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Venture capital is a lagging indicator of an entreprenurial economy, not a leading indicator. That said, local and regional civic leaders can encourage the formation of more effective networks of early stage investors.

The current focus in rural small business development involves helping the rural
entrepreneur.

AIBL and other organizations across the West are part of a groundswell of entrepreneurialism, said Velma Pretty on Top, director of Billings-based Native American Development Corp. That nonprofit has two revolving loan funds and offers technical assistance and training for would-be business owners.

Now is the perfect time to create a tech startup — As long as you have a perfect plan.

The business leaders have formed a volunteer think tank to research and develop strategies for fostering entrepreneurship and innovation in Western Kentucky.

"DECA is a precursor to how to expand the business world and how to be able to survive in the business world," he said. "(Helping these kids) is like watching a flower bloom. All of a sudden it starts clicking for them."

The Kauffman Foundation’s Hot Shot Business, the award-winning Internet entrepreneurship simulation for kids, now has been enhanced to give players an even more challenging taste of what it takes to start and run a business.

“The survey is a great vehicle to benchmark regional perceptions. I hope the findings will stimulate discussion on how our region can maintain its competitive advantage as a great place to start and grow an entrepreneurial company.”

Local businesses that take bold and creative initiatives are far more likely to expand and improve local economies than are outside investors. Towns that wait for a big factory to come along might as well be scratching lottery tickets. The real payout is in helping locally successful businesses to become even more successful.

"These off-timetable learning experiences help the students become more engaged, involved and socially responsible members of their future communities, and they demonstrate to employers that UW-Madison students bring the ‘full package’ to their companies," said College of Engineering dean Paul Peercy, in a press release.