What is a local program that provides low-cost, shared business facilities to small startup companies?

The correct answer, a business incubator, refers to a program specifically designed to nurture small startup companies by providing them with essential resources, guidance, and facilities at low costs. Business incubators typically offer various services, including office space, administrative support, mentoring, and networking opportunities. Their primary goal is to foster the growth and success of new businesses during their critical early stages.

This aligns with the concept of providing shared business facilities that help startups minimize operational costs while gaining access to valuable resources and support. Business incubators often focus on developing specific industries or sectors, ensuring that their support meets the unique needs of the startups they serve.

In contrast, other options such as a business hub may offer general business resources but lack the structured support and mentoring offered by incubators. A startup accelerator, while also aimed at promoting growth, typically focuses on rapidly scaling businesses over a fixed period, often in exchange for equity. Coworking spaces mainly provide shared physical workspace and may lack the comprehensive support systems that incubators offer for early-stage startups.