It is logical to assume that this mass adoption of the entrepreneurial sprit will lead to the development of more small businesses. The most vulnerable time for small businesses is the startup period, which usually encompasses the first two years of a company s existence. Fortunately, there are business incubators available to small business owners to provide the environment that fosters business growth.
Business incubators offer facilities and resources for small businesses at an affordable cost.
This paper concerns the advantages and disadvantages of joining a business incubator as opposed to starting a small business without the assistance of a business incubator. Today most business incubators have admission requirements that companies must meet before they are accepted as a resident company. Generally the requirements of business incubators are that the applicant company must have an innovative product, it must have market opportunity, a qualified management team, growth potential, and a strategic business plan. The conceptual model, found on page 7, clearly lists the general characteristics good candidates for business incubator possess, as well as the benefits surrounding business incubators and the outcomes they can produce. Business incubators can easily resolve problems that entrepreneurial enterprises face during the critical beginning stages of starting a business.