Save Money and Get Help in an Incubator

If you don’t plan to start your business at home using
the dining room table, consider starting your business
in an incubator.

by Vicki Gerson NFIB.com

Intended to be a nurturing environment
for new businesses, a business incubator is an office
space divided into small units that are leased to
businesses in the early stage of development.
Businesses generally stay in incubators until they are
financially stable. Once a business can stand on its
own feet, the owner is encouraged to move to a typical
office or small warehouse building.

While sharing an office space with other new
enterprises may not seem ideal, there are numerous
advantages to starting your business in an incubator.

*Financing options: Incubators often offer some kind of
access to capital. But just because you want to move to
an incubator building for the financial gain, be
forewarned. You and your business ideas are screened.
Potential lenders, investors and venture capitalists
determine if they think your business will be
successful.

*Networking advantages: An incubator environment
provides an excellent opportunity to network, form
strategic alliances and share sales leads. It also
provides the start of your networking experience, which
is crucial to the growth and success of your business.

*Affordable rent: Rents in an incubator are generally
below what you would pay for rent in an office building
or a warehouse. In addition, when a business owner
selects an office elsewhere, he or she has other costs
that are either built into the rent or itemized. For
example, the tenant may have to pay a share for snow
removal, landscaping services and office cleaning.

*Sharing equipment and services: In an incubator
environment as a new business owner, you can share fax
and copy machines and telephone answering service. If
you need professional business services, some incubator
buildings even have bookkeeping services.

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