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Monica Delores Hooks, MBA, EDP, executive director of Atlanta’s Women’s Entrepreneurship Initiative (WEI), is part of the third cohort of certified Entrepreneurship Development Professionals. IEDC’s EDP credential is designed to build capacity for those supporting entrepreneurship in their communities, and demonstrates the skills and expertise to lead communities through entrepreneurship-led economic development (ELED). Why did you decide to pursue the EDP credential? Entrepreneurship is a pillar of economic development. Learning how it fits into the broader economic development landscape, understanding the trends, and fully employing all types of economic development tools to support entrepreneurship in 2023 is ...

IEDC is now accepting submissions for the 2023 Excellence and Leadership in Economic Development Awards. Take advantage of early-bird pricing and submit your entry by April 14. The Excellence and Leadership in Economic Development Awards recognize the world’s best economic development programs, partnerships, and marketing materials, and the year’s most influential economic development leaders. These prestigious awards honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities. Receiving an award showcases your achievements and impact in the field, and winners are recognized at IEDC's Annual Conference. Please email [email protected] with any questions. Sync ...

Small companies play a critical role in rural communities where there are fewer economic development opportunities than in urban areas. This is particularly true of second-stage companies, powerful job creators that have moved beyond the startup phase and are striving to scale larger. To accelerate growth for rural second-stagers, the Edward Lowe Foundation has developed a new program model that blends customized research, leadership development, and peer learning.

At IEDC’s 2022 Leadership Summit, Right to Start CEO Victor Hwang spoke about how to encourage entrepreneurship and increase startup growth in cities across the United States. He presented startling facts about U.S. startups, barriers entrepreneurs face, and actions to end the “startup slump”. Hwang pointed out several aspects of startups and entrepreneurship that policymakers often miss. For one, startups and young businesses are not just clustered in the tech sector, but can be found in nearly every business area. These businesses account for a large portion of U.S. net job growth and are major contributors to real GDP and wage growth. Hwang also emphasized that the number of U.S. startups has dropped significantly in ...

By Sarah Hay, IEDC intern As part of the Take Action Against Racism in Economic Development Webinar Series, IEDC hosted four minority women entrepreneurs to discuss challenges they face as small business owners. The women highlighted the role systemic barriers play in keeping Black, Indigenous, and People of Color (BIPOC) women out of entrepreneurship, and how economic developers can support these entrepreneurs. Miriam Yeung, founder of Miriam Yeung Consulting, focused on the unique role women of color hold in the economy. BIPOC women have always had to be entrepreneurial to care for themselves in a system designed for BIPOC women to serve others. BIPOC women still feel that legacy today. Barriers to entry created over centuries ...

The COVID-19 pandemic and the racial reckoning within the United States has exposed the need for increased investment and support for small business owners and entrepreneurs of color in communities across the country. Investing in Entrepreneurs of Color: A Playbook for Economic Developers—the latest publication by IEDC’s Economic Development Research Partners (EDRP) launching February 1—is a comprehensive guide for EDOs on how to support entrepreneurs of color as we continue to struggle through the pandemic and beyond. It includes multiple case studies, guidance on how to better understand the needs of entrepreneurs of color, and recommendations for EDOs and community leaders.

Congress has passed the Native American Business Incubators Program Act which authorizes grants to business incubators serving Native American communities. The bill requires the Department of the Interior (DOI) to establish a grant program in the Office of Indian Energy and Economic Development for incubators serving Native American entrepreneurs and businesses. Business incubator is defined as an organization that provides workspace and facilities to startups and established businesses, and is designed to accelerate growth through a variety of business support services. Grants have a three-year term and may be renewed for up to three more years. Applications are open to Native American tribes, tribal nonprofits, private nonprofits, and ...

Supporting and growing a strong entrepreneurial ecosystem is an important strategy that can benefit your community, the local economy and small business owners themselves. But the opportunity to become an entrepreneur is not equally accessible to everyone. In particular, African-Americans, Latinos, people of color and women are starting businesses at lower rates, are less likely to have additional employees and have lower profits. This disparity affects not only small business owners from these underrepresented population groups, but the communities they live and work in as well.