The community and economic development literature is increasingly pointing to the significant impact entrepreneurship can play in economic development. Few Indiana communities, however, have articulated an entrepreneurship strategy. Indiana communities, especially rural communities, cannot rely exclusively on industrial attraction activities to grow their economy. Instead, they must look within to foster environments in which new enterprises can be launched and existing small businesses can grow. Communities with strategies that include a focus on entrepreneurship are a proactive step in creating sustainable and competitive local economic development systems.
In 2007, Extension staff, both specialists and Educators, has worked with 56 communities to help them create more sustainable and competitive local economic development systems. Several programs have been conducted in this area that have focused on entrepreneurship in general and in specific areas like food entrepreneurship. There are several examples of Extension’s work in this area. The following is an example of one such activity that took place during the reporting year.
Purdue Extension in Hendricks County joined with other community partners to plan and conduct an Entrepreneurship & Small Business Expo. The target market for this event was small business owners and prospective entrepreneurs in Hendricks and neighboring counties. This program seemed to be of greatest interest to people who are seriously thinking of starting a business, those who had started their business within the past year, and owners of established businesses who have plans for growth. The Expo included special speakers and opportunities for attendees to learn about firms and organizations that serve small businesses, including lenders, professional services, educational institutions, business development organizations, and others.
The event was attended by 168 individuals representing 102 different businesses. 30 business-support organizations were also represented. The overwhelming majority indicated that the event was helpful and attending entrepreneurs were surveyed and 98% indicated that they had learned one new thing that would be helpful in growing their business.
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