Support Strategies of Government-Owned Business Incubators for SMEs' Sustainability

Abstract

The role of enterprises in boosting the economy cannot be overemphasized. This role ranges from job creation to poverty reduction. Despite the crucial roles, it is reported that a number of new businesses cease to operate within three years. Business incubators can mitigate the early closure of businesses through training, mentoring, sharing of infrastructure, information, and networking opportunities, especially for SMEs. Focusing on Eswatini where the value of SMEs is linked to socioeconomic development, this chapter offers an understanding of the strategies business incubators use to support SMEs. The authors used a questionnaire and interviews to collect data from government-owned business incubators and SME owners. Strategies are applied in supporting SMEs, some owners reported dissatisfaction with the strategies. New strategies need to be explored. The authors propose the setting up of an effective research and information center where viable markets can be identified, and information provided, to assist SMEs to position their products in appropriate markets using relevant technology.

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