MODEL OF ECONOMIC EFFICIENCY ASSESSMENT FOR BUSINESS INCUBATORS IN THE REPUBLIC OF MOLDOVA

Abstract

Incubators are places where both private and public resources meet the needs of small businesses in the critical stages of development. Community development depends on small businesses, which generate more jobs than larger businesses, as well as more than half of the major innovations. In addition, small businesses are more cost-effective in terms of research and development. Small and medium-sized enterprises face many and varied challenges in the development and operation of their business. Business incubation must be a tool for accessing new technologies, helping its customers to become more innovative, expand their market position and accelerate the development of their business. The best incubation environment is a catalyst for innovative business based on research results. Incubators must demonstrate the existence of their own monitoring procedures to quantify the achievement of objectives and whether they are harmonized with the needs of the incubated businesses. The way the clients are monitored during the incubation is an important indicator to maximize the chances of business survival and to establish growth rates.