Michael Busler, Richard Stockton College, USA
Abstract: This research identifies the strengths, weaknesses, opportunities and threats for business incubators in Europe. The conclusions are based on the examination of case studies from the United Kingdom, France and Germany. These three countries account for approximately 83% of all Business Incubators (BI) located in Europe, where the average survival rate is about 90%. In total, there are approximately 300 incubators in the UK, about 150 incubators in France and another 300 located in Germany. This represents a majority of the more than 300 business incubators in all of Europe. In the US there are more than 1800 BI and the National Business Incubation Association estimates that 7000 Business Incubators exist worldwide. Additionally, INFODEV, an arm of the World Bank Group, currently supports the work of 40 incubators with a success rate of about 80% percent for companies, and the United Nations Industrial Development (UNDIO) oversees more than 500 incubator projects in developing and transitioning economies. Therefore, incubators play a critical role in promoting knowledge transfer, innovation, entrepreneurialism, employment, wealth creation, and economic development. It is generally well known that BI can contribute not only to the current economic recovery, but also to the overall economic development of an economy. We recognize that BI are physical locations that provide a defined set of services to newly formed businesses by offering office space, access to technology, financing, technical assistance and consulting services. Our conclusions should provide guidance, suggestions and recommendations that will increase the likelihood of success in Europe. Our work is based on conducting a SWOT analysis. This is the first time that this technique has been used to analyze Business Incubators in Europe.
Keywords: Business Incubators, Economic Development, Entrepreneurial, United Kingdom, France, Germany
