Presentation on theme: "Building An Entrepreneur Friendly Community Insert Community Name Insert Presentation Date Overview."— Presentation transcript:
Building An Entrepreneur Friendly Community Insert Community Name Insert Presentation Date Overview
Presentation Goals Raise the awareness regarding the value of entrepreneur based employment in (name of community) Identify the community support necessary to build a knowledge economy Outline the “Building an Entrepreneur Friendly Program” of Ohio State University Extension and (name of organization delivering curriculum)
Economy Transitions An Agriculture Economy A Manufacturing Economy A Knowledge-based Economy
A Manufacturing Economy (Name of Community) Trends
President Eisenhower and the 50’s What major construction program did President Eisenhower initiate that changed the American economy?
The Interstate Highway System Began with the National Interstate and Defense Highways Act of 1956 Three states claim to be the first stretch of interstate highway 1. Missouri signed first three construction contracts on August 2, Kansas first to start paving on September 26, Pennsylvania Turnpike piece opened on October 1, 1940
Local Community Quarterly Employment: Source: Ohio Bureau of Labor Market Statistics State & county annual average employment for 12 years. Total Employment 2006: 12,262 Total Employment 1995: 10,223
(Name of Community) Quarterly Employment: 4th Quarter 2007 compared to 2001 Source: Ohio Bureau of Labor Market Statistics Health Care & Social Assistance3001/2734 Retail trade1515/1885 Accommodation & Food Services923/971 Utilities809/839 Manufacturing628/1021 Construction534/405 FIRE454/423 Administrative & Waste Services354/151 Other354/324 Transportation & warehousing244/327 Wholesale Trade230/206 Information96/145 Professional & Technical Services93/83 Agriculture and Forestry45/44 Arts, entertainment and recreation44/28
(Name of Community) Manufacturing Source: Ohio Bureau of Labor Market Statistics Summary Profile For: Community Name (View Map) NAICS Code: Manufacturing NA=suppressed due to confidentiality Item Type (definitions) Number of Establishments All Employees Total Wages (in thousands) Average Annual Wage ,065$37,492$35, $35,415$35, ,010$36,665$36, $31,846$33, $32,534$37, $27,508$34, $26,062$39,688 Absolute Change $-11,430$4,471 Percent Change %-38.3%-30.5%12.7%
(Name of Community) Administrative Services Source: Ohio Bureau of Labor Market Statistics Summary Profile For: Name of Community (View Map) NAICS Code: 56 - Administrative and waste services NA=suppressed due to confidentiality Item Type (definitions) Number of Establishments All Employees Total Wages (in thousands) Average Annual Wage $2,963$14, $2,903$14, $5,840$14, $6,782$15, $6,713$17, $6,349$19, $5,189$17,351 Absolute Change $2,227$3,142 Percent Change %43.1%75.2%22.1%
(Name of Community) Information Source: Ohio Bureau of Labor Market Statistics Summary Profile For: Name of community (View Map) NAICS Code: 51 - Information NA=suppressed due to confidentiality Item Type (definitions) Number of Establishments All Employees Total Wages (in thousands) Average Annual Wage $3,529$26, $3,602$25, $3,713$24, $3,732$23, $3,817$24, $2,885$29, $2,996$32,105 Absolute Change $-533$5,469 Percent Change %-30.1%-15.1%20.5%
(Name of Community) County Healthcare & Social Assistance Source: Ohio Bureau of Labor Market Statistics Unavailable
Number of Workers by Size of Firm Source: Ohio Bureau of Labor Market Statistics Size of FirmNumber of Workers 2007/2004 Four and under513/ / / / /991303/ / / Suppressed to maintain confidentiality. One thousand and over Suppressed to maintain confidentiality.
Number of Establishments by Size of Firm Source: Ohio Bureau of Labor Market Statistics Size of FirmNumber of Establishments 2007/2004 Four and under314/331 (-90 jobs) /121 (+71 jobs) /77 (+18 jobs) /49 (-174 jobs) /19 (-42 jobs) /10 (+203 jobs) /6 (-425 jobs) Suppressed to maintain confidentiality One thousand and over Suppressed to maintain confidentiality
Group Discussion Based on the previous information: How would you describe the (community name) business community? What is the impact of small firms in (community name) economy?
State Job Outlook 2014 Source: Ohio Bureau of Labor Market Statistics
(Name of Community) Professional Services Source: Ohio Bureau of Labor Market Statistics Summary Profile For: Name of Community (View Map) NAICS Code: Professional and technical services NA=suppressed due to confidentiality Item Type (definitions) Number of Establishments All Employees Total Wages (in thousands) Average Annual Wage $1,432$17, $1,488$18, $1,457$17, NA 2004NA 2005NA $3,092$31,521 Absolute Change $1,660$13,642 Percent Change %22.5%115.9%76.3%
State Economic Analysis, 2007 Source: Ohio Department of Jobs and Family Services, Office of Workforce Development Two long-term trends will continue: women will continue to participate in the labor force in greater numbers the overall labor force will continue to age In addition four out of the top six growth industries will be in health care.
