SIDNEY — Earlier this year the Sidney-Shelby Economic Partnership (SSEP) conducted a business incubator survey to explore ways to encourage entrepreneurship and innovation in Shelby County. The survey was constructed to analyze the feasibility of the prospective incubator as well as determine the potential uses and needs of the community. Local small business entrepreneurs and community members were surveyed to determine the overall interest in an incubator in Sidney, Ohio.
The survey was developed and distributed in partnership with the SSEP which is well connected to local businesses and entrepreneurs. Ten total questions were used to determine the demographics of the respondents and their input on the idea of a new incubator, as well as the areas of business that local entrepreneurs desire the most assistance in. Overall, there were over 60 respondents that answered the survey and provided feedback. The bullet points below help to summarize the answers received by the community:
• 87.5% of the total respondents answered that they already own a business or have a desire to start one.
• 72.7% of the respondents live and work in either Sidney or Shelby County.
• 38.5% of respondents stated that the type of new business that they would start is a service or professional business while 18.4% answered that they are not interested in starting a business.
• 48.8% of all respondents answered that they require financial assistance. 44.2% answered that they require business planning assistance and 30.2% of respondents stated that they require accounting and legal services assistance.
• 30.2% of all respondents answered that their companies need access to capital.
• 66.7% of all respondents answered that they do not need access to co-working spaces or business equipment for their current business.
• 59% of all respondents answered that they would be willing to pay for the services provided by a business incubator.
• 53.2% of all respondents would be interested in locating their business within an incubator in downtown Sidney.