Answer:
Business incubators are important because they offer the following services to entrepreneurs.
Explanation:
1. Provide entrepreneurs with essential business information.
Incubators trains business people on basic business principles such as bookkeeping and marketing. The training is helpful to entrepreneurs whose background is not in business.
2. They create business networks
Incubator brings Entrepreneur together. They organize them in groups, thereby forming small networks. They then connect these networks to create big associations. The networks acts as a source of support and encouragement for each other.
3. Offer financial and management training
incubators work with financial institutions such as banks to train entrepreneurs on finance matters. Business people get exposed to credit facilities. After training, business people may qualify for financial assistance.
4. Provide high-speed internet access.
Incubators provide infrastructure for business people to conduct their business. On these premises, high-speed internet is always available.
5. Facilitates capital acquisition
In some situations, incubators act as guarantors for securing capital for business people. They offer guidance in matter capitals acquisitions.
6. Provide specialized equipment
Incubators have experts working for them. Should a business person require specialized equipment, they can get help from the experts. In their premises they have specialzed equipment for businesspeople to use.
7. Assist in marketing
By forming groups of similar business, incubator supports these enterprises by marketing their products.
