WHAT IS A BUSINESS INCUBATOR?
A business incubator is a building with affordable industrial, commercial, and/or office space that offers shared services, assistance, and guidance that helps people start and grow businesses to create local jobs.
WHAT IS A LOCAL BUSINESS CENTER?
A Local Business Center is a multi-tenant building with affordable industrial, commercial, and/or office space that includes options for small and startup businesses. Often, it is a larger building and can include multiple components such as a makerspace, incubator, cowork office, shared kitchen or various combinations that are appropriate to its hometown. The sponsorship of a Local Business Center may be non-profit, for-profit, co-operative, or whatever else may suit that unique situation.
HOW DO I START A BUSINESS INCUBATOR IN MY COMMUNITY?
If you want to start a business incubator, define the community you want to target (geographic, industry, job generators, etc.), clarify your true market opportunity in the context of your available resources and engage with some experienced people to create a plan that establishes a sustainable, self-sufficient program for your unique situation.
WHICH BUILDINGS CAN BE USED AS A BUSINESS INCUBATOR?
Depending on your targeted mission (jobs, wet labs, food, blight removal, etc.), almost any type of (or part of) a building can be employed for business incubator services. Redevelopment of former industrial, commercial, and institutional facilities, as well as new construction, can each be successful as part of a practically designed, integrated plan and program.
WHAT SUPPORT CAN MY BUSINESS EXPECT AT AN INCUBATOR?
Startups and small enterprises throughout the business life-cycle should expect a business incubator to deliver a nurturing environment with low-risk space (small, flexible suites with short-term occupancy commitments) and a curious, experienced team to provide customized guidance and connections.
HOW DO I FIND A BUSINESS INCUBATOR NEAR ME?
You can find a business incubator by searching International Business Innovation Association (INBIA) at www.inbia.org , checking with your local economic development organization or do an online search. Depending on your business, don’t forget to consider co-work (office), makerspaces (workshop) or shared commercial kitchens (food) as incubator-like alternatives
HOW TO CREATE JOBS IN MY COMMUNITY
Get started NOW and encourage LOTS of people to start businesses of all sorts (makers, retail, service, food, whatever). Business incubators, hometown revolving loan funds, and storefront homestead programs are just a few of the ways you can use local resources to promote prosperity for your neighbors.
HOW DO I PAY FOR COMMUNITY DEVELOPMENT?
Every place has a unique collection of resources (people, location, transportation, real estate, climate, and more) and history. Clarify your town’s opportunity and strategically coordinate your assets to achieve your objectives. Empty and underutilized buildings are a strong starting point. Creative revitalization of these structures can often serve the dual function of attracting job-creating businesses and funding the community development effort to attract and support them.
HOW CAN BROWNFIELDS GROW COMMUNITY JOBS?
Businesses that create jobs need building space for the people who work there. Manufacturing, office, service, entertainment, food, and any other enterprise that employs people needs a place for them to work (including houses, coffee shops & apartments). Many of our hometowns contain former factories, department stores and other commercial/institutional structures (brownfields). Finding ways to reuse the empty properties in your geography to provide affordable, nurturing environments for entrepreneurs is a proven path to attract economic activity. Often faster and less expensive than “green field” new construction, these existing buildings offer the opportunity to create a business “magnet” in your community.