![]() Incubators differ from business accelerators in relation to the maturity of the companies they serve: incubators support companies that have just launched and are still refining their products and operational models, whereas accelerators are more likely to focus on companies that are scaling up. In addition to their other benefits, incubators help reduce the cost of launching and operating a startup by 40-50%. Incubators may be funded by the government, supported through membership fees, or provide support in exchange for equity in companies. ![]() What is a Business Incubator?īusiness incubators are organizations and programs that give very early stage companies access to mentorship, investors, start-up funding, shared office space, and technical resources to help them get established. In fact, companies nurtured in a business incubator have a survival rate of 87%, much higher than that of unassisted companies. These strategies include taking advantage of resources provided at a local business incubator. ![]() What is also clear, though, is that there are strategies that can help make sure your business is one of the successful ones. About 30% of small businesses won’t survive longer than two years, and 50% won’t survive longer than five years, according to a study by Industry Canada. It’s abundantly clear that running a small business can be risky and the ongoing pandemic has only added to that difficulty.
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