FULTON, KY. (March 15, 2024) – Community Ventures, the Twin Cities Chamber of Commerce, and Fulton Tourism will hold an informational meeting to introduce a new small business incubator in Fulton called “Ventures Village.” The village aims to support the growth of small businesses by providing affordable, high-traffic commercial storefronts and training for local artisans.
“Launching the Ventures Village project is our latest effort to collaborate with community partners to strengthen the economy in Fulton,” said Brenda Weaver, Community Ventures President of Lending and Western Kentucky Disaster Relief. “I encourage every small business owner to join us at the informational meeting to learn how Ventures Village can provide commercial space, technical assistance, and training to grow their enterprises.”
The informational meeting will be held on Monday, March 18, from 6:00 p.m. to 7:30 p.m. at the Pontotoc Center at 100 West State Line Street. During the free event, community partners will outline the vision, benefits, and plan to develop Ventures Village. Applications to join Ventures Village will also be available at the meeting.
“The Chamber is excited for the opportunity being offered to new entrepreneurs and the possibility of new small businesses here in our Twin Cities Community,” said Sherry Pyatt, President of the Twin Cities Chamber of Commerce. “We also hope to see a benefit to our retailers and restaurants already in the area from the close proximity of the Village.”
Small businesses are the backbone of Kentucky’s economy. According to the 2023 Small Business Administration report 363,068 small businesses existed in Kentucky, accounting for over 42 percent of employment in Kentucky. Sadly, many of these companies struggle to succeed. A study by the Bureau of Labor Statistics estimates that 20 percent of small businesses will fail in the first year, 30 percent in the second year, and 50 percent fail after five years in business.
“This is a true public private partnership,” said Kenney Etherton, Director of the Fulton Tourism Commission. “This village will be a great way to bring in tourism to our community and help support local businesses. It also shows what we can do when we all work together on a project as a team. I look forward to this being a huge boost to our downtown and complementing our farmers’ market.”
To learn more about Ventures Village or to apply, visit cvky.org/VenturesVillage.
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About Community Ventures: Founded in 1982 as a community-based, non-profit organization, Community Ventures (CV) strengthens communities and improves the overall quality of life for Kentuckians by supporting job creation, small business ownership, and home ownership. CV is headquartered in Lexington, with branch locations in Bowling Green, Campbellsville, Louisville, Mayfield, Millersburg, and Owensboro. For 21 consecutive years, CV has been named Microlender of the Year by the Kentucky Small Business Administration.