THE IMPACT OF BUSINESS INCUBATORS ON SMALL BUSINESS SURVIVABILITY

Small businesses are key players in America’s economy. Historically, the focus was on small businesses that failed rather than those which have thrived. Because of this emphasis, the alarming rate of small business failures and the reasons associated with these failures were highlighted. While small businesses have been susceptible to high failure rates, there exists resurgence in the survivability of small businesses. Small businesses are now succeeding at unprecedented rates. One of the reasons for this paradigm shift can be attributed to the advent of business incubators. Business incubators, when adequately utilized, have attributed to managers and owners of small businesses acquiring managerial skills that are necessary for survival in a competitive environment. While all incubator programs have not received the same level of success, business incubators have been instrumental in the continual rising of small businesses survival rates