Enterprise Development

Incubation Programme

One of LIBSA’s core programmes is a 15-month business incubation. Business incubation is the support provided in the development phase of start-ups when entrepreneurs work on the launch of their companies. Business Incubators are institutions that support the entrepreneurial process, helping to increase survival rates for innovative start-up companies (NOTE: only entrepreneurs with viable businesses are admitted to the incubation programme).

These start-ups receive a specialized menu of support resources and services, which include the provision of physical space, counselling, assisting in compiling an effective business plan, compiling business profiles, administrative services, advice on compliance with statutory requirements, technical support, business networking and advice on sources of finance.

In addition, LIBSA’s new Business Incubation Policy aims at the following:

• Regulating coordination of LIBSA’s business incubation programme
• Clarifying responsibilities and individual roles of all LIBSA personnel involved in the implementation of the business incubation programme.
• Clarifying procedures to be followed during the planning of the Business Incubation Programme

LIBSA Business Incubation process

Target-setting

• Executive Management sets targets for the programme
• Enterprise Development Manager, offices agree on individual office targets
• Executive Management provides final approval on targets

Apply to LIBSA

• Applicants respond to public advert by submitting their application forms to LIBSA offices
• Evaluation and short-listing to be done by the offices
• Final selection among short-listed candidates will be made by Incubation Committee

Application Unsuccessful

• Applicants can review and refine plan before resubmission

Application Successful

• Admitted as incubatee

Satisfy requirements for graduation

• Graduate
• Maintain contact with LIBSA through participating in seminars, emails, visits, etc.
• Business qualifies to receive augmented business development services from LIBSA

Unable to satisfy requirement for incubation programme

• Exit from incubation programme
• Admitted as general SMME
• Maintain contact with LIBSA through participating in seminars, emails, visits, etc.