Business Incubation involves dynamic business strategies to
help build up strong, viable, companies from an idea and determination.
Since starting up a small business can be such a challenge for
most, a business incubator is often necessary to help nurture
young companies those first few months or years until they have
established themselves firmly in the community.
The new entrepreneur can look to the incubator for hands-on
management assistance, education, information, technical and
vital business support services, networking resources, financial
advice as well as advice on where to go to seek financial assistance.
The goal of an incubator is not only to ensure the small business
survives the start-up period where they are most vulnerable,
but to produce confident, successful graduates that are well
grounded financially and secure in their knowledge of how to
run a productive business independently, within two or three
years of start-up.
On the average ninety-five percent of an incubator's clients
graduate, and eighty-seven percent of incubator graduates remain
in business, according to the 'Impact of Incubator Investments
Study', published in 1997, (NBIA). The resulting community benefits
of an incubator are healthy companies, accelerated job growth
and a significant return on investment for each development dollar
The entrepreneurs emerging from the incubators often prove
to be on the leading edge of developing new and innovative technologies,
that are affecting society increasingly as they grow, with their
quality of products and services. The incubator encourages clients
to select a variety of small business to be viable and meet the
varied needs of the community, including technology, service,
manufacturing, empowerment, specialized and mixed uses, etc.
The Toronto Food Business Incubator is a member