What are Business and Kitchen Incubators?
Business incubators accelerate the development of entrepreneurial businesses through an array of business support resources, services and low cost rent. The objectives of business incubators are to transform early stage small businesses into successful, sustainable and financially viable businesses capable of operating within a traditional commercial environment.
Business Incubators are an economic development facility that unites the characteristics of entrepreneurship, business facilitation and property development. Business incubators have demonstrated to be one of the most effective means for creating employment, starting and commercialising new products and services and improving local economies.
Business Incubators are guided by a number of factors. They:
- focus on encouraging, nurturing and growing successful businesses
- operate as self-sustaining businesses
- provide value added services to meet the needs of their client businesses
- offer low cost, flexible leasing agreements
- offer specialised business advice
- play a role in developing local economies and creating employment