Building the community business sector of tomorrow

Future owner

North Charleston Photo (CC) on Flickr

Do you want a strong local economy?

So do not be surprised you need a continuous stream of new businesses.

This message is the one we hear often and loudly in rural and urban areas. New businesses contribute to economic growth. They also employ employees, spend money, borrow money and are often active in local community organizations and groups.

With this in mind, communities have received training, loan programs, mentors and support systems, as well as support for marketing. They are also looking for ways to reduce the cost of entry and offer new ways to connect to the market.

These are all excellent programs. And while not all are successful, active communities continue to try new things and tweak programs that work.

This blog is a call to communities that they should not neglect, which is perhaps one of the most important efforts of their game plan for the creation of the business sector. Such programs are often focused on growth now and in the near future. What is going on for the long term? Is the pump started with a new generation of contractors?

Youth entrepreneurship Efforts are a crucial part of a sustainable, economically strong community. These efforts mean that there will be interested people who will want to take over existing businesses when the owners retire or want to try a new idea.

Today, it is said that four generations will be necessary for future generations. These include: teamwork, creativity / imagination, critical thinking and problem solving. These same four skills also form the core of a successful small business owner. Thus, entrepreneurship training and practice not only prepares a person to become his or her own boss, but if she or he has to go another way, she prepares her for the job market.

This blog post is only one example of how youth entrepreneurship education can work.

The great thing about an effort of youth entrepreneurship is that the skills taught are not focused on a specific discipline. Although the blog post follows a youngster who stays in an agricultural career, it would also be possible to move elsewhere if opportunities arise.

And not only are youth entrepreneurship efforts paying off, but today these young men and women are getting more involved, trying new ideas on a small scale and often participating in other community activities.

So, do you want your community to succeed today and tomorrow? Make sure there are programs and opportunities for young people to gain entrepreneurial skills.

Deb Brown and I share other ideas like this in our latest video at SaveYour.Town, Develop Your Own Entrepreneurs. The video is available on request from Friday, November 9, 2018 and is only available for two weeks. Your questions, stories and examples from your own city are also welcome.

About Glenn Muske

Glenn Muske is an independent expert in rural small business, working for GM Consulting – Your Partner for Small Business Success. He provides advice and writes articles for county extension officers and newspapers in North Dakota. Previously, he was a specialist in rural and agri-food business development at the Extension Service of the North Dakota State University – Center for Community Vitality.

  • Does your network have punch? – 7 November 2018
  • Building the community business sector of tomorrow – October 24, 2018
  • Are you changing? – 17 October 2018
  • Is this really a deal? – October 10, 2018
  • Prepare your finances to start a business – 3 October 2018
  • Business Creation: Separate Fiction and Reality – September 19, 2018
  • Build trust to build your business – September 12, 2018
  • I can not manage success – September 5, 2018
  • Your small business needs an online presence – August 29, 2018
  • What is your purpose – August 22, 2018

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