Oh, how time does fly.

It's been several years now and there is only one in all of Southern Nevada, the Henderson Business Resource Center, in the Wells Fargo building in Henderson. It includes 10 low-cost office spaces for small businesses, some of which are open for new leases this fall.

The incubator offers a cheap (about $500 a month) six-month to two-year lease on office space and infrastructure in a professional building. Along with the office space the businesses get access to financial counseling, the best business professionals in town and a lot of moral support.

"What we try to do is set up this framework to build effective sustainable businesses," said Henderson Business Resource Center Director Judi Dohn. "We're looking for growing businesses. I'm careful with companies. I don't want someone who thinks they want to start a business but doesn't have any idea what they want to do. We want them to grow and to eventually add employees."

The incubator, which is affiliated with the Henderson Chamber of Commerce Foundation and was a cornerstone to the revitalization efforts in downtown Henderson, is most popular with service-oriented businesses or the business side of manufacturing companies. Tenancy is not restricted to those who live or work in Henderson, and the only tenants it cannot take are those who would compete with Wells Fargo Bank. The center has graduated thousands of small businesses since it was first established in 2001.

While the local incubator has been successful in churning out viable small businesses, the concept has fallen out of favor nationwide in recent years, mostly because of the effort required to establish and maintain an effective program.

"There are still some successful incubators around, but it became kind of a catchphrase and kind of a hot thing to do in the Silicon Valley and other places and the success rate slipped," said Janet Runge, acting director of the UNLV Entrepreneurship Program. "I think a lot of private individuals or groups started these things and they didn't really realize the scope of what was involved in getting these fledgling companies off the ground and flying on their own."

Rumors of a planned incubator at the Entrepreneurship Center at UNLV, she said, are way off base. They take too many resources and are difficult to manage. The program will instead — at least in the developing years — focus on developing training centers in which students can learn the ins and outs of business, internships with start-ups and campuswide business plan competitions to foster real-world experience and opportunities for future businesspeople.

"I really think internships are huge in a college student's career. It really helps them understand what they're doing and why they're doing it and why it's important," Runge said. "At this point, we're not really looking at doing an incubator."

The Henderson Business Resource Center, on the other hand, has hopes of growing its program.

"I think it's a great thing for business. It provides a great opportunity to grow their capital and expand their business. And it takes the pressure off of forming a cadre of professional advisers," Dohn said. "I'd love to see it expand in Nevada because I really believe in the concept."

The Henderson Business Resource Center is taking applications for tenants. It has openings starting this fall. For information, call 992-7200.

Incubators, when done right, can be a lifesaver for small start-ups with limited capital. For those ready to move out of the garage or spare room, it's worth looking into.