**6. Conclusions**

Incubation of new businesses contributes to the creation of new businesses and, consequently, to economic and social development.

**169**

*Business Incubator and Economic Development DOI: http://dx.doi.org/10.5772/intechopen.88562*

business development

• Creation of sectoral industrial parks

efficiency, and business productivity?

**Acknowledgements**

IEOMAB\_ISCAL.

and, on the other hand, in creating new businesses.

cal application to business and economic realities

In this respect, the following question may be raised:

of sectorial and technological specialization [6].

development (local, regional, and national), such as:

The installation of incubators is a way of encouraging the creation of small businesses and recognition of their role in local economic dynamism in terms of job creation, the establishment of qualified young people, and the development of areas

In this context, complementary instruments can be used to promote economic

• Professional training to meet the technical needs of the labor market

• Entrepreneurial training leading to the emergence of new start-ups

• Academic training in line with Government's sectoral and regional bets

• Creation of specialized university citadels, by technical-scientific areas, with the provision of all sociocultural, economic, and financial services inherent in

• Launching public funding programs in conjunction with (i) technological parks, (ii) sectoral industrial parks, (iii) incubators, and (iv) universities (units/centers/research centers), in order to place academic research at the service of development and economic growth, in particular through its practi-

What is the current added value for the economics emanating from academic papers published in specialty journals—for example, in terms of setting up startups, creating business and new products and services in incumbent companies, and penetrating new international markets or expansion in regional markets, increased

Therefore, an integrated national structure (incubators, technological parks, sectoral industrial parks, and specialized university centers) will have to be implemented in order to propagate a climate conducive to the emergence of new, tangible ideas, on the one hand, in improving the competitiveness of established companies

This work was partially supported by the Polytechnic Institute of Lisbon through the Projects for Research, Development, Innovation and Artistic Creation (IDI&CA), within the framework of the project IEOMAB—internationalization of companies operating in the Angolan and Brazilian markets, IPL/2019/

#### *Business Incubator and Economic Development DOI: http://dx.doi.org/10.5772/intechopen.88562*

*Intellectual Property Rights - Patent*

responsible for the success of the idea.

years of dedicated work to the company.

able burden on the entrepreneur.

result in the end of the business.

before the obtained feedback of the market.

consequently, to economic and social development.

2.*Challenge of a new company/sense of accomplishment*: for a large number of entrepreneurs, the challenge of a new company is fun. The opportunity to develop a concept and make it a profitable business provides a meaningful sense of accomplishment where the entrepreneur knows that he or she is solely

3.*Independence/financial control*: while frequent mention is made of the financial independence of entrepreneurs, it does not necessarily mean that they want to be wealthy but want more control over their financial situation. They do not want to be subject to unexpected announcement dismissal of employees after

If self-employment were easy to achieve, there could be a much larger number of self-employed people. In fact, it is one of the most difficult professional careers anyone can choose. Some of the disadvantages of this life option are described below:

1.*Personal sacrifices*: especially in the early years of the business, the entrepreneur often has to work many hours during the 6 or 7 days of the week. This leads almost to lack of time for fun, family life, or personal reflection. Business takes up a lot of time in the lives of entrepreneurs, resulting in stress in family life and a high level of stress. The entrepreneur must wonder about how much he is

willing to sacrifice himself in order to make the business successful.

2.*Overload of responsibility*: the entrepreneur has a burden of responsibility distinct from that of the employees of a company. In companies, employees are usually surrounded by other people—of a similar professional or technical level—with the same interests. It is possible to share information while having lunch or after working hours, assuming a sense of cooperation. In turn, the entrepreneur knows that he is alone in the organizational top. While employees in companies specialize in specific areas such as marketing, financial, or commercial, entrepreneurs have to manage all these operational functions until the business is sufficiently profitable to hire employees with the necessary technical knowledge. The need to master several technical areas is a consider-

3.*Small margin for error*: large companies often make decisions that prove to be unprofitable, for example, the launch of products that are not well accepted by the market and the opening of points of sale in disadvantageous places. On the other hand, small businesses operate with a narrow financial cushion because the only financial resources available are those of the entrepreneur. Even after years of successful activity, a wrong decision or a weakness in management can

In short, small businesses' ability to innovate stems from their learning of the market, recognition of the need for rapid change, and organizational flexibility [20]. These valences are a support to the decision-making in the self-employment

Incubation of new businesses contributes to the creation of new businesses and,

**168**

**6. Conclusions**

The installation of incubators is a way of encouraging the creation of small businesses and recognition of their role in local economic dynamism in terms of job creation, the establishment of qualified young people, and the development of areas of sectorial and technological specialization [6].

In this context, complementary instruments can be used to promote economic development (local, regional, and national), such as:


In this respect, the following question may be raised:

What is the current added value for the economics emanating from academic papers published in specialty journals—for example, in terms of setting up startups, creating business and new products and services in incumbent companies, and penetrating new international markets or expansion in regional markets, increased efficiency, and business productivity?

Therefore, an integrated national structure (incubators, technological parks, sectoral industrial parks, and specialized university centers) will have to be implemented in order to propagate a climate conducive to the emergence of new, tangible ideas, on the one hand, in improving the competitiveness of established companies and, on the other hand, in creating new businesses.
