#United States #Frederick #Truist Foundation #Downtown Frederick #Retail Incubator

A New Era for Entrepreneurs in Downtown Frederick

The Downtown Frederick Partnership has announced an exciting development for aspiring entrepreneurs with the launch of the first-ever Retail Incubator in Downtown Frederick, MD. This initiative is made possible through a generous grant from the Truist Foundation, aimed at fostering diversity and support for small businesses in the area.

Supporting Emerging Entrepreneurs

The Retail Incubator will be situated at 22 S Market St, embedded within the historic Federated Charities building. This facility is uniquely designed to accommodate three participant businesses at a time for a period of up to 12 months. It offers these burgeoning enterprises an affordable retail space coupled with shared operational resources, mentorship, and hands-on business training. This model allows participants to test and develop their business ideas in a supportive environment with significantly lower risks.

Kara Norman, Executive Director of Downtown Frederick Partnership, articulated the program's objective by stating, "This incubator advances a key goal... to cultivate new retail entrepreneurs from idea to implementation while diversifying ownership and offerings downtown." The initiative directly addresses the crucial need for accessible pathways into physical retail spaces, especially for those who have been historically underrepresented in the business community.

Collaboration with SOUL Street

In an innovative move, the incubation program will be managed in collaboration with SOUL Street, a local collective of Black business owners and community leaders dedicated to promoting entrepreneurial success among underrepresented demographics. SOUL Street's involvement is pivotal, as they will oversee the daily operations, coordinate training sessions, and assist participants in transitioning into sustainable business models.

Catherine Dorsey, Board President of SOUL Street, expressed her excitement regarding the partnership, noting that the incubator space offers vendors not just a venue to showcase their products, but importantly, access to vital training and resources that support long-term business success. "This incubator space provides a unique... opportunity... for vendors to showcase their products, reach a new customer base,” she said.

Community Support and Financial Backing

The Retail Incubator also enjoys additional backing from Frederick County's Office of Economic Development and the City of Frederick's Department of Economic Development which contribute both financial and operational support. Frederick County Executive Jessica Fitzwater lauded the initiative, stating, "This effort directly addresses a recommendation... to support retail incubators." She emphasized that this program aligns with the aim to bolster the local economy by nurturing inclusive entrepreneurship.

Comprehensive Business Development

Participants in the incubator will benefit from a robust business development framework that extends beyond just physical space. They will receive personalized counseling from both SOUL Street and the Downtown Frederick Partnership, coupled with access to training and resources from various local partners. This unique approach combines real-world retail experiences with professional insights to pave the way for sustainable business growth.

As Mayor Michael O'Connor noted, the Retail Incubator represents a future-oriented vision for Frederick, one that lowers barriers and embraces a diverse entrepreneurial landscape. He stated, "By investing in emerging business owners... we are strengthening our local economy, energizing our downtown, and ensuring Frederick continues to be a place where innovation and inclusion move forward together."

Enriching the Local Economy

The overarching aim of this Retail Incubator is not only to launch new businesses but also to contribute to the long-term economic vitality of Downtown Frederick. As participants conclude their time within the incubator, they will be better prepared to either open their own standalone locations in Downtown Frederick or expand their enterprises in alternative directions. The initiative is expected to introduce a richer diversity of products, cultures, and experiences to the local retail scene, thereby enhancing the vibrancy of Downtown Frederick as a competitive destination for shoppers.

Bernita Bailey, Truist's Maryland Market President, expressed the foundation's commitment to supporting small businesses: "At Truist, our purpose to inspire and build better lives... comes to life when we invest in entrepreneurs." The Truist Foundation seeks to empower all types of small businesses, making them a proud supporter of the Downtown Frederick Retail Incubator.

Application Process

Aspiring entrepreneurs interested in participating in the Retail Incubator will be selected via an open application process, with the first round expected to commence in the spring of 2026. Updates and additional details will be available on the Downtown Frederick Partnership’s social media channels and website.

For more information about the initiative and how to apply, visit downtownfrederick.org.

Conclusion

With its strategic goal to support underrepresented entrepreneurs and foster a thriving business community, the Downtown Frederick Retail Incubator stands to become a key player in the region's economic landscape. This innovative initiative not only aims to launch new ventures but also contributes to creating a more inclusive and vibrant downtown experience for all.