IJSER Home >> Journal >> IJSER
International Journal of Scientific and Engineering Research
ISSN Online 2229-5518
ISSN Print: 2229-5518 5    
Website: http://www.ijser.org
scirp IJSER >> Volume 3,Issue 5,May 2012
Incubation of Micro and Small Enterprises- an approach to Local Economic Development
Full Text(PDF, )  PP.126-130  
Author(s)
Pralay Dey
KEYWORDS
Micro and Small Enterprises, Incubation, Incubator, Unemployment, Entrepreneur, Entrepreneurship, Hand holding support, projects, technology, Ideas, Finance, Marketing, business, economic, local, MSMEs, SMEs, Industry
ABSTRACT
Micro and Small Enterprises (MSEs) are important to almost all developing economies in the world, having major employment, import dependency, and income distribution challenges. Establishing Micro and Small Enterprises (MSEs) is not a cake-walk despite having innovative inventions and ideas. It takes more than just having an idea of establishing a startup. Planning and arrangement of scarce resources like Finance, Infrastructure, Technology, Sourcing of raw materials, Marketplaces(buyers) and organizing Sales distribution channels are the major challenges for establishment and survival of any enterprise. Majority of startups fail in their first year of inception. Many of these failures can be prevented if entrepreneurs get handholding support by an Institution having specilaised Incubation programmes. An incubator's main goal is to produce successful Micro and Small Enterprises with an array of targeted resources and services. These incubates have the potential to create jobs, develop technology for import substitution, commercialize new technologies, and strengthen local and national economies.
References
[1] SMEs key to economic growth, recovery by Taka Munyanyiwa, Kenya

[2] 4th Census report, Ministry of MSME India

[3] Small Business- Canada by Susan Ward, About.com Guide

[4] Centre for SME studies, IIFT, India

[5] (Types of business risks, Business portal of India, National Informatics Centre),

[6] ( US Small Business Association website)

[7] EU Centre for Strategy & Evaluation Services

[8] UKBI (UK Business Incubation)

[9] Best Practices for Managing Incubators, Rahul Patwardan, IndiaCo

[10] European Commission 96/280/EC report, Commission Recommendation of 3 April 1996.

[11] Annual Report 2011, Ministry of Micro, Small & Medium Enterprises, India

[12] Promoting Business and Technology Incubation for Improved Competitiveness of Small and Medium-sized Industries through application of Modern and efficient Technologies, ESCAPReport

[13] Policies and Support for Promotion of Business and Technology Incubation in India by Mr. P.K.B. Menon, Head, Department of Science and Technology, Ministry of Science and Technology, New Delhi, India, and Mr. Pradeep Bavadekar, Managing Director, Mitcon Consultancy Services Limited, Pune, Maharashtra

[14] Dr P.T. Ajith Kumar, Promoter, Light Logics Holography and Optics Pvt. Ltd, Technopark, Trivandrum

[15] Impact of Business Incubation in the Lessons for Developing Countries, National Business Incubation Association USA

[16] Global Practice in Incubation Policy Development and Implementation New Zealand Incubation Country Case Study

[17] The U.S. Small Business Administration Administers The Small Business Development Center (SBDC)

Untitled Page