IDEA INCUBATION AND BUSINESS GROWTH; A STUDY OF BUSINESS INCUBATION CENTRES IN SOUTH EAST NIGERIA

Abstract

This work, titled Idea incubation and business growth, was carried out to determine the relationship between the dependent variable to the independent variable decomposed to idea support system and business advancement. The study adopted a descriptive design. Four Federal Government owned incubation centres in the South East Nigeria provided the population of the study, particularly the management staff/trainers numbering 112. Total enumeration was adopted as sample size. The instrument for data collection was a 5 points Likert scaled and structured which was subjected to both face and content validity, while pilot test which analyzed with spearman Brown Correlation coefficient result yielded 0.811 for reliability. The hypothesis was tested with Pearson Product Moment Correlation Coefficient at 95% confidence. The result is that there is a significant positive relationship between idea support system and business advancement. This study concluded that innumerable ideas need not be wasted, but can be collected, sorted, banked incubated as need arises and harnessed for societal good. This study recommended that governments everywhere and institutions should work together to establish idea incubation support systems to aid Small and Medium Enterprises to incubate and harness their business ideas for collective good, as business advancements will help enhance standard of living, reduces social vices, to meet societal need economically while absorbing millions of unemployed in the global community.