VALDOSTA – A new study recommends Valdosta move forward with a business incubator but also outlines challenges that could hinder the program.

The Valdosta-Lowndes County Chamber of Commerce released the report Tuesday morning. The report was prepared by the Georgia Institute of Technology Enterprise Innovation Institute.

While the study found “there is a demand and justification for a business incubation program in Valdosta,” the recommendation to move forward with the program came with caveats.

The study identified several weaknesses in the Lowndes County area, including low business ownership rates, limited access to capital and a resistance to change among community leaders.

The study concluded Valdosta State University would be the “key to the success” of a business incubation program in the area. The first recommended step is to form a committee to lead development of an incubation program which would contain representatives from area private sector, public sector and academic institutions.

Read the full study here.