ERIC Number: ED313182
Record Type: Non-Journal
Publication Date: 1989-Jun
Reference Count: N/A
Community-Based Small Business Start-Up Funds.
Western Rural Development Center, Corvallis, OR.
Many small towns are considering community-based start-up funds (SUF) to foster development and retention of small businesses. But whether a community is large or small, a group must be well-organized before it begins to make decisions concerning the design and purpose of a small-business SUF. This primer highlights some main points a community should ponder before even starting on the long path to establish, operate, and maintain a local SUF successfully. It assumes that a community has decided to consider an SUF. The discussion in each section of the primer gives alternatives, possibilities, or advice that will be guideposts for decision makers. The community will ultimately have to decide the goals of its SUF, and how it will be set up, structured, and operated. The first section deals with setting the stage, helping communities answer the questions of whether or not a local SUF is needed and attainable, and how it might best fit in with other programs. Major pitfalls to avoid include: (1) lack of oversight; (2) poor use of investment instruments; and (3) defining too small a service area. Starting with a business plan, communities should then define: (1) what the SUF will do; (2) how large it should be; (3) a SUF business organization form; (4) investment objectives; and (5) the investment instruments it will use. Communities must also find a source of funds, cover their liabilities, and consider other possibilities for fully accomplishing its goals. Ideas are offered for community action. (TES)
Descriptors: Business Administration, Community Development, Community Programs, Economic Development, Financial Services, Investment, Program Development, Rural Development, Rural Economics, Small Businesses
Western Rural Development Center, Oregon State University, Ballard Extension Hall 307, Corvallis, OR 97331-3607 ($1.00).
Publication Type: Reports - Descriptive
Education Level: N/A
Sponsor: Extension Service (USDA), Washington, DC.
Authoring Institution: Western Rural Development Center, Corvallis, OR.