The social, cultural, and economic transitions in rural areas across the globe lead us to critique the traditional "top-down" or "bottom-up" distinction as being outdated for contemporary rural policy. In Europe and the United States in particular, high rates of counterurbanization heighten the need for new ways of thinking about rural development. To address this, we describe the emergence of neoendogenous development theories in the United Kingdom and elucidate further on the economic implications of this approach for rural development. In particular, we examine the role of local and extralocal networks and population flows as facilitators of neoendogenous development based on our independent studies in northeast England and northern Scotland. This approach highlights the importance of diverse forms of capital in rural economies and examines the role of social networks in the utilization of these resources. In-migrant business owners are a valuable research focus as they provide a link between the "local" and the "extralocal," allowing greater insight into the creation and evolution of network ties in relation to economic activity in rural areas.