State Economic Analysis, 2007 Source: Ohio Department of Jobs and Family Services, Office of Workforce Development Skills-based analysis points to the need for a highly literate workforce with more critical thinking communication-related skills
Region X Workforce Analysis Report Source: Ohio Department of Jobs and Family Services, Office of Workforce Development Most important workplace skills to develop in the Region X reading comprehension critical thinking active listening speaking coordination
The Knowledge Economy
The New Superhighway What is today’s new superhighway?
TECHNOLOGY and EDUCATION
Knowledge Based Economy Use of information to generate ideas leading to new innovations Knowledge based growth is created from people’s ability to combine education, experience and ingenuity Source: Can Rural America Support a Knowledge Economy Henderson & Abraham; Federal Reserve Bank of Kansas City Entrepreneurs are a key driving force of the knowledge economy
A Knowledge Based Business Is a childcare service a knowledge based business?
Knowledge Economy Skill Level The state needs more then 230,000 additional college students enrolled by 2017 to participate in a better state economic future These additions must come from high-achieving youth in low income and first generation families who haven’t in the past considered college Source: Strategic Plan for Higher Education
Youth & Entrepreneurship Gallop Poll indicated 69% of high school students wanted to start their own business; 84% felt unprepared to do so How many people have a desire to be an entrepreneur? Whatever the number, in places with supportive environments the number rises Source: Center for Rural Entrepreneurship, Rural Policy research Institute
Entrepreneurs in (Name of Community) Backyard The name of local institution is operating an MBA in entrepreneurship program. One of the students created a new company that is already serving area residents.
An Entrepreneur An entrepreneur is about the person, not the type of business Some Characteristics of Entrepreneurs 1.Creative 2.Innovative 3.Problem Solving 4.Resourceful These are also characteristics employers are seeking from employees in other sectors of the economy
Entrepreneur Activity Rates by State Source: Kaufmann Foundation, Kaufmann Index of Entrepreneurial Activity Highest Entrepreneur Activity Rate Entrepreneurs per 100,000 adults Idaho460 District of Columbia 460 Arizona460 Tennessee440 Louisiana440 Lowest Entrepreneur Activity Rate Entrepreneurs per 100,000 adults West Virginia80 Alabama100 Delaware140 Pennsylvania150 Ohio190
Three Types of Entrepreneurs Lifestyle Entrepreneur High Growth Entrepreneur Serial Entrepreneur
Lifestyle Entrepreneurs Source: Center for Study of Rural America Federal Reserve Bank of Kansas City
Lifestyle Entrepreneur Main goal is to provide personal income or support a lifestyle Create breadth in a community leading to a quality of life
High Growth Entrepreneur Create and grow a new businesses Add a significant number of jobs to a community while adding value to the local economy
Baby Einstein Founder: Julie Aigner-Clark from her home in suburban Denver in 1997 Julie and husband invested $18,000 of their saving to produce first video Sold to Walt Disney Company in 2001
Serial Entrepreneur Create a new venture and then sell it to create another venture Motivation is the joy of creating ventures
Go Big Network Wil Schroter’s history: Age 19, from OSU dorm started Blue Diesel sold it five years later 1997 started Kelltech internet Services and sold it in three years 2003 created Swaplease Today is developing Go Big Network with offices in an OSU incubator
Supporting Entrepreneurs Source: Center for Study of Rural America Federal Reserve Bank of Kansas City
Being an Entrepreneur Friendly Community
Building an Entrepreneur Friendly Community Program A partnership between Ohio State University Extension, (name of organization delivering curriculum and (name of local sponsoring organization(s)) Curriculum development funded by a grant from United States Department of Agriculture Rural Development Office
Building an Entrepreneur Friendly Community Program Goal: To build the capacity of local leaders to build and maintain an environment that supports creation and development of entrepreneurs
Course Outline Building Public Private Partnerships (Column to list date) (Column to list time) (Column to list location) Developing Supportive Infrastructure Creating Diverse Sources of Capital Business Retention & Expansion for Entrepreneurs
Course Outline Using Incubators to Support Entrepreneurs (Column to list date) (Column to list time) (Column to list location) Building Supportive Networks and Regional Business Clusters Finding, Collecting and Analyzing Business Data
Course Outline Creating Agriculture Entrepreneur Opportunities (Column to list date) (Column to list time) (Column to list location) Economic and Community Development Strategic Planning
Contact Information Put your name and affiliation on this slide. Please also give credit to author and Ohio State University Extension Adapted from an original presentation created by: Myra Moss, Associate Professor Ohio State University Extension October 2008
Web-based Course Material You can view all the presentations and reports from the series by visiting: ( Provide site name and web address, plus any directions to find materials once on the site)