Business incubators are a trumpeted, but yet unproven way to give entrepreneurs and their projects a higher chance of success. Foundations and governments are lining up dollars to support incubators in their communities.
Some of the larger incubators around the region were profiled by Niala Boodhoo earlier this week. But there are also more grassroots efforts springing up, incubators that seem themselves to be small enough to be supported.
Marcy Kates lives and works in Holt, Michigan. Two months ago she left her job as a program officer for the state’s AmeriCorps program and opened IncuBake, an incubator kitchen and commercial kitchen space. Kates used her savings and her credit cards to open the kitchen, inspired by being unable to find low-cost commercial space for her own catering.
“I started this project to be a job creator, “ said Kates. Even so, she intentionally stayed away from a nonprofit model, wanting more flexibility and not really wanting to fundraise. That meant using her savings and her credit card to start the business, which is now about 15 percent full but, Kates says, growing steadily. Continue reading “Your Story: Can Grassroots Small Business Support Work?”