A Small Business incubator program is a support system designed to assist entrepreneurs and small business owners in developing their businesses, typically during the early stages. A business incubator provides affordable office space, professional services (such as legal, accounting, and marketing), access to financing or funding opportunities, business training and mentoring, and networking opportunities to help entrepreneurs grow and scale their businesses. The objective of a small business incubator program is to provide assistance and support to increase the success rate of startup and early-stage companies, typically in a shared workspace environment.
Entrepreneurs who participate in small business incubator programs receive benefits including access to resources to develop their businesses, funding opportunities, and also have the opportunity to network with experienced entrepreneurs and investors. Additionally, small business incubator programs are usually structured to offer flexible support systems, allowing entrepreneurs to pay for only the resources they need, thus saving money on operating costs while still receiving comprehensive support services.