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Successful Business Incubators

Business incubation is a system that supports startups by proving resources and basic business services. Startups need to think of cost effective alternatives for their various business processes because finance is the most important factor for them. Working from home is not an option for many entrepreneurs hence renting and other set up for supporting the business becomes necessary. Business incubation provides an ideal solution for such entrepreneurs.

Business incubators provide the following services:

  • Office spaces for low lease/rent
  • Regular office supplies, telephone answering machine, fax, etc…
  • Insurance plans
  • Business reference system
  • Help find funding

According to National Business Incubation Association (NBIA) “A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies.”

Business incubators provide a wholesome support system to small business startups. It is important to identify your needs clearly and choose the one that offers you the best services for your needs. Your business must be in a position to work independently and any point of time in your association with the business incubator. The business owner must look at the incubator as guidance and consult them for various processes. The ultimate decision needs to be made by the owner.

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