Business incubators and business accelerators provide advice, guidance and various forms of support for businesses in the startup phase. The key difference between them is that business accelerators, as the name suggests, compress the timescale for starting up by operating as a type of boot camp. Business accelerators claim to help entrepreneurs hit the ground running; business incubators nurture the business in its startup phase, allowing it to develop at its own pace.
Incubators Business incubators provide new businesses with office space and shared facilities, such as telecommunications systems and Internet connections, in a dedicated building. According to The New York Times, there are around 1,200 incubation centers in the United States, as of 2011. Entrepreneurs can also access advice and guidance from professionals such as accountants, marketing consultants and business advisers who are associated with the incubation center and act as mentors. Entrepreneurs typically stay in an incubation center for three to five years, although there is no maximum period.
To read the full, original article click on this link: Business Accelerator vs. Business Incubator | Small Business - Chron.com
Author: Ian Linton
