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The measurement of success in a business incubation project

Pam Voisey, Lynne Gornall, Paul Jones Orcid Logo, Brychan Thomas

Journal of Small Business and Enterprise Development, Volume: 13, Issue: 3, Pages: 454 - 468

Swansea University Author: Paul Jones Orcid Logo

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DOI (Published version): 10.1108/14626000610680307

Abstract

The purpose of this paper is to examine the impact and success of a business incubation project on its participants. The study aims to consider the impact of the project in terms of developing and supporting entrepreneurial activity within Wales. It seeks to build on and enhance existing business in...

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Published in: Journal of Small Business and Enterprise Development
ISSN: 1462-6004
Published: Emerald Publishing Ltd 2006
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URI: https://cronfa.swan.ac.uk/Record/cronfa44675
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spelling 2018-10-02T09:53:40.1594212 v2 44675 2018-10-02 The measurement of success in a business incubation project 21e2660aaa102fe36fc981880dd9e082 0000-0003-0417-9143 Paul Jones Paul Jones true false 2018-10-02 BBU The purpose of this paper is to examine the impact and success of a business incubation project on its participants. The study aims to consider the impact of the project in terms of developing and supporting entrepreneurial activity within Wales. It seeks to build on and enhance existing business incubation literature and contribute to the field by identifying “good” practice and considers the measurement of success within such projects. This study employs an individual case study methodology which evaluates all aspects of the Graduate Teleworking Initiative (GTi) project. A range of qualitative and quantitative methods is utilised to capture the views of aspiring entrepreneurs. In addition the progress of entrepreneurs is compared with “distance travelled” methodologies developed by other EU programmes, using the experiences of GTi businesses as individual case histories. In addition, this paper looks at additional ways to measure the success of this type of project, based on a study of the current academic literature and work currently being undertaken with funding agencies in Wales in respect of economic regeneration. The case study method is recognised as the most effective research strategy to capture the “rich” experience of complex projects.The study finds that, if incubation facilities are to receive continuing support, the measurement of success needs to be broader than a set of statistical outputs. The academic literature queries whether business incubation works, and invites us to decide if the end result is of value or not. This paper considers additional ways to measure the success of this type of project. Applications for public funding in support of business incubators as part of an overall economic regeneration strategy should be able to provide a wider evaluation of effectiveness, and this paper seeks to develop a model to this purpose, to assist the ongoing development of incubator facilities in Wales. This study will be of interest to business incubation providers and entrepreneurial researchers in identifying valid and achievable success measures and should inform developments in this field. The paper provides a unique insight into a successful business incubation project and identifies the key to its on going success. Furthermore, the study identifies generic measures of success for a typical business incubation project based on the GTi experience and a detailed investigation of alternative business incubators. Journal Article Journal of Small Business and Enterprise Development 13 3 454 468 Emerald Publishing Ltd 1462-6004 Business development, Entrepreneurialism, Graduates, Teleworking, Value analysis, Wales; incubation 31 12 2006 2006-12-31 10.1108/14626000610680307 https://www.emeraldinsight.com/doi/full/10.1108/14626000610680307 COLLEGE NANME Business COLLEGE CODE BBU Swansea University 2018-10-02T09:53:40.1594212 2018-10-02T09:53:40.1594212 Faculty of Humanities and Social Sciences School of Management - Business Management Pam Voisey 1 Lynne Gornall 2 Paul Jones 0000-0003-0417-9143 3 Brychan Thomas 4
title The measurement of success in a business incubation project
spellingShingle The measurement of success in a business incubation project
Paul Jones
title_short The measurement of success in a business incubation project
title_full The measurement of success in a business incubation project
title_fullStr The measurement of success in a business incubation project
title_full_unstemmed The measurement of success in a business incubation project
title_sort The measurement of success in a business incubation project
author_id_str_mv 21e2660aaa102fe36fc981880dd9e082
author_id_fullname_str_mv 21e2660aaa102fe36fc981880dd9e082_***_Paul Jones
author Paul Jones
author2 Pam Voisey
Lynne Gornall
Paul Jones
Brychan Thomas
format Journal article
container_title Journal of Small Business and Enterprise Development
container_volume 13
container_issue 3
container_start_page 454
publishDate 2006
institution Swansea University
issn 1462-6004
doi_str_mv 10.1108/14626000610680307
publisher Emerald Publishing Ltd
college_str Faculty of Humanities and Social Sciences
hierarchytype
hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
url https://www.emeraldinsight.com/doi/full/10.1108/14626000610680307
document_store_str 0
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description The purpose of this paper is to examine the impact and success of a business incubation project on its participants. The study aims to consider the impact of the project in terms of developing and supporting entrepreneurial activity within Wales. It seeks to build on and enhance existing business incubation literature and contribute to the field by identifying “good” practice and considers the measurement of success within such projects. This study employs an individual case study methodology which evaluates all aspects of the Graduate Teleworking Initiative (GTi) project. A range of qualitative and quantitative methods is utilised to capture the views of aspiring entrepreneurs. In addition the progress of entrepreneurs is compared with “distance travelled” methodologies developed by other EU programmes, using the experiences of GTi businesses as individual case histories. In addition, this paper looks at additional ways to measure the success of this type of project, based on a study of the current academic literature and work currently being undertaken with funding agencies in Wales in respect of economic regeneration. The case study method is recognised as the most effective research strategy to capture the “rich” experience of complex projects.The study finds that, if incubation facilities are to receive continuing support, the measurement of success needs to be broader than a set of statistical outputs. The academic literature queries whether business incubation works, and invites us to decide if the end result is of value or not. This paper considers additional ways to measure the success of this type of project. Applications for public funding in support of business incubators as part of an overall economic regeneration strategy should be able to provide a wider evaluation of effectiveness, and this paper seeks to develop a model to this purpose, to assist the ongoing development of incubator facilities in Wales. This study will be of interest to business incubation providers and entrepreneurial researchers in identifying valid and achievable success measures and should inform developments in this field. The paper provides a unique insight into a successful business incubation project and identifies the key to its on going success. Furthermore, the study identifies generic measures of success for a typical business incubation project based on the GTi experience and a detailed investigation of alternative business incubators.
published_date 2006-12-31T03:56:00Z
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score 10.997956

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