ARC-Supported Study Examines Best Practices, Economic Development Impact of Rural Business Incubators
A comprehensive new study conducted by the National Business Incubation Association (NBIA), with support from the Appalachian Regional Commission and the Tennessee Valley Authority, identifies the best practices used by successful business incubation programs to grow companies and create jobs in rural areas.
Best Practices in Rural Business Incubation: Successful Programs in Small Communities presents case studies and data analysis identifying the most important practices, and combinations of practices, that benefit rural incubators. Underscoring the role business incubation can play in the economic development of rural areas, the study provides information on how accomplished programs achieve financial sustainability, fulfill their mission to graduate successful clients, and create community wealth.
The study's findings and implications were discussed by NBIA Vice President and COO Tracy Kitts and ARC Federal Co-Chair Earl Gohl at a May 14 event held at Shoals Entrepreneurial Center in Florence, Alabama. The center is a successful business incubator featured in the study.
Key findings include the following:
The full study, including recommendations based on the findings, is available from the bookstore on the NBIA Web site.