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Why every new business should join an incubator

Why every new business should join an incubator

In light of the Covid 19 pandemic, many new entrepreneurs are opting to build their business from home, but here’s why we think business incubators are still worth the commute!

It’s no great surprise that in light of the Covid 19 pandemic, huge numbers of the UK’s workforce are leaning towards the many benefits that working from home provides. And when you’re an entrepreneur or small business owner, its never been easier to pack your business on your back and sit down to work wherever you are! Now, don’t misunderstand me – at Indigo, we’re big fans of the hybrid work model (and our pets definitely thank us for it). But there’s also another option that definitely deserves some thinking about – the incubator.

(Obligatory pet snaps from the team!)

When you’re just starting out, you’ll have a community around you

Setting up a business can be a lonely affair – especially if you’re doing it on your own. In those early days it can be really easy to miss the standard office practices like lunchbreaks with your co-workers or catching up around the water cooler. Many entrepreneurs trade sociable working hours for sitting alone at home – and with the increase in virtual meeting options, often don’t even speak to another human all day!

We’ve been there, and it can definitely start to impact your mood, and your productivity, too. Business incubators provide the best of both worlds – you still get to work on your own project in your own time (no need to show up at 8.50 if you don’t want to) but there’s still a community of people around you to support you, or even just make small talk every now and then. Don’t underestimate the power of those small, every day interactions.

Collaborate, collaborate, collaborate

Your business is brand new, which means it’s flexible and adaptable – now is the PERFECT time to collaborate with others! Incubators are full of dozens of other entrepreneurs just like you, bringing innovative new ideas to the table and finding creative ways to support each other along the way.

You might find your future business partner at the hot desk opposite yours, your first pilot client around the corner or even just a slightly older company who can offer some friendly mentoring and advice. Either way, the culture of innovation surrounding business incubators is hugely inspiring, and it will definitely get your creative juices flowing.

Indigo’s Founder, James, at our work home The Ingenuity Lab

The power of a professional business address

It’s a slightly more practical reason, but pretty important nevertheless. Be honest – when you first set up your business, was your official address on Companies House your parents’ house? (We’re definitely not guilty there …)

The point is – this isn’t going to be practical for very long. More to the point, it doesn’t feel particularly professional either. Having a reputable and official-sounding address goes a long way in making your business sound more reputable and official too – and believe it or not, people will take you more seriously for it.

Top tip: many incubators will have an ‘address only’ option, so if for whatever reason you don’t really want to work there, you can still get your post delivered there on a smaller package!

Ultimately, you should always work wherever you feel most comfortable – not everyone is going to be the same! But if you’ve been wondering whether or not to give your local incubator, accelerator or co-working space a try, here’s your sign to go for it!

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