Residential Incubator Form

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Section I

Date *

Year

Month

Day

Name of business *

Registration No *

Copy of the registration certificate/certificate of incorporation to be included

Contact person *

Phone number *

Fax number

Email address *

Mailing address *

Section II

Type of business *

Product oriented

Service oriented

Briefly describe the proposed production process or service activity in which your business will be engaged *

How will the business be structured? *

Sole Proprietorship

Partnership

Corporation

Cooperative

For partnerships or corporations, state the names of the partners or directors

State any permits or licenses required to operate your business

Have you already obtained the required permits or licenses?

Yes

If YES please attach a copy of each permit or license

How many people will your business employ in its first year in the incubator programme?

Full-time *

Part-time *

Section III

Who do you perceive will be your three (3) main competitors?

Competitor #1

Name

Location

Product/services

Competitor #2

Name

Location

Product/services

Competitor #3

Name

Location

Product/services

State any advantage(s) your prodct/service will have over your competitors *

Identify the main factors that could threaten the growth of your business? *

What factors could increase demand for your product/service or lead to the expansion of your business? *

Describe your target market (in terms of address, age group, sex, income or other social factors) *

If you have more than one product/service, be sure to describe your market in terms of each product/service

State whether the business will be affected by seasonal trends *

Yes

Indicate how your proposed product/service will be distributed *

If by another method, please specify

Section IV

Who will manage the business? (state whether self or a hired manager) *

What qualifications and/or relevant experience does the manager have? *

Section V

Will you be targeting any markets outside of barbados? *

Yes

If yes, where?

State your expected sales and expenses for the first year operating in the incubator programme

	1	2	3	4	5	6	7	8	9	10	11	12
Sales (revenue)
Expenses

What is the estimated cost of setting up your business in the incubator? (Please provide details: equipment, furniture, fittings, etc.) *

Section V (Cont'd)

How will you finance this setup cost? *

Personal finances

Loan

Both

How much will you need to borrow from a lending institution $

Will you require any special facilities in the incubator (such as voltage, loading docks, access ramps for the physically challenged, etc.)? *

Yes

If so, then indicate below

Important

PLEASE NOTE THAT:

The Small Business Incubator was established to nurture young entrepreneurial activities by providing affordable workshop and/or office units and technical or operational support to participating businesses. Clients may remain in the incubator for a maximum of three (3) years and during occupancy are expected to show progress in accordance with an approved business plan.
Clients will be required to conduct their operations in a businesslike manner and at all times to demonstrate commitment to their goals.
The Small Business Centre offers its counseling service at no cost to its clients. All decisions concerning client businesses are and shall remain the sole responsibility of their owner(s)/managers. Consequently, apart from those arising from a normal landlord tenant relationship, the BIDC disclaims all liability and responsibility for the management of clients’ businesses and their business endeavors.

Acknowledgement

I have read and fully understand this form and the information provided by me is true and accurate to the best of my knowledge.

Signature of applicant

Date

Year

Month

Day

Leave this field blank