Benefits of incubation

Entrepreneurship-and-Communication-Skills-notes
  1. It acts on a catalyst for economic development boosting entrepreneurial growth and
  2. It helps young businesses to overcome the challenges of new start up stage which causes business failure
  3. Encourages faster growth and survival of new businesses
  4. It helps to convert business ideas into profitable ventures supporting those with viable ideas and those that lack start up capital
  5. They help those individuals who cannot access mainstream business services

e.g. bank loans, modern consultancy services, etc which are expensive

  1. They provide a conclusive environment where the business succeeds
  2. They provide network activities which are necessary for business growth
  3. They provide start up structures thus providing a framework for enterprise development



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