For the last several years, the Aberdeen community has put an emphasis on updating and remodeling the downtown region. The ultimate goal is to create an atmosphere similar to that of a larger city’s downtown area such as Fargo and Sioux Falls. It will be a place that is vibrant and buzzing with the sound of people of all ages going about their business in a variety of new stores and restaurants. The Aberdeen Development Corporation (ADC) and the Business Improvement District (BID) have partnered on a program that will take the next step in making that dream a reality.
Titled the Business Startup Funding Program (or BSFP), the goal of the program will be to, “create a spirited business mix in the downtown area by sustaining new business concepts while filling vacant spaces within the BID. Essentially, we are simply trying to make the startup process easier for small businesses that might just be getting going or are transitioning to a new building space,” explained CEO of the Aberdeen Development Corporation Mike Bockorny.
The philosophy behind the BSFP is quite simple. Any new business that is in its initial startup process will receive valuable assistance from the program. The first form of assistance will be through subsidized rent for the first 12 months of any space rented within the BID. Other perks for businesses in the BSFP include: training, educational programming, and mentorship for guidance through the startup process. A BSFP Committee has been established to review applications for businesses interesting in the program. Anyone who may be interested in applying must submit an application and a written business plan including financial projections for their potential business.
*For questions regarding the BSFP or to apply, contact Jill Vining at (605) 229-5335.