ERIC Number: ED462223
Record Type: Non-Journal
Publication Date: 1998
Reference Count: N/A
Developing Entrepreneurial Economies in Rural Regions: Lessons from Kentucky and Appalachia. Open Field Occasional Report.
Gurwitt, Rob; Kimel, Kris
A 1996 workshop held in Harrodsburg, Kentucky, explored the challenge of creating an entrepreneurial economy in predominantly rural states such as Kentucky with little or no history of widespread entrepreneurial activity. Traditional approaches to economic development in such states, such as spending on relocation incentives for out-of-state firms, have their place, but only as they help create the conditions for dynamic, indigenous economic activity. An entrepreneurial economy creates a culture in which people are encouraged to seek opportunity and embrace creative approaches to exploiting it. Building an entrepreneurial economy requires supply-side efforts that provide the tools and resources that entrepreneurs need, demand-side conditions such as an educational system that prepares entrepreneurs, and a culture that values entrepreneurship. A diverse capital infrastructure is needed that encourages large and small entrepreneurship ventures. Government financing programs must be accessible, and the local private business support system needs to provide a variety of high-level financial services. Educational systems should focus on overall quality as well as entrepreneurial skills such as managing change and risk, thinking creatively, and finding the opportunities inherent in problems. Nurturing an entrepreneurial culture involves fostering respect, microenterprise, savings, and the exchange of information about entrepreneurship. Suggestions are presented for developing the supply and the demand sides and for building support for entrepreneurship within the government, community, and the public at large. The successful creation of an entrepreneurial economy requires the involvement of a wide variety of stakeholders. A list of the workshop attendees is appended. (TD)
Descriptors: Business Education, Economic Development, Education Work Relationship, Educational Needs, Entrepreneurship, Human Capital, Lifelong Learning, Public Policy, Rural Areas, Rural Development, Small Businesses, Vocational Education
The Aspen Institute, Publications Office, P.O. Box 222, Queenstown, MD 21658 ($10). Tel: 410-820-5338; Fax: 410-827-9174; e-mail: firstname.lastname@example.org. For full text: http://www.aspeninstitute.org/csg/pdfs/economies.pdf.
Publication Type: Collected Works - Proceedings; Reports - Descriptive
Education Level: N/A
Sponsor: Ford Foundation, New York, NY.; Kentucky Univ., Lexington. TVA Rural Studies Program.
Authoring Institution: Aspen Inst., Durham, NH. Rural Economic Policy Program.
Identifiers - Location: Kentucky