hub for entrepreneurs
hub for entrepreneurs
Our education and economic initiatives promote and encourage business ownership by assisting in the launch of entrepreneurial ventures and support start-up to scale-up businesses that create jobs, improve the quality of life, and strengthen the community in Indianapolis’ Near West and central Indiana.
In 2016, Local Initiatives Support Corporate (LISC) designated the Near West/River West a Great Place 2020 neighborhood. The Near West Quality of Life Plan was created by residents and neighborhood stakeholders in response to declining employment and business vacancies in Near West. The Steering Committee identified the need for an entrepreneurship center to serve as a catalyst for economic growth, and SOURCE RW was created to fill that need.
The IUPUI Office of Community Engagement supports the Near West Quality of Life Plan and River West Great Place on behalf of Indiana University by serving as fiscal agent to support the launch of SOURCE RW during the first two years of development. IUPUI provides staffing, planning support, grant management, and funding assistance.
Local businesses and entrepreneurs who wish to capitalize on the Near West’s commercial, retail, and light industrial spaces.
Small business owners who desire to improve and scale their existing businesses.
New businesses and Near West residents who wish to launch their own businesses in River West and/or surrounding areas.
New! Bilingual Business /Services Begin Nov 15th
On Saturday October 14th, SOURCE RW participated in the 2017 Indiana Latino Expo. The expo is best described as Indianapolis’ Latino community’s "key access to the most important areas in the field of Education, Health, Business, Consoler Services, Culture and Sport."2 SOURCE RW was out in full force connecting with local Latino business owners and future business owners.
Our participation in the Indiana Latino Expo comes ahead of SOURCE RW introducing bilingual coaching! Beginning Wednesday, November 15, SOURCE RW will be providing free, bilingual coaching every Wednesday from 1-5 pm. Appointments can be made by calling 317.737.2155. We welcome existing and future Latino business owners needing language assistance for free and one on one business coaching. This new service will not only serve business owners on the Near West, but we look forward to eventually serving as the hub for Latino entrepreneurs throughout Central Indiana.
Hannah Northup, Strategic HR Consultant, NorthupHR
Hannah Northup, Owner of NorthupHR
Regularly, we interview a successful SOURCE RW client to ask how SOURCE RW has impacted their business. This month, we feature Hannah Northup, Owner of NorthupHR and participant of fall '17 Kauffman Business Owners Education cohort.
NorthupHR offers strategic human resource services for the small to mid-size business. On-call and project-based HR services are designed to meet business needs with focus placed on providing excellent service in four primary areas: getting teams up to speed quickly, keeping employees happy, minimizing risk, and helping develop a team's in-house talent while growing the business responsibly.
What made you interested in business ownership?
I've worked as an HR executive for over a decade and was eager to partner with leadership and apply my skills to help them achieve their business objectives. Established HR firms have been growing as Indy's older start-ups mature, and I saw a clear need for services focused on small- to mid-size, growing companies.
How did you learn about SOURCE RW?
I had heard about SOURCE RW and indirectly knew the teacher, Denise Herd. She heard about my business concept and thought this class would be a great fit, and she was right!
What business topics have you addressed thus far?
With just a few weeks into the series, I have already learned the fundamentals of entrepreneurship, how to identify and meet market needs and how best to plan for my services.
What “one” thing stands out that you have learned at SOURCE RW, thus far?
Research is so important to every part of your business whether it is a product or service and making sure you understand that there are resources out there to help you. It was inspiring to learn from my classmates research. I fully believe in the value of quality research and how vital it is to my long term, professional success.
What have you enjoyed most about being a business owner?
I've really enjoyed building relationships with a number of small business owners, and helping them find paths to achieving their goals. I LOVE owning my own time. I definitely have a much healthier work-life balance, flexibility to spend time with family, and much more productive time when I can sit down and focus on my clients.
If you could tell aspiring business owners one thing before their journey - that you had wished you had known prior to starting your journey - what would that be?
I wish I had come to SOURCE RW and taken the Kauffman class so much sooner. Even if you're not ready to start your business, it is important to learn about the start-up process and do your market research early on. Also, unless you are a hyper-growth company with big investors pushing you, don't take debt or recurring expenses until you start generating revenue. That's great advice that some very good mentors shared with me, and I'm proud to have gotten it right.
Overall, how have you benefited from your time at SOURCE RW?
This experience has been amazing and it has been wonderful to have a community of people around me that have either been where I am or are walking the same path with me now.
For assistance, please call 317-737-2155.
Do you want to launch or scale your business?
One-on-one coaching and mentoring is available to provide technical assistance in identifying a viable business model, incorporating a business, creating a business plan and marketing products/services. Most all educational opportunities are either free or at minimal fee.
Monthly business start-up courses on a business owner’s mindset and fund sourcing, quarterly courses on business trends and best practices for existing businesses, and our annual Kauffman Business Ownership Education Series provides a strong foundation.
We encourage entrepreneurship within our neighborhoods and attempt to inspire new, successful businesses to set-up and hire from within the neighborhoods of Indianapolis' Near West. Making the most of the River West Business District.