About BEACON

In 2019 New Hill Development Corporation (New Hill) conducted extensive community engagement as part of its engagement around the creation of a Vision Plan for the Starr Hill community in Charlottesville, VA. Born out of that plan was the idea to create an incubator for Black-owned businesses. In 2020 New Hill began its journey to develop the Black Entrepreneurial Advancement & Community Opportunity Network (BEACON). BEACON is a business incubator and accelerator to advance opportunities for Black entrepreneurs.

The BEACON project will help advance financial opportunity in the food space by increasing skills, removing financial barriers to entry, protecting individual’s financial future all while encouraging the growth of the dream.

Problem

The former Vinegar Hill community was not only a residential area, but also a place where culturally aligned businesses could thrive by serving local residents.

The state of Black-Owned Small Business in America, a report by the Small Business Committee in the US Congress. showed 41% of Black-owned businesses permanently closed as a result of the pandemic. The report further states, prior to 2020, Black-owned businesses faced three major problem: Access to capital, mentorship gap, and inadequate access to business opportunities.

Through multiple focus group discussions held in 2019, Charlottesville’s Black entrepreneurs expressed the need for three things: lower startup costs, professional support services, and access to capital.

Solution

New Hill is a Black-led community development organization focused on promoting and supporting the economic well-being within the Charlottesville Black community. We intend to support economic development by connecting residents to higher-paying jobs, helping to expand entrepreneurial enterprises, and offering affordable space for storefront businesses to put down roots in the midst of the communities they serve.

We are establishing reliable Black business incubation and training programs. We offer affordable participation fees and commercial rental prices for businesses to grow within a supportive environment.

Introducing the new Black Entrepreneurial Advancement & Community Opportunity Network (BEACON).

Key Services to be Offered

Retails and Office Space Rental

Affordable space in a property managed by New Hill that will cater to the needs of Black entrepreneurs.

Commercial Kitchen Access

Providing culinary entrepreneurs in Charlottesville a convenient location and valuable access.

Co-Working Spaces

Flexible working spaces for entrepreneurs in Charlottesville to save on office space costs.

Back-Office & Technical Support

Trained professionals supporting businesses with bookkeeping, payroll, and marketing.