Russia: The Volkhov international business incubator

The management and financial challenges of a business incubator are immense, particularly in a region of Russia where human and financial resources are scarce and political, economic and regulatory barriers are considerable. The Volkhov international business incubator (VBI) combines the characteristics of the traditional small business incubator with the objectives and methodology of empowerment or microenterprise incubators, plus the functions of a business services centre and a training centre. A particularly important component is its equipment leasing programme. which is of great benefit to clients who are otherwise unable to access credit, and to the incubator which derives a large part of its income from interest payments. It has now attained 75 per cent sustainability, despite the current economic crisis.