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Entrepreneurship Support Resources

Webinars 

Creating an Entrepreneurial Ecosystem Webinar (click to access recording here) 

In recent years, entrepreneurial development has become a job creation strategy utilized more and more by economic development organizations. With so many resources for entrepreneurs, is your community connecting these resources to create an environment that supports small business owners? Developing an entrepreneurial ecosystem takes identifying all resources and stakeholders, connecting them and filling the gaps you see in your network. Learn about the benefits, challenges and opportunities of creating an entrepreneurial ecosystem in your community at this free webinar.

One Size Does Not Fit All  (click to access recording here) 

Far too often, communities think that having one or two programs to support entrepreneurs is sufficient. But in reality, each stage and type of business has unique challenges and opportunities. Economic developers and entrepreneurship support organizations need to understand the different types and stages of small business, as well as their needs in order to successfully support entrepreneurship in their community.

Learn about microenterprises, main street businesses, second stage companies, and innovation-led businesses, as well as what you need to know to support them in your region, at this free webinar!

COVID-19: On Keeping Entrepreneurship Agile and Small Businesses Afloat  (click to access recording here)

In spite of the largest economic stimulus package in American history, including $377 billion dedicated to small businesses, entrepreneurs and small business owners are still struggling to keep their doors from permanently closing. What can be done at the local level now to help entrepreneurs and small businesses make it through COVID-19? Join IEDC as we speak with experts on entrepreneurship about what economic developers can do to assist those behind the businesses in your community.

 

Entrepreneurship News/Updates

Stage two companies—those with 10 to 100 employees and $1 million to $50 million in sales—create more jobs than firms of any other type. Economic Gardening is an approach designed to give them the strategic assistance they need to overcome barriers to growth.

Rural communities can take from the philosophy of economic gardening in cultivating growth businesses by offering technical and marketing resources, helping them network with their peers and establishing regional partnerships. 

Rural practitioners have spearheaded a focus on entrepreneurship-led economic development that demonstrates the value of investing time and resources in growth-oriented companies as the most effective path to creating jobs in areas with lower population densities.

The opportunity to become an entrepreneur is not equally accessible to everyone. Lack of capital investment and network connections leave African-Americans, Latinos, people of color and women starting businesses at lower rates, have lower profits, and are less likely to have additional employees.

Rather than pursuing corporate giants, economic developers should focus their efforts on supporting small businesses, the real engine of job growth.

A new SBA rule will ease eligibility requirements for the Historically Underutilized Business Zone (HUBZone) program to address long standing uncertainty from small businesses. 

Starting in 2020, the U.S. Small Business Administration will allow governors to submit one petition per year to designate HUBZone status to certain rural areas facing high unemployment.

A key component to supporting female entrepreneurs is increasing their access to social capital, or support networks, an underappreciated factor for success just as important as learning the right skills and securing access to credit.

With better access to export markets, small businesses could increase U.S. GDP by $81 billion and add 900,000 jobs.