News
OSAGE COUNTY — Ron Dishman has officially taken over as the Sheriff of Osage County after Michael Dixon stepped down... More >>
9 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 3:11:00 PM CDT in News
COLUMBIA — Missouri public schools are expected to have higher summer school attendance rates this year, yet some officials worry... More >>
10 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 2:36:00 PM CDT in News
SPRINGFIELD – United States Attorney Tammy Dickinson announced that James Laughlin, the owner of the 4-J apartment complexes in Pulaski... More >>
12 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 12:44:00 PM CDT in News
CAMDENTON – Chelsea Rae Ellis, a 28-year-old, was arrested after the Camden County Sheriff’s Department reported discovering drugs in her... More >>
13 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 11:53:00 AM CDT in News
MEXICO – Attorney Jacob Shellabarger announced Gary D. Johnson Senior, of Mexico, MO, was sentenced thirty years for child sex... More >>
13 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 11:35:00 AM CDT in News
COLUMBIA - The University of Missouri announced Friday MU Law School Dean Gary Myers will resign effective Aug. 14. In... More >>
13 hours ago May 27, 2016 May 27, 2016 Friday, May 27 2016 Friday, May 27, 2016 11:31:00 AM CDT in News
Columbia, MO
Broken Clouds 67°
1am 68°
2am 67°
3am 67°
4am 67°

Select a station to view its upcoming schedule:

Coming Up Next

12:37a
Last Call with Carson Daly
1:07a
The Insider
1:37a
Access Hollywood
12:30a
The King of Queens
1:00a
The King of Queens
1:30a
Seinfeld

Tonight's Schedule

7:00p
King Kong
7:00p
Family Guy
7:30p
Family Guy
8:00p
Bob's Burgers
8:30p
Bob's Burgers
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld