Launching Your Business at An Incubator

Before launch, new businesses have to hire people; register the business name; formally organize the company as an Sub-S corporation, C corporation, limited partnership or LLC; and get banking services in place. Entrepreneurs also have to set up:

Office space for managers and staff.

Lobby and reception space.

Meeting and conference space (white board, projector-screen capability).

Communications infrastructure (phones, fax, internet).

Computing capabilities (PCs, networks).

Website hosting.

Postal and overnight delivery addresses.

Document processing.

And, most importantly, the venture has to get funded. For most startups, getting everything in place is a major headache. But for many emerging companies, launching at an incubator might be the one-stop solution to all the tasks outlined above.

Incubators are essentially ready-to-go space and support infrastructure for startup companies. They also may have a full-time incubator support staff to help you and your personnel with finance, marketing, sales, IT, strategy and other areas of operations. Under one roof, entrepreneurs can have turnkey access to professional reception and waiting area, mailboxes, parcel pickup, office space, meeting and conference rooms, and access to all the hardware and gadgets needed to conduct daily business.

Remember, a business incubator is itself an entrepreneurial venture, as investors have pooled their funds to secure a large building and outfit the space with its own support team and everything needed for dozens of startups to engage in business. The incubator generates revenue by charging monthly rental-access fees to the tenant companies.

 

Previous

• 1  2  3  

Next