Good Practice Guide to Business Incubation

Economic development agencies in both developed and developing countries have long recognised the value of small and medium enterprises (SME) in job creation. They also understand the difficulties faced by entrepreneurs in starting a new business and are concerned by the high failure rate of these new small firms, especially in the first three to four years after start up.

Business incubators have been developed to help new small firms to overcome the problems of start-up and to reduce the early failure rate. The incubator provides basic business training for the new, inexperienced owner-managers plus professional support with accounting (book keeping), marketing and general management needs. They also provide access to secretarial and standard office services, usually including telephone answering, fax, e-mail, photocopying etc. These support services may be offered initially at a reduced rate.

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