Business starts in the Midwest: potential entrepreneurial groups

Abstract

Promoting business starts, as well as attracting and retaining employers, is an integral part of development efforts as local governments try to respond to the US economic recovery. Thus, targeting potential entrepreneurs and/or groups associated with business starts is important in designing and marketing development efforts. A growing literature has identified groups of likely entrepreneurs with motivations or interests in launching businesses. Successful business launches require financial resources, flexible schedules, and knowledge or experience in managing such an activity. This article briefly reviews the literature on entrepreneurship and then examines correlations between business starts and percent unemployed, pre-retirement groups, farmers with small operations, Hispanics, and females between 25 and 34 years of age using a sample of 850 counties in nine Midwestern states in the USA to determine the importance of these groups in business starts. Several successful programs targeted to these population groups are then described to help development practitioners focus entrepreneurship training, technical assistance, and consultation activities on these groups to promote start-ups.

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