Braintree Grows Small Businesses

Written by Bob Leach    Friday, 27 July 2012 11:56 MANSFIELD -- Mansfield industries have been in a state of flux since many of the city's top manufacturers and employers closed their doors. The 2010 departure of Ontario's General Motors stamping plant left numerous entrepreneurs uncertain about their businesses and residents worried more jobs would follow the leading industries out of the county.One area of local optimism can be found at the Braintree Business Development Center. Previously titled the Mansfield-Richland Incubator Inc., Braintree has been helping generate and grow small businesses for 25 years. It houses 12 budding companies in its 80,000-squarefoot facility on East Fifth Street and assists nearly 200 others each year. "We're trying to accelerate an entrepreneurial culture here," said Bob Leach, director of operations.The organization walks entrepreneur hopefuls through the idea, development and production stages of starting a business to ensure companies with useful services can survive and thrive in north central Ohio.Braintree's services are separated into four components that work simultaneously: business incubation, business counseling, networking and education, and capital access. "Anything to do with starting a business we know, or we know people that know better than we do," said Barrett Thomas, program manager.Business incubationAmong the graduates of Braintree are Mansfield-based companies Goyal Industries, a passenger railcar manufacturer founded in 1988; Hess Industries Ltd., a tool and die shop founded in 1999; and Graywacke Engineering Inc., a product design company founded in 2009. Together the three companies have brought around 40 jobs to the Mansfield area. More recent graduates of the incubation program include Cahara Fluid Power Inc., a sale and repair shop for hydraulic hoses and cylinders, and Integrated Business Solutions, a full-service bookkeeping firm.To graduate from the Braintree incubation program, the businesses must be selfsufficient, stable and no longer require day-to-day use of Braintree services. The process usually takes anywhere from two to five years, Leach said. Braintree is looking to help more technology-based businesses develop and grow jobs. "They grow quicker and become more profitable," and also offer higher-paying jobs, Leach said. "Mansfield has always had a rich history of manufacturing technology, but the 21st century technology has moved far beyond that." Technology-based businesses can include advanced manufacturing, alternativeenergy, information technology, bioscience, agriculture/food processing, and international trade, Leach said.Braintree is one of 12 business incubators supported by the Ohio Department of Development, and each has its strengths, Leach said. The organizations often work together to give customers the best advice in the start-up process. "We leverage whoever's expertise is bestfor the situation," Thomas said. Braintree also assists with the North Central State College incubation program at the Urban Center in Mansfield. If a business grows too big for the Urban Center's incubation space, they can move the operation to Braintree.Counseling, networkingOne of the most vital services Braintree provides during the incubation process is business counseling -- critiquing business models, tweaking marketing plans, connecting participants to experts and discussing financing."We take people with an idea -- but maybe they're not sure what to do with it -- and we walk them through the entire start-up process," Leach said. "Counseling is a huge part of the incubation process. It's more than just giving them a space to start."Braintree offers low-cost space to start a business, and its services are open to more than starter businesses. Lately, Leach said, Braintree has been working with existing businesses to develop new marketing tools to remain viable. Central to the counseling provided is thewide network base companies can tap into when working with Braintree. If advisers don't have the answer, they likely know someone who does. Clients can access Braintree partners for resources in funding, education, expert advice and the design of low-cost business models."The networking is as important as anything else we do," Leach said.The organization also offers an informal Caffeinated Ideas community support gathering every fourth Thursday of the month. Entrepreneur hopefuls can pitch their business ideas, get free advice and support one another in the start-up process.Capital accessBeyond developing an idea and nurturing it to the production stage, what most startup businesses need is funding. Braintree can help there, too. The organization has loaned around $150,000 to businesses in the last 18 months, Thomas said. It's not just new companies getting the funds; existing companies may apply, too. Thomas said it's his job to help secure loans where banks usually won't -- most banks require two years of business history before lending money, he said.Braintree offers funding through two different subsets: the Tech Sprout Grant Program and Appleseed Microfinance. The Tech Sprout Grant program is designed to give businesses a financial nudge through minor grants to take their ventures to the next level. Grants range from $2,000 to $6,000 and can be used for prototyping, patents, testing and outside experts.The Appleseed loans support businesses that need extensive financial support to get started -- loans range anywhere from $1,000 to $35,000. These funds are often used for equipment, inventory, business debt restructuring, project-based working capital and short-term projects.Appleseed's job is to "get businesses to the point where they're bankable," Thomas said. All loans serve as an investment, giving businesses the funds they need to get started, develop a line of credit and build a history. "You have to create wealth to create jobs," Thomas said. This e-mail address is being protected from spambots. You need JavaScript enabled to view it 419-521-7205

Braintree Grows Small Businesses
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