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Center for Rural Entrepreneurship News

A Rural Policy Research Institute National Research and Policy Center

Rural Entrepreneurship News

Vol. 2 No. 11 –October 8, 2003

Welcome to Rural Entrepreneurship News – the monthly electronic newsletter of the Center for Rural Entrepreneurship, a RUPRI national research and policy center with founding support from the Ewing Marion Kauffman Foundation. The Appalachian Regional Commission is a contributing partner to this newsletter. Rural Entrepreneurship News summarizes developments in the field of rural entrepreneurship. We welcome your suggestions and questions. Rural Entrepreneurship News is available free of charge. To subscribe, send an email to [email protected] and in the body type “subscribe” only. Subscribers will receive a welcome message and additional information about how to unsubscribe if you wish.

That Vision Thing

Developing a vision for the future of Rural America is important to all of us who work in and for rural places. This week’s commentary by Tom Rowley, RUPRI Fellow, addresses this issue in an inspiring and eloquent way. To read his weekly editorial, go to http://www.rupri.org.

Networking Opportunity for Southeast Entrepreneurs

The Fourth Annual “Business and Technology in the Real World” Conference and Expo will be held on October 14-15, 2003 in Augusta, Georgia. This year’s conference theme is “Follow the Money.” The conference is sponsored by HBA Group in partnership with the U.S. Department of Commerce’s Minority Business Development Agency and the Governor’s Small Business Center. The conference will provide an opportunity to meet venture capitalists and angel investors and to network with other minority-owned, women-owned and small business owners from the Southeast. For more information about the conference, contact [email protected] or visit their web site at http://www.hbagroup-intl.com.

Micro Mentors

MicroMentor is an on-line program that connects small, low-income business owners, or "microentrepreneurs," to individuals who have successfully navigated business ownership or management in the same industry. Collaborating with community-based microenterprise organizations, national trade associations and corporate partners, MicroMentor helps these microentrepreneurs gain access to markets and increase revenue and profitability by offering on-line, time-convenient mentoring. By merging Internet technology with personalized mentoring, MicroMentor is dedicated to the proposition that low-income microentrepreneurs are crucial to the economic and social well-being of our communities. MicroMentor was officially launched in fall 2001 and is being tested through a two-year pilot project in California. The first pairings of emerging and experienced entrepreneurs were made in summer 2002, and already MicroMentor has begun to see some promising results. As a result, MicroMentor is now making a big national push to recruit more mentors. Mentor candidates must have at least five years experience running a successful business, and be willing to commit one hour per week for six months to on-line mentoring. To volunteer as a mentor or to learn more about the project, visit http://www.micromentor.org.

GEM 2002

The Global Entrepreneurship Monitor 2002 found that levels of entrepreneurial activity in the U.S. are holding steady. Two areas of concern are highlighted. One, the study points out the need to expand entrepreneurial training beyond universities to community colleges, historically black colleges and universities, and technical schools. Two, the study recommends that policy makers consider ways to encourage informal investing that is particularly important for new businesses and for women and minority entrepreneurs. To read the entire U.S. report, go to http://www.kauffman.org/pages/372.cfm.

Girls Going Places Scholarships and Conferences

Girls Going Places College Scholarship Program is The Guardian Life Insurance Company’s annual initiative designed to help women create, invest and protect wealth by rewarding the enterprising spirits of girls ages 12 to 16. Guardian awards college scholarships to 15 girls who demonstrate budding entrepreneurship, are taking the first steps toward financial independence, and make a difference in their school and communities. Scholarship prizes totaling $30,000 are awarded among three top winners and 12 finalists each year. The nomination period for the Girls Going Places Scholarship Program begins September and ends February. Guardian also sponsors one-day Girls Going Places Entrepreneurship Conferences for girls ages 12-16, in conjunction with local agencies in various towns and cities. The conferences are designed to encourage financial literacy and help girls learn about starting businesses and managing personal finances. Successful local businesswomen share their ideas and experience as conference facilitators. For more information on these programs, go to http://www.glic.com/wc/ggp.html.

