Building An Entrepreneur Friendly Community Public Private Partnerships to Build an Enabling Culture for Entrepreneurship

An Entrepreneur Enabling Culture An enabling culture is all about creating fertile ground in which entrepreneurs can start, grow and prosper The local culture is defined by the way residents and leaders view entrepreneurial activity and risk and innovation and even diversity and newness

Building an Enabling Culture An enabling culture doesn’t just happen, it is intentionally built and nurtured by community leaders, local business & industry, and the entrepreneurs themselves

Elements of an Enabling Culture Shared history and vision Champion Team with a linchpin Celebration of entrepreneurship Entrepreneurs give back Diversity and acceptance Ethic of information-sharing Quality of life Source: National Commission on Entrepreneurship

Focus on Four Elements in this Session Shared history and vision Champion Team with a linchpin Celebration of Entrepreneurship Entrepreneurs give back

Element 1: Community Shares History and Vision Community leaders know history of entrepreneurial development in area ⇨ Can point to first leaders/enterprises from which entrepreneur focus grew Entrepreneurs understand and articulate challenges and desired future ⇨ Entrepreneurs share understanding of challenges ⇨ Vision of the future is widely understood and shared

Project Discussion Topic One Describe the history of entrepreneurship in (name of community) Describe the challenges currently faced by local entrepreneurs Describe the vision of the future held by local entrepreneurs How deep, complete and widely understood are these statements?

Element 2: The Entrepreneurship Support Team Access to educational resources Ties to community leaders who create support in the community Credibility with entrepreneurs Entrepreneurs to serve as mentors One person to inform and connect the team Source: North Carolina Rural Development Center

Project Discussion Topic Two What organizations currently provide access to educational resources? Which community leaders could create community support for entrepreneurs? Which existing entrepreneurs could serve as mentors? Who could serve as the linchpin to connect the team?

Element 3: Entrepreneurship is Celebrated Public officials, community leaders, business leaders and media celebrate entrepreneurial activity and success Risk taking and innovation is understood and valued

Project Discussion Topic Three How do public officials, community leaders, business leaders and media currently celebrate entrepreneurial activity and success? How is the value of risk taking supported in the community?

Examples from North Carolina and Georgia Entrepreneur of the year/month Small business of the month Small business expo Local resource fair 14 county regional resource fair Ribbon Cuttings Shop at Home Radio and TV spotlights Showcase business of the month Business Plan competition

Element 4: Entrepreneurs Give Back to Community Successful entrepreneurs contribute time as well as money Successful entrepreneurs lend expertise and effort where it is most important Entrepreneurs see these actions as a way to help develop the communities existing and future entrepreneurial culture as well as their own ventures

Project Discussion Topic Four How do entrepreneurs currently contribute time as well as money? Where do entrepreneurs currently lend expertise and effort to the community? Is there a need for more contributions from entrepreneurs to help develop the communities existing and future entrepreneurial culture?

Prioritizing Project Topics Instructions: Please rank the four elements of an enabling culture from one to four in order of importance, with the most important being #1, second most important being #2, and so forth. Shared history and vision Champion Team with a linchpin Celebration of entrepreneurship Entrepreneurs give back

Greater Depth on this Topic Is there a need and interest to schedule a work session to go into this topic at a greater depth? The session would look at the current condition that we defined today, consider more best practices from other communities and begin to develop strategies and action steps. If there is a need who are the individuals that desire to join the sub-group.

Resources for Creating Entrepreneurial Culture RUPI Center for Rural Entrepreneurship Economic Gardening: City of Littleton, Col. Georgia Department of Economic Development Entrepreneur Friendly Communities Initiative ities.htm North Carolina Rural Development Center: Institute for Rural Entrepreneurship

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