New East Side business center opens to get entrepreneurs’ ideas off the ground. Here’s how
A new incubator space to support small business startups in Kansas City is opening this week at 5008 Prospect Avenue on the East Side.
The new business center run by Generating Income for Tomorrow (G.I.F.T.) will offer in-house banking, marketing and legal services to entrepreneurs at all stages. It will also include a photography studio and co-working space.
G.I.F.T is hosting a grand opening event on Tuesday at 3 p.m., and the center will be open to provide free services to the public on Friday, April 1.
CEO and Co-Founder of G.I.F.T. Brandon Calloway said Tuesday’s event will be a chance for community members to tour the new space and see what G.I.F.T. has in store.
There are no guidelines that people need to meet in order to receive services, however, G.I.F.T.’s ultimate goal is to close the racial wealth gap in Kansas city by reaching aspiring Black and brown business owners who have been traditionally underserved.
“We have intentionally placed the business center on Prospect so that we can make sure that we are closest to the entrepreneurs that may need us the most,” Calloway said.
“Access is a huge part of equity. So if these services continue to not be accessible in the urban core, specifically by Black and brown entrepreneurs, then that lack of access is just another barrier.”
What services will be available?
G.I.F.T. has a number of partners who will be helping to provide technical and business services. Husch Blackwell will provide legal services. OCD Financial will offer accounting services. VMLY&R will help people with marketing, and G.I.F.T.’s team will help with business coaching, headshots and product photos.
Bank of Labor and Lead Bank will offer in-house banking services as well so people can remotely open up bank accounts from the business center.
“I’m excited about this being an opportunity to deepen the banking relationships with the urban core community,” Calloway said. “There’s not a lot of banking presence east of Troost, and definitely not east of Prospect. So people will be able to come in and open up bank accounts remotely.”
How to receive free business services?
The center will serve as a one stop shop of sorts, and Calloway said people can just walk in and get support.
“Somebody can come in off the street and sit down with a business coach, get their business plan put together, and then they can walk over to their accountant and get their QuickBooks, their bank accounts and all of that set up and connected,” Calloway said.
About G.I.F.T. KC
G.I.F.T. was founded in 2020 with the goal of closing the racial wealth gap here in Kansas City. To achieve this, G.I.F.T. awards growth grants and start-up grants to small Black-owned businesses and provides the same kind of services that will be available at the business center.
Each month the organization awards two businesses grants ranging from $10,000 to $50,000. Grant recipients must meet certain criteria to qualify, and Calloway said each month G.I.F.T. receives over 100 grant applications for its two monthly grants.
“This (business center) is an answer to that constant question of, you know, what else can we do?” Calloway said. “What are other things that we can do to help those other 98 (applicants)?”
How can I donate?
To donate to G.I.F.T.’s programming, you can visit here to become a monthly donor. You can also text to give by texting “GIFTKC” to 244321. Donations can also be mailed to 325 E. 31st, Kansas City, Missouri, 64108.
“I think it’s important for the people to know that all of the work that we do is usually only made possible because of the individuals and people in the city that decide to give,” Calloway said.
Do you have other questions about starting a business or supporting other local businesses in Kansas City? Ask us at kcq@kcstar.com or use the form below.