Скачать или смотреть Business Accelerator Meaning | Definition & Advantages Business Accelerator | Startup Accelerator

Previously we have looked at the meaning definition and advantage of a business incubator. Today we are going to do the same for a business accelerator.

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Welcome back to Speak Like Shaf, my series explaining business terms in plain English. Regular viewers will know that I have a little chum who gives me a hand in breaking down complicated terms and making them straightforward and accessible. Stay tuned, I’m sure he’ll be making an appearance!

It’s hard starting out as an entrepreneur and I try to give advice to as many people as I can. There is a lot of support out there, so if you are launching a start-up, my advice is to use it. That’s why today I will explain the term business accelerator to you.

When you hear the word accelerator, what does it make you think of? Driving? Getting from A to B? It makes me think of a well-planned journey, going faster and getting to wherever you are going as quickly as possible. Well, in a sense, that’s what a business accelerator does.

It’s a programme that offers mentorship to developing companies. It helps them with access to investors, logistical support, technical knowledge and shared office space. They will connect companies to peers that they can learn from. This might sound familiar. Do you remember when we looked at the term business incubator recently? You might be wondering what the difference between incubator and accelerator is but I promise you there are a few key differences.

The first, and most important, is the type of business each programme is for. An incubator is for brand new businesses that are just starting out. They offer support, office space and mentoring but there generally isn’t a time limit on how long a start-up can use them for. If a start-up was a person, it would be a newborn baby. A company using a business accelerator is the equivalent of a teenager. They have moved on beyond the childhood stage and can stand on their own two feet but aren’t quite ready to survive in the big, bad world on their own. Accelerators offer guidance and support, and it’s generally a short-term arrangement. Most run for a matter of months, making them far more intense than an incubator. The company should complete the programme and be ready to run on its own.

There are two kinds of accelerators. The first, a seed programme, is for businesses that have just moved beyond the start-up stage. Second stage programmes are for businesses that are slightly more established but still need support.

I’ve already mentioned about my little pal who helps me explain things. Here’s Rab The Rock Star, a Stone Age entrepreneur who launched a business making tools so that hunters could be more successful. As he was the first entrepreneur in his village, he ended up helping those who followed in his footsteps. He offered them his office space for a few months which was a very roomy cave and he introduced them to each other and neighbouring villages’ entrepreneurs so they could network amongst themselves. He offered support and advice and helped these fledgling businesses prosper with practical advice. That’s a business accelerator in a nutshell. Well done Rab!

There are around 180 business accelerators in the UK, so if you feel they would benefit you have a look and see what they offer. You could soon be accelerating into the fast lane. Let me know what you think. Like, comment and subscribe.

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