The role of Busines Incubators in Enchancing the Sustainability of SMEs : A Global Perspektive

Abstract

This article investigates the role of business incubators in enhancing the sustainability of small and medium-sized enterprises (SMEs) from a global perspective. Business incubators are organizations designed to support the growth and development of startups and early-stage companies by providing resources such as mentorship, office space, funding, and networking opportunities. The study examines how these incubators contribute to the long-term sustainability of SMEs by fostering innovation, enhancing business skills, and improving access to markets and financial resources. Through a comprehensive review of existing literature and case studies from various countries, the article highlights the diverse models of business incubators and their impact on the survival rates and growth trajectories of SMEs. Additionally, it explores the challenges faced by incubators in different regions, including cultural differences, economic conditions, and regulatory environments. The findings suggest that while business incubators play a crucial role in supporting SMEs, their effectiveness varies depending on local contexts and the specific needs of the businesses they serve. The article concludes with recommendations for policymakers and stakeholders to enhance the effectiveness of incubators globally, emphasizing the importance of tailored support, continuous evaluation, and collaboration between public and private sectors to foster a more conducive environment for SME sustainability.