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About Us
The Cape Ann Business Incubator (CABI) was founded in May 2003 to help
stimulate Cape Ann’s economy by providing a centralized source of
expertise and resources for the growing number of small start-up
businesses on Cape Ann. CABI was formed to nurture small businesses, help
them to survive the difficult start-up process and grow into stable,
income producing entities. CABI provides a professional working
environment where small businesses can receive education, technical
assistance, office space, shared services and access to financing and
other professional services.
CABI was founded to provide entrepreneurs with the expertise,
networks, space and tools they need to make their ventures successful.
Working as a vehicle to aid the rising tide of entrepreneurs seeking to
start new businesses, CABI will seek to accelerate the growth and success
of small businesses through the following efforts:
- Creating new businesses and new jobs in the Cape Ann community,
- Working to assist and retain existing businesses in our local
communities,
- Promoting a business environment that helps build and accelerate
growth in local industry, diversifies the local economy, and enhances
the entrepreneurial environment of Cape Ann.
In 2001 alone, North American Incubators assisted more than 35,000
start-up companies that provided full-time employment for nearly 82,000
workers and generated annual earnings of more than $7 billion. In
addition, 87% of all firms that graduated from National Business
Incubator Association (NBIA) member incubators are still in business
after three years. Support of healthy, viable business incubators is in
the vital interest of the business communities they serve, as the
following facts illustrate:
- Nationally, 50% of small businesses that are not affiliated with
incubators fail in the first year and 80% fail before they reach 5
years of operation.
- Start up firms serviced by National Business Incubator Association
member incubators annually increased sales by $240,000 each and added
an average of 3.7 full-time and part-time jobs per firm.
- For every 50 jobs created by an incubator's clients, another 25
jobs are generated in the community.
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