21 Dec 2021 By Know Muslim
Entrepreneurship can be a rewarding experience; young entrepreneurs need proper training guidance and a platform to convert their raw business idea into a profitable business.
Majority of our youth remains unemployed due to a lack of job opportunities. But the adaption of latest communication skills and technologies has led to the growth entrepreneurial culture in the country.
For this purpose, various incubation centers have been established across the country and according to a study, there are over thousands business incubators or shared business facilities around the world.
This increase in startups of entrepreneurship is a positive sign but it is a fact that hardly 10 percent of those new firms are able to sustain in the market.
This lack of sustainability is due to the lack of knowledge. The inability to respond to consumer preferences, market demands and changes.
Moreover, the centers shall ensure that the incubated startups stay one step ahead of their competitors Better business strategies and marketing plans will help in the correct identification of target audience and customer base.
With free office space, a part providing startup opportunities, Business Mentorship, Trainings. The incubated startups on a zero-equity model. Which means they are required to pay back? Each service is targeted to support and sustain the startups to transform their idea into a functional product service.
Ref:
https://nation.com.pk/15-Dec-2021/why-is-there-a-need-of-technological-incubators-in-pakistan
Information regarding Muslim World and Pakistan.
