PALM BEACH COUNTY SUPPORTING KICKSTARTER RETAIL WITH BUSINESS INCUBATOR PROGRAM

With the evolution of technology, e-commerce, or online buying and selling, has become more popular in the retail industry across the United States. It is estimated that 10%-11% of all retail sales for 2018 will be online. With e-commerce sites like Amazon on the rise, retailers are faced with the decision on to remain relevant and profitable in the digital age and e-commerce sites like Amazon recognize the importance of brick-andmortar retail. The good news is that there are still a majority of consumers that do prefer the traditional shopping experience. The ability to sample and see products prior to purchasing and not having to wait for shipping is still appealing to consumers. Retail stores also have the ability to expand to online sales as well as having a storefront. They can utilize their online presence to support in-store customers. To support local retailers, a new incubator program that is aimed at kickstarting the traditional shopping experience has been launched in Palm Beach County called “12 for 12”. This initiative by West Palm Beach Downtown Development Authority and the City of West Palm Beach, is designed to support twelve exciting or new businesses. “12 for 12” will provide two months of free rent for the twelve tenant companies, and then an adjustable monthly rate for up to two years, essential resources, ranging from free or affordable office space to business mentorship and media support, within a planned cluster of storefronts. These storefronts will be located in downtown West Palm Beach in the West Palm Beach Community Redevelopment Agency building on Clematis Street and will include a variety of businesses, from art galleries to clothing retailers. Raphael Clemente, head of West Palm Beach DDA stated, “The idea is to make business ownership more affordable and spur a virtuous cycle that could benefit the community at large.” West Palm Beach Mayor Jeri Muoio stated, “We have made a commitment to expanding the city’s already strong base of small businesses. This incubator space will help get 12 businesses off the ground, creating a new generation of success and prosperity rooted in a highly visible location on Clematis Street.” The twelve tenants for this will be chosen through a competition that is open to new or existing businesses. Apply to be one of the twelve businesses in the “12 for 12” initiative by visiting https://12x12wpb.com.