Business Leader looks at the impact of incubators in the UK helping to support businesses.
Some of the UK’s most successful businesses have been nurtured through the process of an incubator – but what is an incubator and what does the future hold for the concept? This article will also look at the true impact of their introduction to the UK. How are they evolving? And what support do they offer businesses and entrepreneurs?
Incubators come in many different guises, varying considerably in their offerings and areas of focus. In general, they all share the common remit of helping early-stage businesses achieve growth quickly by providing support around office space, mentoring, professional support, subsidised or free professional services and access to funding.
Matt Smith, Director of Research and Policy at the Centre for Entrepreneurs, said: “Incubators are important for closing the skills gap because of the in-house nature of the services which they provide – many offer opportunities to businesses and start-ups to not only develop their businesses but also harness key skills through different services they offer within the incubator space.”
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