A comparison of UK business incubation practice and the identification of key success factors

Business incubators play a critical role in the development and support of new enterprises and contributing to economic growth. Within Wales, a number of government and European funded incubators are enabled via educational institutions. However the majority of this funding is short term and these incubators must develop sustainable models or face extinction. This study compares and contrasts four business incubation case studies and identifies the critical success factors for successful and ongoing operation. A conceptual framework is presented as a guide to best practice for business incubation. Key success factors are identified such as the development of wider partnerships with key stakeholders such as local authorities, regional developments agencies, FE colleges, Universities and private sector organisations.[...]