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Margaret Dunning already runs one business. Will she start another?
That remains to be seen. For now, the 102-year-old plans to head back to the University of Michigan’s Stephen M. Ross School of Business to finish the undergraduate degree she started about 80 years ago. After she was featured in a TODAY.com article for her passion about cars, The FRAM Group (an auto products manufacturer) decided to pay her tuition.
Once she graduated from high school in 1929, Dunning began pursuing a business degree at the University of Michigan. During the Depression, she had to drop out of school to help her mother, who owned a bank and needed all the support she could get. Dunning went on to have a long career in banking.
“I’ll have to figure out just what I’ll study, but it will be in business, though — I know that,” she told TODAY. “I’m still running a business right now. … It’s…
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If so, you might want to look for an incubator. Just as the ones for eggs help bring chicks into the world, business incubators help brand new companies survive and grow during the start-up period (when these companies are most vulnerable).
Incubation programs come in many shapes and sizes, says the National Business Incubation Association (NBIA). Typically, they provide education, training, resources and shared work space. Almost all North American incubators are non-profits, with more than half sponsored by academic institutions or economic development organizations.
While most incubators are either “mixed use” or technology oriented, a few focus on niche markets. As this AARP article reports, Josie Lamonaco, 58, launched her Sicilian cookie business with the help of The Starting Block, a kitchen incubator in Hart, Michigan for nascent food businesses.
If you’re interested in joining an incubation program, expect to submit a business plan. Also, be aware that most tenants are expected to “graduate” in three to five years. NBIA’s website has many resources, including this search tool you can use to locate…
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