FREQUENTLY ASKED QUESTIONS
The Huntsville Small Business Incubator is a program. Participation
in this program includes rental space in the center. Below is information
on program participation.
WHAT IS THE SELECTION PROCESS?
• Complete an application. Applications may be secured online or by calling the HSBI office at 256.519-2084.
• Complete a business plan. Assistance with your business plan can be secured from several organizations.
• Submit your business plan, along with the completed application. If either are incomplete you with be contacted for further information. Your business will not be considered for admission until all information is complete.
• Staff will review your plan and application. If either is incomplete you will be asked for
additional information.
• The board of directors will make a final decision regarding your business' acceptance into the program.
WHAT IS THE SELECTION CRITERIA?
Preference is given to businesses that meet the goals of the incubation program.
• Reduced rate of unemployment
• Economic growth and development
HOW LONG IS THE INCUBATION PERIOD?
• Participants (clients) may stay at the Center a maximum of five (5) years.
• Annual lease renewal will be option of the board of directors based on
recommendation from the center's director
WHAT KINDS OF BUSINESSES ARE ELIGIBLE?
• Start-up or existing businesses
• Corporate, partnership or sole proprietorship
• Developed product or service
• For-profit and non-profit
WHAT TYPES OF INDUSTRIES
ARE INCLUDED?
• Service related
WHAT ARE TENANT REQUIREMENTS?
• Business operating permit
• Furnishings and equipment
DO I HAVE TO STAY ONE YEAR?
• No, you may terminate with a 60 day written notice
CAN MY PARTICIPATION BE TERMINATED IN LESS THAN A YEAR?
• Yes, with a 60 day written notice