Conference Summary – Center for the Study of Rural America

"Main Streets of Tomorrow: Growing and Financing Rural Entrepreneurs-A Conference Summary" is now on the Federal Reserve Bank of Kansas City web site. This third quarter Economic Review article recaps the views expressed at the fourth annual rural policy conference hosted by the Federal Reserve Bank of Kansas City’s Center for the Study of Rural America. To read the conference summary, go to http://www.kc.frb.org/Publicat/econrev/ermain.htm.

From the Center for Rural Affairs

An article in the Center for Rural Affairs recent newsletter might be of interest to those of you working with rural entrepreneurs. Overcoming Rural Entrepreneurial Challenges with Support describes some of the activities of the Rural Enterprise Assistance Program (REAP), one of the Center’s programs. REAP is a statewide microenterprise program that works with entrepreneurs throughout rural Nebraska. Go to http://www.cfra.org/newsletter/current.htm#Feature and click on Feature Articles.

Would this work in your community?

Lexington United is a non-profit professional organization created to help businesses learn more about the business environment in Lexington, KY. While they provide information related to more traditional economic development activities, such as site and building availability, they have started a new initiative. It’s All About the E’s is a series of articles on local start-up companies that Lexington United has prepared. Promotion of local entrepreneurs is an important part of creating a community environment supportive of entrepreneurship. Maybe this innovative feature will work in your community. To read the articles included in this series, go to http://www.lexingtonunited.com/news.html.

From SSTI’s Weekly Digest for October 3, 2003

Within the last week, the U.S. Department of Agriculture (USDA) announced a slew of awards – 128 in all – for rural tech-based economic development initiatives. Collectively, the awards total $53.7 million, including: 84 Distance Learning and Telemedicine grants for a total of $32.4 million, providing greater educational opportunities and medical service to rural citizens in 41 states. The education projects will help 556 schools provide students with educational tools to better equip them for the global digital economy. Additionally, rural residents will have access to better, faster and more modern health care through 190 medical service facilities; 34 broadband community grants across 20 states totaling $11.3 million. The grants are expected to enable more residents to access the Internet. Communities selected do not have access to broadband connectivity for the essential services of police and fire protection, hospitals, libraries and schools. In return for receiving a grant, the communities will provide residents with computer and Internet access; $10 million in grants to establish agricultural innovation centers in 10 states: Indiana, Iowa, Kansas, Michigan, Minnesota, Montana, New Jersey, New York, North Dakota and Pennsylvania. The centers are designed to assist rural businesses, farmers and ranchers in developing value-added businesses through greater utilization of production agriculture commodities. Individual listings of the awards detailed above are available at http://www.rurdev.usda.gov.

Last Chance for EDFS Conference

Last chance to get in on EDFS’s Annual "How To" Loan Fund Conference in New Orleans, October 27-28, 2003. For more information, visit http://www.nado.org/edfs for a pdf or html version of the brochure or contact Bill Amt at 202-624-8467 or [email protected].

New on the Web

Presentation and speech to 2003 Tri-State Initiative Conference. Presented in McCook, Nebraska by Don Macke, Co-Director, September 12, 2003. Speech.

“Building Social Capital: A New Strategy for Retaining and Revitalizing Inner-City Manufacturers.” Gregg Lichtenstein. http://www.ruraleship.org/content/pdf/greggldoc.pdf.

Questions and Additional Information

Deb Markley – Rural Entrepreneurship News Editor and Co-Director – Center for Rural Entrepreneurship

72 Cedar Hills Circle – Chapel Hill, NC 27514-1620

Voice 919.932.7762 – Fax 919.932.5367 – Email [email protected]

Don Macke – Co-Director – Center for Rural Entrepreneurship

317 South 12th Street – Suite 200 – Lincoln, NE 68508-2197

Voice 402.323.7339 – Fax 402.323.7349 – Email [email protected]

Web http://www.ruraleship.org

Taina Radenslaben à [email protected] or 402.323.7336

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