Creating or preserving permanently affordable commercial space is not always the most feasible or immediate option for mitigating the small business displacement that comes with commercial gentrification.
Another way to address this problem is by supporting alternative business models that reduce start-up or overhead costs, providing culturally appropriate local businesses the opportunity to innovate, thrive, and stay in the community, all without breaking the bank.
- Co-Working Spaces
A co-working space is a shared office space where multiple businesses all work together under the same roof. As commercial rents increase, lower-cost co-working spaces may provide an alternative solution for businesses owners that are looking for affordable leases.
- Pop-Up Spaces and Mobile Vending
Pop-up spaces make use of existing venues to set up temporary public gathering places, retail stores, restaurants, art installations, and many other uses. These spaces, along with mobile vending opportunities like food trucks, give small business owners and entrepreneurs a chance to start or expand their businesses with lower overhead costs. In addition, these innovative and flexible business models can help revitalize struggling retail districts by activating empty sidewalks or vacant storefronts.
- Business Incubators
Business incubators use a master lessor leasing model to foster business development by providing low-cost commercial space, as well as technical assistance and training. Incubators are dedicated to helping startup companies succeed, which may create new jobs for community members and ensure that culturally-appropriate, locally-owned businesses have a space to develop and grow.