Ideas are the starting point for greatness and success. You have a strong idea, one that may change the way people have their needs met, or one that helps people perform certain activities, or even a simple idea to make people’s lives easy. Where do you go forward from there, and how exactly do you get on the path to greatness?
From idea stage to business stage to sustenance stage to growth and finally explosion – all stages of the startup business cycle are carefully managed by a specific programme called business incubation and the companies that provide such services are referred to as business incubator companies. So what exactly is business incubation?
What is business incubation?
To put it simply, business incubation is all about providing support. You get support for turning your idea into reality, for setting up a business, for planning your path to business operations, getting your customers, managing finances, and growing organically.
We, the business incubation service company, would act as catalysts for your business, right from idea stage all the way to sustenance and growth. We help you get your idea onto paper, find the right plan for you, get you a legal status as an operating business and enable your operations by adding the right value.
Stages of business incubation
The main services provided by Corporate Business Hub are split into multiple stages:
- Plan the business - Your idea gets evaluated for its viability. Right from understanding the needs that your idea sets to address, to the way it can be manifested into reality, to the kind of people it seeks to connect with, and the geographies – all aspects of the feasibility and viability are evaluated and documented into a clear plan by the business incubation service company. In this stage, some of the key services enabled by our business incubation include:
o Help with business basics
o Market Research and Feasibility Studies
- Launch the business - The next stage in business incubation involves establishing a trade license. This process includes identifying the right legal structure, the correct business activities that map to your business plan and the office location required for setting up your business. For further details, refer the business setup process here. Our business incubation in this stage assists you with services such as:
o Setting up your business
o Delivering an office leasing solution
o Opening bank account
o PRO Services
o Accounting/Bookkeeping services
o Marketing Consultancy
o Help with regulatory compliance
- Manage the business - After setting up the company, you require the right operational support from the business incubation service company on multiple aspects – these include but are not limited to training your staff, developing your lead generation mechanism, building your brand awareness and most importantly
converting efforts into quantifiable revenue. This support from business incubation is delivered through some services such as:
o Access to bank loans, loan funds and guarantee programs
o Links to higher education resources
o Links to strategic partners
o Advisory boards and mentors
o Management team identification
- Grow the business - The last stage involves obtaining funding, expanding your business or growing product/service lines
What are the advantages of business incubation?
- Your idea gets an identity and a business to go with it
- You get clear guidance and mentorship
- Your idea gets the right business direction
- Your business costs and expenses are optimized, so your idea generates value for investors
- Your business gets support well beyond just going “live”
Reach out to our business incubation consultancy experts and we will be happy to guide you through the initial stages of your thought process. Contact our company formation specialists in Dubai for more information.