What does this mean for our community? As with most things, this could be a positively successful endeavor, or it could end up being financially burdensome to those involved.
The whole purpose of a business incubator is to improve the local economy while giving local start-ups a helping hand. This is made possible by offering reduced rent and free business guidance to promising entrepreneurs selected for the incubator program.
The reduction in overhead costs alone frees up money and eliminates potential headaches, giving a new business a much-needed head start on succeeding in today’s turbulent economy.
The Ottawa County incubator is slated to target business ideas that are technology related with a focus on agriculture. Business innovation combined with a popular local industry could be a great thing for our county.
While the incubator offers great savings to entrepreneurs, there is always financial risk involved. Starting up your own business can be very costly, and should not be financed foolishly. Be sure of what you’re getting into before rolling the dice and taking out a second mortgage on your home, or by “borrowing” from a retirement fund.
Ignorance is not bliss when it comes to your financial future. That being said, what a great opportunity this could be for local start-ups that are financially prepared to gamble on a successful business that could simultaneously benefit themselves and the community.
If you have a dream and are prepared to sacrifice, go for it! The entrepreneurial spirit is something priceless that can create legacies that will benefit our community for years to come.
Our Views reflects the majority opinion of the members of the Grand Haven Tribune editorial board: Kevin Hook, Cheryl Welch, Matt DeYoung, Liz Stuck and Fred VandenBrand. What do you think? E-mail us a letter to the editor to firstname.lastname@example.org or log-in to our website and leave a comment below.