MARKETING CHALLENGES FOR SOUTH AFRICAN PUBLIC SECTOR BUSINESS INCUBATOR

Abstract

Entrepreneurship and innovation form the cornerstone of economic development in many developing countries.Through this, rather ideal combination employment can be enhanced, communities can be uplifted through education, and growth can be increased through discretionary purchasing power.This cycle has positive spinoffs which can alleviate poverty and decrease famine.Recent local research suggests that more than eighty percent of entrepreneurs, start-ups and Business 'Incubatees' don't make it through their first year of establishment after leaving a Business Incubator programme.This paper tries to identify some of the marketing challenges faced by Business Incubators, and indeed BIMs in the Public Sector environment in South Africa.Identification and highlighting the possible drawbacks for 'incubatees' may assist them with success or meeting competitive challenges when they depart from the security of the relevant programmes.This study examines some of the skills, knowledge and attributes required for BIMs in this sector and what is required to meet the business and marketing challenges faced to remain sustainable.The survey was aimed at the largest, focused segment of South African Business Incubators affiliated to the industrial public sector and the hypothesis was to prove that strategic marketing information, acumen and knowledge is a key differentiator towards the growth and sustainability of Business Incubators in that sector.It is notable that these marketing challenges may also compare favourably with several other public sector segments in relevant countries of the southern African region as similar macroeconomic challenges are faced.

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