Volkov Business Incubator, USAID, Russia, 1998
|Date completed||December 1998|
The Incubator was established in 1955 by the Alliance of American and Russian Women and the mayor of Volkhov and funded for three years by the USAID/Moscow New Business Development Program. It has attained 75% sustainability, despite the current economic crisis. The Incubator is managed by a Russian staff. It is the first and only institution in the region to focus on women-led businesses; to have an independent board of trustees; to offer credit and equipment leasing to small businesses at reasonable interest rates and for long periods; and to offer computer training and courses on the computer.
Summary of results
The Incubator has become the catalyst for business development in the region; has helped create and sustain 120 businesses and 450 jobs; trained and consulted with 4500 individuals; has 44 equipment leasing clients; and ten tenants. Today, the staff is training representatives from other cities in Russia and the NIS how to establish and manage a small business incubator, an equipment leasing program and a women's business support program.
|Associated Activities and Documents|
|»||Rio de Janeiro DC Conference, 1999 (global)|