Incubation of business – from business ideas to market.
Incubation of business
Incubation of business – from business ideas to market. Working with potential entrepreneurs at an early stage of their venture development requires extensive intervention that includes strengthening entrepreneurial skills, support in developing and protecting the product and/or service prototypes, developing a business model and detailed business plan, and supporting presenting a business venture to potential investors.
In the implementation of incubation programs, the Foundation, through YEP programs, has developed capacities in various methodologies and internal and external resources for the implementation of programs of great complexity and scope. In 2018 alone, YEP Business Incubator included more than 600 business ventures in Bosnia and Herzegovina.
Technical support in business registration and start-up – The Foundation has the resources and rich experience in implementing concrete steps in registering and starting a business. Starting a business, from the point of legal and accounting aspects, have to be carried out in parallel with promotional and human resource engagement activities. The Foundation has extensive experience in defining the optimal legal status and fulfilling the corresponding obligations, necessary for the correct initial positioning on the market.
The act of registering and starting a business is the most stressful period in the life of a business venture. Legal and administrative requirements are strict and failures in their full operation may jeopardize the business. At the same time, entrepreneurs are expected to position themselves among suppliers and customers, procure appropriate machines and technologies, protect intellectual and copyright, secure and arrange physical space, select employees and form a team, etc. Technical support in the implementation of some of these tasks increases the chances of success and focusing entrepreneurs on key aspects of the business.