Did you know that as many as two thirds of Poles born after 1990 think about starting their own business? It's worth remembering that business activity is quite a challenge. People who have their own business idea can be helped by the so-called business incubators.

Business incubators — for whom? Ways to start a start-up

Running your own business is a lot of burden, especially in the first years. They can be significantly reduced — business incubators help to survive this period. If a novice entrepreneur fails, then he can give up the company, without losing too much on it. What are the advantages and disadvantages of such an model and how does the cooperation process with the business incubator look like? Let's go through this topic with some key details.

What are business incubators?

Business incubators are separate units that carry out a comprehensive program of assistance for beginners entrepreneurs. These are the programmes that support people with their own business idea from the moment of its establishment to reaching market stability.

 

Business incubators can be entities of various legal forms. There are several specific types of incubators and specific offers are directed to:

  • start-up entrepreneurs from the small and medium-sized enterprises sector, beginning their business
  • youth and students (this is the so-called academic business incubators),
  • subjects of social economy (social business incubators).

The operation of incubators is a full form of support for business projects originators that contribute unemployment reduction and positively affect the professional structure of local communities.

For whom?

To launch a start-up you do not need to be either a student or a graduate. Business incubators are available to virtually everyone, do not set age restrictions and do not require higher education. It is enough to have a business idea and submit it to an appropriate incubator which will help to put the plan into practice.

Starting a company

The beginning, as we mentioned above, is an idea. You don't even need to have a precise business plan — you just need a general outline of action. To start a business, you must first fill in the application form on the incubator's website. The next step is the information meeting and signing up a contract. Usually after 24 hours the entrepreneur is assigned an individual user's account number and access to the invoicing system.

Are incubators an activity without flaws?

Certainly not! As it happens in life, it's often quid pro quo. For those who value self-decision making, one of the biggest drawbacks of such a solution may be the need to consult many issues with the organization. Fact that every document and decision must be checked by incubators is quite obvious — since we can benefit from cooperation, we must also count on greater supervision. However, for those who take their first steps in business — help of an institution such as business incubators is much more useful and consequently possible restrictions should not be a significant obstacle.

How to abandon a business incubator?

When you decide to cooperate with business incubator, you can possess many important skills related to running a business. However, there comes a moment when an entrepreneur decides that he wants to act on his own or suspend his existing business. In this case, no fees are incurred and the termination of the contract takes place with one or three months notice.

In conclusion, it should be said that business incubators are a good tool for testing business before starting it at your own risk. They allow you to set up a business on more favorable terms than those provided by the market. The great success of business incubators is also the fact that they have been appreciated by the Minister of Economy for the best initiative promoting entrepreneurship in Poland.