Craig's Corner - Wealth Planning Insights

Sunday, February 21, 2016

Carson City a Magnet for Start-ups

What is the status of the Adam’s Hub Incubator?

Starting a new business involves a number of considerations, such as choosing the right business structure and protecting the business from legal claims, as well as attracting customers. Along the way, small business owners and entrepreneurs often rely on the advice and support of a wide range of individuals and entities with a track record of business success.

Carson City’s Start-Up Incubator

Now, Carson City’s Adam’s Hub start-up incubator is providing a “centralized hub for start-ups and  support for small businesses and individuals,” according to the hub’s chief professional officer, Miya McKenzie.

 The purpose of the hub is to provide an environment for start-ups to launch and then move out once the business if off the ground. Adam’s Hub has grown into an 8,200 square-foot facility that features over a dozen private offices, four high-tech conference rooms, and open work space for virtual businesses, even shared kitchens, office equipment, showers, lockers and post office boxes. The goal now is for the hub to expand its client base.

The hub offers small business counseling from Carson City’s business managers, advice on funding alternatives, open areas to workers, as well as services for so-called soft skills, such as interviewing and resume writing. Based on results from the first year, Adam’s Hub is proving to be a successful venture as it is taking on more space downtown and attracting a variety of new business entities.

Members of Adam’s Hub

The hub offers three types of memberships:

  • Dedicated office clients, who pay $500 per month for a private office, mentoring and shared services
  • Virtual clients, who pay $250 per month for open workspace, mentoring and services
  • Co-workers, who pay $150 a month to work in the common area and use shared services

 Adam’s Hub relies on 40 volunteer mentors who provide guidance to both the office and virtual clients, and mentoring is the leading reason for the hub’s appeal. These mentors are entrepreneurs who offer advice on matters like trademark law and on understanding how to attract angel investors. Clients can also apply for pre-seed funding in amounts up to $25,000, and the hub plans to expand its funding capabilities. By partnering with other Nevada-based organizations, the start-up incubator plans to expand its range of services to include providing advice on marketing.

While the hub is opening new doors for start-ups, small business owners and entrepreneurs also need to understand the risks associated with a particular business ventures, and the complexities involved in acquiring seed capital. If you are starting a new business, it is essential to engage the services of a qualified attorney with expertise in business development.

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S. Craig Stone II of Stone Law Offices, Ltd. serves clients throughout Clark County, Southern NV, Las Vegas, Henderson, Boulder City, North Las Vegas, Summerlin, Carson City, Reno, Washoe County, and Nye County. Also serving clients with asset protection nationwide.

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