Fostering Entrepreneurship through Business Incubation: The Role and Prospects of Postsecondary Vocational-Technical Education (Report 1: Survey of Business Incubator Clients and Managers)

V. M. Hernandez-Gantes, R. P. Sorensen, A. H. Nieri

The U.S. Small Business Administration has indicated that approximately half of all new businesses fail within two years. This high percentage of small business failure suggests an area of opportunity for two-year colleges--the teaching and fostering of entrepreneurship as a new form of emerging vocationalism. Effective entrepreneurship can significantly expand students' career options, since approximately 98% of all enterprises in the United States are small companies. However, only a small number of two-year vocational-technical colleges try to provide business incubation or develop entrepreneurial services within their local communities. Why? For those institutions which do foster entrepreneurship, what are the economic implications for the students and the entire community? These, and related questions, are considered in this survey of business-incubator clients and managers.

MDS-893 / August 1996

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