Operation of Business Incubators in Latvia during the Times of Economic Crisis

Kārlis Markus () and Viesturs Zeps ()
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Kārlis Markus: University of Latvia, Jelgava, Latvia
Viesturs Zeps: BA School of Business and Finance, and, Investment and Development Agency of Latvia, Riga, Latvia

Chapter 2010-06 in European Entrepreneurship as an Engine for Post-Crisis Development – Challenges and Opportunities. Proceedings of the International Conference, 8 – 10 September 2010, Borovets, Bulgaria, 2012, pp 91-103 from Bulgarian Association for Management Development and Entrepreneurship

Abstract: From 2008 to 2010 Latvia underwent a severe economic crisis that led to a considerable drop of economic activity. In order to overcome the problems caused by the crisis, the government together with the International Monetary Fund and European Commission developed a plan for stabilising economy that was based on inner devaluation, reduction of budget spending and restructuring of economics. At present, as a result of the crisis favourable conditions for starting up new businesses have formed, and there should be steps taken to encourage the establishment of new enterprises. Business incubators are an instrument with the help of which one may encourage and support the operation of new enterprises in their initial stage in an efficient way and give technical and consultative support to them. Since 2009, they have been formed in all regions of Latvia.

Date: 2012
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