Work

Support Strategies of Government-Owned Business Incubators for SMEs' Sustainability

Year: 2023

Type: book-chapter

Abstract: The role of enterprises in boosting the economy cannot be overemphasized. This role ranges from job creation to poverty reduction. Despite the crucial roles, it is reported that a number of new businesses cease to operate within three years. Business incubators can mitigate the early closure of businesses through training, mentoring, sharing of infrastructure, information, and networking opportunities, especially for SMEs. Focusing on Eswatini where the value of SMEs is linked to socioeconomic development, this chapter offers an understanding of the strategies business incubators use to support SMEs. The authors used a questionnaire and interviews to collect data from government-owned business incubators and SME owners. Strategies are applied in supporting SMEs, some owners reported dissatisfaction with the strategies. New strategies need to be explored. The authors propose the setting up of an effective research and information center where viable markets can be identified, and information provided, to assist SMEs to position their products in appropriate markets using relevant technology.

Source: Practice, progress, and proficiency in sustainability

DOI: 10.4018/978-1-6684-9711-1.ch012

Authors: Thobile Makhosazana Dlamini, Chux Gervase Iwu, Gabriel Oyebanjo Ogunlela

Institutions: Cape Peninsula University of Technology, University of the Western Cape

Language: English

Topic: Entrepreneurship Studies and Influences

Subfield: Management of Technology and Innovation

Field: Business, Management and Accounting

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure

Open Access status: hybrid

OpenAlex ID: W4366995017

FWCI: 6.199

Cites: 58

Cited by: 5

Related to: 10