Business Incubators

Supporting New Business

Generally business incubators will provide financial support, office space, managerial advice, administrative support and introductions to a range of specialised service providers such as accountants, lawyers and marketing experts.

As a tenant of the Incubator, you have access to these services, often for a small fee (or for free) as a part of their service to help support small business growth.

A good example of this is an initiative by the Australian Government called the Small Business Incubator Program (SBIP). This Program provides funding to organisations to help meet the infrastructure and set-up costs of new small business incubators. Smaller amounts are also provided for feasibility studies and to existing incubators for enhancements.

Small business incubators assist start-up and developing new businesses by providing shared premises and business services, as well as intensive business advice and support. Fledgling businesses are provided with a supportive environment in which to grow their business, before graduating into the wider business community.

Incubators can be an excellent opportunity for small home-based business to become full commercial enterprises without substantial set up costs and long term leases.

There is another government funded initiative called the Building Entrepreneurship in Small Business Program (BESB). This program is basically a competitive grants program made up of two elements:

• Small Business Entrepreneurship Program, which funds organisations to provide projects for mentoring, skills development, incubators and succession planning for small businesses.


• Small Business Field Officer Program, which funds Small Business Field Officers to provide advisory, mentoring and support services to small business operators.

** Further information on business incubators and other Australian Government funded initiatives can be obtained from your local Council Offices or Business Association.

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