Volkov Business Incubator, USAID, Russia, 1998

Description
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
Synthesis Documents
»	Rio de Janeiro DC Conference, 1999 (global)