The primary reason for establishing a business incubator is to enhance economic development in an area and to diversify the local economy.

Question

Quizplus · Accepted Answer

Business incubators are established to support the growth and development of new and early-stage companies, with a view to promoting economic development in a particular area or region. This is achieved by providing start-ups with access to resources, expertise, and services that can help them scale up their operations and become sustainable businesses over time. By fostering entrepreneurship and innovation, business incubators can also help to diversify the local economy, creating new job opportunities and contributing to the overall vitality of the community.

The Primary Reason for Establishing a Business Incubator Is to Enhance