Selecting the Right Clients for a Business Incubator- Lessons Learnt from the National Integrated Business Incubator System (IBIS) Programme in Trinidad and Tobago

Abstract

This paper investigates the Client Selection process in Business Incubation and provides lessons learnt from the National Integrated Business Incubator System (IBIS) Programmein Trinidad and Tobago. The concept of Business Incubation has been gaining prominence to increase the supply rate of entrepreneurs, create jobs and assist in economic development. Business incubators are viewed as entrepreneurial hubs that can channel the entrepreneur and allow them to unleash their ideas and business enterprises to markets. These enterprises would be operating from a position of strength by virtue of the nurturing environment of a business incubator which increases their success rate to 90%. Nonetheless there is competition for resources and business incubation placements and the success of the Business Incubation Programme hinges on the performance of the client and their business enterprise. The Client Selection process is a critical component of business incubation so that value for resources can be achieved while simultaneously ensuring there is a right fit with the client and the objectives of the business incubation programme. The lessons learnt sprang from internal and external perspectives gleaned from the implementation of the IBIS programme. These perspectives ranged from staff recruitment, communication strategies, community engagement and client diversion systems.

Program Inkubasi Usaha Pemula Mahasiswa Melalui Inkubator Bisnis Sekolah Tinggi Ilmu Ekonomi Bima

“…Inkubator bisnis merupakan salah satu hal penting bagi perekonomian local sebagai akibat dari penciptaan nilai, di mana dapat menyalurkan wirausaha dan memungkinkan mereka untuk melepaskan ide dan usaha bisnis mereka ke pasar (Ramkissoon-babwah & Mc David, 2014).…”