Need Help Hatching Your Business?

If so, you might want to look for an incubator. Just as the ones for eggs help bring chicks into the world, business incubators help brand new companies survive and grow during the start-up period (when these companies are most vulnerable).

Incubation programs come in many shapes and sizes, says the National Business Incubation Association (NBIA). Typically, they provide education, training, resources and shared work space. Almost all North American incubators are non-profits, with more than half sponsored by academic institutions or economic development organizations.

While most incubators are either “mixed use” or technology oriented, a few focus on niche markets. As this AARP article reports, Josie Lamonaco, 58, launched her Sicilian cookie business with the help of The Starting Block, a kitchen incubator in Hart, Michigan for nascent food businesses.

If you’re interested in joining an incubation program, expect to submit a business plan.  Also, be aware that most tenants are expected to “graduate” in three to five years. NBIA’s website has many resources, including this search tool you can use to locate an incubator near your area.

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About Lynne Strang

I'm a communications consultant and writer who blogs about 40-and-older business owners. I am also the author of "Late-Blooming Entrepreneurs: Eight Principles for Starting a Business After Age 40." Outside of work, I enjoy reading, cooking, vegetable gardening and exercise (especially cycling).
This entry was posted in Business, Career Changes, Careers, entrepreneurs, Entrepreneurship, Leadership, Retirement, Success and tagged , . Bookmark the permalink.

13 Responses to Need Help Hatching Your Business?

  1. I do like your new header. I can share this info with nephews–young–but still interesting to be aware about.

    • lbstrang says:

      Hope this information helps your nephews. Incubation programs may be good options for all kinds of entrepreneurs, regardless of their age.
      P.S. The new header is a photo I took of Traverse Bay during this summer’s Michigan vacation mentioned in a previous blog post.

  2. I recently graduated with a diploma on proofreading and editing from the New Zealand Institute of Business Studies. I need to proofread/ edit manuscripts. But I don’t know how or where to start.

  3. Thanks very much Ibstrang. I shall find out.
    Would the link you gave help me? Because, proofreading can be done online.

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