Entrepreneurship Power Point Savedown

8/20/2019 Entrepreneurship Power Point Savedown

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Exploring EntrepreneurshipExploring Entrepreneurship

for Your Regionfor Your Region


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Reflecting on the Previous Sessions

What characteristics of the region led toyour interest in cultivating entrepreneurship

as an economic development strategy?

What regional clusters do you hope to

advance with entrepreneurshipdevelopment?


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Goal for this Session

Explore the tools and

resources necessary to

develop an action plan toenhance regional

entrepreneurship development


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Entrepreneurship

shouldnot

be theeconomic development

strategy of last resort.

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#he #hree$!egged Stool


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A Fe% "efinitions

Entrepreneur&

Person whose goal is to create or capitalize on new economic opportunities through innovation

Entrepreneurship&Process through which entrepreneurs create and grow

enterprises

Entrepreneurial 'ommunity&'ommunity where significant economic and socialentrepreneurial activity exists within an effective system

of public and private support

Entrepreneurship "evelopment&Policies and practices (public and private) that fosterentrepreneurship

Source: Based on Dabson and Wilcox (!"#


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Identifying Entrepreneurs

Smallbusinesses

Self- employed

People with

underused talentSocial

entrepreneurs

Unemployed

Innovators

High-growthbusinesses

Entrepreneurship

$outh


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'ollective (isioning

% What might be possible

in your region related to

entrepreneurship?

% What can build on past or

current accomplishments

within the region?


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)ey *uestions

Serve localneeds or

export?

&ecruit fromoutside or

grow locally?

'ast growing

or slow andsteady?


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Assessing Regional 'apacity

% 'ommunity surveys& nventory existing programs

)auge community readiness

Weigh leadership support

dentify existing business networ*s

nventory existing businesses

% ntervie%s %ith local entrepreneurs&

+ssess ambitions and needs dentify regional barriers


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'hallenges %ith Finding "ata

% ,avigating complex databases

% -sing consistent definitions of

.entrepreneur/

% 0omparing data across

sources

% )eography


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+easuring 'urrent Entrepreneurship

% &egional Economic +ccounts(Bureau of Economic Analysis)

% ,on1employer Statistics (Census)

% 0ounty Business 2atterns (Census)

% Survey of Business 3wners (Census)

% 2anel Study on Entrepreneurial Dynamics


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'ultivating ,e% Entrepreneurs

% Educational attainment

% mmigration and diversity

% 'inancial resources

% Business resources


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An Example from #ennessee


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% Where we are: Do gaps or unmet needsexist in self1employed4small businesses inour region?

% Where we are going: What do we hope toaccomplish for our region?

Establishing a Regional Goal


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Entrepreneur - Small

usiness "evelopment


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Access to 'apital

% nvestment is a .given/ forsuccess

% Different sources fit differentneeds

% &egional approach may have

new opportunities


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Supportive Environment

% 5uman6 financial6 and physicalinfrastructure

% Supportive climate that engages andcelebrates entrepreneurs

% 2ositive citi7en and communityattitudes

% 3pen and creative communityleadership that encourages andnurtures emerging leaders

Source: 8ar*ley et al (!!9#


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/o% ,urturing is Your Region0

'onception mplementation +ar1eting

% dea generation% 2roect planning

% Development% 2rototype creation% ;esting

% 2roduction%


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Entrepreneur ,et%or1s

nformal gatherings of entrepreneurs to shareexperiences and information

% 'acilitate6 but dont lead

% ,etwor*s should be .by and for/ entrepreneurs

!


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+entoring and 'oaching

0onnecting entrepreneurs with

the right people

at the right time


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#raining - #echnical Assistance

,ational

%e@tension 0ommunity of 2ractice

%Small Business +dministration

%Small Business Development 0enters

State2!ocal%State4


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Youth Entrepreneurship

% Why it is important? 'illing the pipeline with potential

businesses

0reating a culture that values self1

employment

'ostering innovation

% What can be done? n1school programs

+fter1school programs C156 )irl Scouts4Boy Scouts6 etc


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Programs4 +odels4 Resources

% Economic )ardening% nnovation 0enters

% ncubators

% ,etwor*s40lubs% Entrepreneurial


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alancing Available Assets

+sset mapping canhelp you identifyunder utili7ed assetswithin your region

EIually important isidentifying thoseassets which may be

at or over capacity


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Region5s Success 'omponents

'omponentof Success

People (olunteerAssociations

nstitutions PhysicalResources

arriers

+ccess to0apital

Environment

,etwor*s68entors60oaches

;raining =

;echnical +ssistance

$outh


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Your Region5s 'apacity for nnovation

% What are your regions mostcompetitive assets?

% What assets can help

launch new ideas andinnovations?

% What resources does your

region offer to foster

innovation?


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Audience +atters6

% Who are your target entrepreneurs?% What do they need from you?

% Which resources will be most valuable

to your region?

" fti Y


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"rafting Your

Regional Action Plan

!ood plans shape

good decisions"

#hat$s why good planninghelps to ma%e elusive

dreams come true"&

'ester obert Bittel


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Summary

% Success in economic

development strategies does not

happen overnight

% 3ther communities are havingsuccess

% Success reIuires time and energy

from the entire region

Entrepreneurship Power Point Savedown

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