ERIC Number: ED468842
Record Type: Non-Journal
Publication Date: 2002-Aug
Reference Count: N/A
Are High-Growth Entrepreneurs Building the Rural Economy? The Main Street Economist: Commentary on the Rural Economy.
Henderson, Jason R.
Creating opportunities for high-growth entrepreneurs is becoming increasingly important in rural America. Rural policymakers, who once focused on recruiting manufacturers that export low-value products, have realized that entrepreneurs can generate new economic value for their communities. Entrepreneurs add jobs, raise incomes, create wealth, improve the quality of community life, and help rural communities operate in the global economy. Each year, high-growth entrepreneurs create the bulk of new jobs in the United States. Still, rural America is creating relatively few high-growth entrepreneurs. To overcome the challenges of being small and remote, rural communities must help entrepreneurs tap venture capital markets to finance growth. They must help entrepreneurs gain access to the information and technology needed to spur growth. And they must help entrepreneurs acquire the technical and managerial skills to cultivate that growth. Rural policymakers are responding to these challenges by making entrepreneurship the cornerstone of many economic development strategies. Their strategies aim to build the skills of individual entrepreneurs, strengthen community resources for entrepreneurs, and create support networks. Universities and community colleges are offering entrepreneurship courses, and extension services provide programs to improve entrepreneurs' technical and Internet skills. Rural support networks are emerging in various forms, including networks of business incubators, angel investors, and technical assistance organizations. (TD)
Descriptors: Business Skills, Capital, Entrepreneurship, Extension Education, Higher Education, Networks, Public Policy, Rural Areas, Rural Development, Self Employment, Small Businesses, Technical Assistance
For full text: http://www.kc.frb.org/RuralCenter/mainstreet/MSE_0802.pdf.
Publication Type: Reports - Descriptive
Education Level: N/A
Authoring Institution: Federal Reserve Bank of Kansas City, MO. Center for the Study of Rural America.