Starting a business is fraught with challenges and pitfalls so staff and graduates from Kingston Business School have opened the first business incubator' in south London.

A business incubator helps new businesses and small firms overcome the stresses of starting up by providing business support and office space.

Christopher Fogg, managing director of Cobweb, which has been set up on the Merton Abbey Mills site, in Colliers Wood, said: "Many new businesses fail, although the entrepreneur has a basic knowledge of the product or service, because there is a lack of expertise in finance, marketing, funding, business and market plan preparation.

The incubator endeavours to fill the gaps as well as offer an office with good communications, general office facilities as well as the moral support required by new entrepreneurs."

The incubator was named Cobweb because it joins new businesses to a network of specialists in different areas and backgrounds including support services such as Business Link, Chamber of Commerce and Wimbledon Business Group.

Cobweb also links companies with other groups in the incubator. Current tenants include companies involved in IT, website auditing and usability and asset finance.

For more information on the business incubator call Mr Fogg on 020 8543 9390.

November 12, 2001 13:00