Investing in Rural and Small Communities: Making Entrepreneurship Work for Everyone

by Zachary Barker, CEcD, MS | Startup Support Center, Executive Director

In an era where big cities often grab the spotlight for economic growth, rural and smaller communities are sitting on a goldmine of untapped potential. It’s high time we shifted our focus and started seeing these communities not as economic backwaters, but as fertile ground for sustainable development through entrepreneurship. This isn't just about boosting local economies; it's about leveling the playing field and giving everyone a fair shot at success. Let’s dive into how we can make this happen by breaking down barriers, offering hands-on support, and tailoring programs to meet everyone's needs.

Making Entrepreneurship Accessible to All

First off, let’s talk about making entrepreneurship accessible to every person, regardless of income, geography, education, political connectivity, mobility, and more. To allow everyone a meaningful opportunity at personal success means knocking down the digital divide, setting up shop in local hubs, and ensuring that anyone with a business dream doesn’t have to go far to find help. By bringing resources to the people, we're not just opening doors for aspiring entrepreneurs; we're inviting a diverse mix of ideas and innovations that can enrich our communities.

Call to Action: Start by mapping out and connecting with local resources. If you’re an aspiring entrepreneur, reach out to your local business development centers, libraries, and online platforms. Community leaders, invest in digital tools and local hubs that bring resources closer to home. Everyone has a role in making entrepreneurship accessible.        

Real Talk and Guidance from Those Who’ve Been There

Everything starts with relationships... and for those from emerging communities, this is usually where the first roadblock is encountered.

Embarking on a business venture can feel like trekking through a jungle without a map. That’s where mentorship and coaching come into play. Imagine if everyone in our community was able to access a seasoned entrepreneur or a savvy business mentor in their corner, offering nuggets of wisdom, encouragement, and perhaps a gentle nudge in the right direction when you hit a roadblock. It’s this blend of personalized advice and moral support that can turn the daunting into the doable.

Call to Action: Experienced entrepreneurs and business professionals, it’s time to step up and share your journey. Volunteer for mentorship programs or offer to run workshops. If you’re starting your business journey, don’t hesitate to seek out a mentor who can guide you through the ups and downs.        

Crafting Solid Plans: The Backbone of Any Business

Every great expedition needs a map, and in the world of entrepreneurship, that map is a solid business and financial plan. It’s not just about having a brilliant idea; it’s about plotting out the journey to turn that idea into a thriving business. Workshops and training sessions that demystify market research, budgeting, and marketing strategies are crucial. They give budding entrepreneurs the tools to forecast, strategize, and navigate the ups and downs of business ownership.

Call to Action: Get entrepreneurs engaging regularly in workshops and training sessions that focus on creating robust business and financial plans. Organizations and local governments, provide these essential training programs to ensure every entrepreneur can navigate their path with confidence.        

Wholly Supporting the Individual

Let’s not forget that starting a business can be a rollercoaster of emotions. Providing mental health support is paramount, acknowledging that it’s okay to feel overwhelmed and offering resources to help manage the stress and anxiety that can come with the territory. Whether it’s through group sessions or one-on-one counseling, nurturing mental well-being is just as important as nurturing business growth.

Call to Action: Find ways to support those feeling the weight of entrepreneurship. Provide accesses to reach out for support via peer groups, counseling group sessions, or direct referrals to acute care providers. There are countless mental health resources tailored to the unique challenges entrepreneurs face. Community leaders, create spaces for these conversations and integrate mental health support into your entrepreneurship programs.        

Tailored Training: Because One Size Doesn’t Fit All

Every community is unique, and within those communities, there’s incredible diversity. Customizable training programs that cater to specific groups – be it minority business owners, artists, veterans, or anyone else – can make a world of difference. It’s about recognizing the unique challenges and strengths of different groups and providing the right kind of support to help them flourish.

Call to Action: Identify what makes your journey unique and seek out programs that cater to your specific needs. Program developers, continuously seek feedback and adapt your offerings to meet the evolving needs of your community's entrepreneurs, ensuring inclusivity and effectiveness. Rememer that sometimes you're teaching the correct things, but may not be the ideal teacher to reach a community.        

Wrapping It Up

It's clear that investing in the entrepreneurial spirit of rural and smaller communities is more than just a pathway to economic growth—it's a step towards creating a more inclusive, equitable future. By making entrepreneurship accessible, offering guided mentorship, ensuring solid business planning, supporting mental well-being, and tailoring training to meet diverse needs. As we work to support these initiatives, we’re not just chasing economic success; we’re crafting a future where everyone has the opportunity to thrive.

Overall Call to Action: Whether you’re an aspiring entrepreneur, a seasoned business owner, or a community leader, it’s time to get involved. Engage with local programs, offer your expertise, advocate for more resources, and most importantly, believe in the potential of every community to foster a vibrant ecosystem of innovation and growth. Let’s join hands to make entrepreneurship work for everyone.        

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About the Author

Zachary Barker, is a certified economic developer (CEcD) who brings a together the confluence of entrepreneurial ecosystem building and economic development. With over 18 years of training experience in entreprenruship and small business growth, Zachary has developed models that provide expert technical training, community engagement, and mental health support to best empower and enable the local entrepreneur.

With a Master of Science in Economic Development from Murray State University, Barker extends his expertise as a national instructor of entrepreneurship at the Oklahoma University Economic Development Institute (OUEDI). Most recently, Zachary was successful in securing a grant for Hispanic business acceleration in Southern Colorado supporting his deep rooted commitment to diverse economic empowerment, in collaboration with the United States Hispanic Chamber of Commerce, USAA, Colorado Springs Hispanic Chamber of Commerce, and the Pikes Peak Small Business Development Center.

His outreach efforts are always towards empowering economic developers to better serve their entire entrepreneurial populations. National speaking opportunties with International Business Innovation Association (InBIA) and his role with the International Economic Development Council (IEDC) as a certification grader and interviewer allow for a broader reach and engagement with leaders supporting inclusive entrepreneurship and a dedication to upholding high standards within the economic development profession.

Zachary Barker continues to pursue ways to aid economic developers as they nuture entrepreneurship as a strategy in efforts to bolstering community resilience and individual empowerment.

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