6. Conclusion
The findings above indicate that the development of an industry cluster can provide significant advantages to local firms and the area economy, which significantly outweigh a number of disadvantages, which relate to the implications of establishing a cluster. The research in this paper shows that it would be a reasonable idea for Development Agency to invest in cluster development. However, before making its final decision regarding the investment, Development Agency should learn more about the determinants of cluster competitiveness, identify the most effective cluster-based development initiatives, which should help small businesses grow, become more competitive and create jobs for the benefit of the local community. Finally, the key for Development Agency would be to compare the costs of initiating a cluster with the potential benefits of a successful cluster development.
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