Create a Small Business & Technology Incubator

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Create a Small Business & Technology Incubator

When a person decides to take a leap of faith and start their own business, they shouldn’t have to decide if they have to move to Atlanta, Birmingham, or Chattanooga to do so. Etowah County should have the resources available right here to build a successful business. Business incubators exist to accelerate the successful development of entrepreneurial companies, from technology to manufacturing, through support services and guidance. A business incubator’s main goal is to produce successful companies that leave the program financially viable and freestanding. Therefore, incubator graduates create jobs and strengthen local economies.

Support is provided in two main areas:

Business Assistance – Incubators accelerate emerging companiesí development by providing hands-on assistance during vulnerable start-up years. Assistance typically takes the form of a package of business and technical support services including guidance and mentoring on business strategy, management, marketing, financial, legal, and product development issues as well as facilitated exposure to a ìknow-how networkî of outside business resources and sources of capital.

Facility-Based Services – Locating entrepreneurs in one facility creates opportunities to lower costs associated with supporting a new business. Incubators usually provide office space to a number of complementary businesses. Incubators offer flexible leases, shared use of conference rooms, reception, and other common areas. Incubators provide emerging businesses with an infrastructure of telephone, local area network and Internet services along with shared use of basic business equipment such as copier, fax machine, postage meter, and other office equipment. An incubator can give a new company a much-needed visible identity to help promote its offerings and find funding or investment capital.

Skills

Posted on

April 17, 2017