Entrepreneurial ecosystem building is about growing an environment where entrepreneurial talent can be inspired and supported. More and better entrepreneurial ventures are outcomes of strong community-based entrepreneurial ecosystems.
U.S. banks play an integral role as credit suppliers to small businesses. Small businesses comprise of nearly all employer firms in the economy and employ 47.3 percent of the private sector workforce (SBA Advocacy, 2019). The existence and performance of these vibrant businesses depend on how banks and other financial intermediaries are responding to their credit needs. This report uses publicly available data on U.S. banks to analyze the patterns in small business lending.
Older workers are an economically important group as they represent a large and growing portion of the United States workforce. These workers are more likely to experience health conditions that limit their options in terms of the type and amount of work they pursue. Self-employed workers who report a new work-limiting health condition are more likely to remain in the workforce than wage and salary workers who also report a work-limiting health condition. Previous research suggests that self-employment provides more opportunities to accommodate work-limiting health conditions; this report explores whether self-employed workers with work-limiting health conditions report less physically demanding jobs or different hours and weeks worked than wage and salary workers who also report work-limiting health conditions.
Thumbtack released results of its first survey of small business owners in the 2020 presidential election. The data captures sentiment and preferences from over 400 individuals in Iowa, New Hampshire, Nevada, and South Carolina.
As this year’s report findings and policy recommendations demonstrate, we have made significant strides in advancing a new generation of women entrepreneurs. However, much work still lies ahead. In 2020, we will build on the efforts of this past year, with a laser focus on our three main policy priorities—Access to Capital and Opportunity, Women in STEM, and Rural Women’s Entrepreneurship. As a Council, we remain dedicated to furthering our mission.
Rural economic development strategies need to adjust to these new trends to include a place-based approach to rural economic development that will foster a healthy ecosystem for the creation and growth of small businesses.
This toolkit describes the elements of a healthy ecosystem. The introduction flushes out why a new economic development tool is needed and briefly describes the elements. The five subsequent chapters explore more in-depth the five elements that make up a strong ecosystem.
Leaders in philanthropy increasingly recognize the role of business in advancing their objectives. To date, the focus of most efforts to engage business has been primarily on large companies. By contrast, the role of small business in creating healthy, equitable communities has generally not been explored.
The Richmond Fed’s recent report, Community Development Financial Institutions (CDFIs) by the Numbers, provides findings from the 2019 Federal Reserve CDFI Survey. CDFIs are specialized financial institutions operating in markets that are underserved by traditional financial institutions.
Small businesses show strength in self-employment increases, proprietors’ income gains, job creation advances and births staying above deaths. Loan delinquency rates remain low, but small business loan demand is waning.
Agri-FoodTech is an emerging category within the food startup universe with enormous potential to impact critical issues from climate change to food insecurity. More and more venture capital is being invested in the sector, but it’s not reaching one of the leading groups of entrepreneurs—female founders.