Photo courtesy of www.pedbikeimages.org
/ Dan Burden
The goal of business incubators is to increase the success rate
of new businesses by providing technical support and reducing
startup costs. Incubators generally offer low-cost lease space
and/or reduced overhead expenses to new businesses by offering
a way to share expenses for marketing, utilities and other operations.
Firms sponsored by incubators can benefit their host communities
by hiring local labor and buying supplies locally. State and local
economic development agencies, not-for-profit organizations, chambers
of commerce, colleges and universities, and private corporations
can all operate incubators.