Feature: Business Incubators

By Timothy A. Edward

This week, speeches at the United Nations dominated global attention. Notably, for the first time since 1967, a Syrian representative addressed the forum. Alongside this, many other significant speeches were made, each likely to shape future global developments.

These events remind us how deeply interconnected nations are - through business, diplomacy, and shared challenges. In today’s world, no nation can truly function in isolation. Our economies, policies, and futures are woven together like threads in a global tapestry.

Backbone of National Economies

Every national economy stands on the strength of its business sector. This sector has two major pillars:

• Formal Corporates and Business Entities: These include registered companies, large firms, and established institutions.
• Entrepreneurs: The dreamers, risk-takers, and innovators - who represent the future of business.

Entrepreneurs bring fresh ideas, create jobs, and drive innovation. Supporting them is not just good economics – it is essential for long-term national growth.

Strengthening Agriculture and Cottage Industries

In agriculture-based economies, many actors contribute to the value chain - from farmers to processors to retailers. Our cottage industries are also gaining momentum, offering handmade goods, local crafts, and small-scale production.

To strengthen these sectors, we must promote best agricultural practices, embrace climate-smart agriculture and address food and kitchen waste, which remains a major issue.

For example, composting kitchen waste can reduce landfill pressure and improve soil health. Similarly, using drip irrigation and organic fertilisers can boost yields while protecting the environment.

These efforts align with the principles of a circular economy and support green economy strategies -where resources are reused, waste is minimised, and sustainability is prioritized.

Why Business Incubators Matter

In this landscape, economic incubators play a vital role. But what does this mean?

Entrepreneurs and cottage industries need exposure to corporates, established companies, and industry leaders. By spending time with them, they can learn trade secrets, understand market dynamics, and adopt ethical business practices.

A business leader once shared how his success was shaped by a mentor in his field. That mentorship gave him insights, confidence, and direction - proof that guidance can transform potential into achievement.

Creating Opportunities

Business incubators create spaces where: Industry veterans share their life experiences. Emerging leaders learn the science of ethical business.

Practical knowledge is passed down through mentorship and collaboration. For example, a start-up in eco-friendly packaging might benefit from spending time with a seasoned manufacturer who understands supply chains, customer behaviour, and scaling operations.

Building Your Own Incubator

Thanks to modern technology, every entrepreneur can now build their own virtual incubator. Here is how: Google your area of interest. Follow successful leaders in that field. Read their books or blogs. Listen to their tech talks or podcasts. Research their journey and extract lessons.

For instance, someone interested in sustainable fashion can follow designers who use recycled materials, study their business models, and adapt those principles to their own context.

As the saying goes, we do not have to wait for Rome to come to us - we can take steps to go to Rome. Technology and knowledge management have made this possible.

Making an Impact That Lasts

Life is short, but it offers us the chance to make a lasting impact. The relationships we build and the influence we have on others are what truly matter.

We will not carry physical possessions into eternity - not even a penny. But the impact we leave behind and the relationships we nurture will echo beyond our time.  Let us build business incubators - not just for ourselves, but for others. Let them be tools for growth, mentorship, and transformation. In doing so, we shape not only the present but also eternity.