BUSINESS INCUBATION
Small Business Incubation involves dynamic business strategies to help build up strong, viable, companies from an idea and determination. Since starting up a small business can be such a challenge for most, a business incubator is often necessary to help nurture young companies those first few months or years until they have established themselves firmly in the community. The new entrepreneur can look to the incubator for hands-on management assistance, education, information, technical and vital business support services, networking resources, financial advice as well as advice on where to go to seek financial assistance.
The goal of an incubator is not only to
ensure the small business survives the start-up period
where they are most vulnerable, but to produce confident,
successful graduates that are well grounded financially
and secure in their knowledge of how to run a productive
business independently, within two or three years of
start-up. On the average ninety-five percent of an
incubator’s clients graduate, and eighty-seven
percent of incubator graduates remain in business,
according to the ‘Impact of Incubator Investments
Study’, published in 1997, (NBIA). The
resulting community benefits of an incubator are healthy
companies, accelerated job growth and a significant
return on investment for each economic development dollar
spent.
The entrepreneurs emerging from the incubators often prove to be on the leading edge of developing new and innovative technologies, that are affecting society increasingly as they grow, with their quality of products and services. The incubator encourages clients to select a variety of small business to be viable and meet the varied needs of the community, including technology, service, manufacturing, empowerment, specialized and mixed uses, etc.
CABI | 1071 King Street West, Suite 537 | Toronto, Ontario | M6K 3K2
Phone: 416.345.9937 | Fax: 416.345.9044
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w e b m a s t e r