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Entrepreneurship Metrics - Don Macke

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This presentation was part of the Growing Entrepreneurial Communities Summit, a practitioner-focused summit designed to help economic development and small business practitioners effectively create economic growth through entrepreneurship in local communities. The 2018 Summit, subtitled Entrepreneurship on the Edges, focused on providing information and practitioner insight in how to effectively develop disadvantaged urban and rural communities using entrepreneurship-led development strategies.

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Entrepreneurship Metrics - Don Macke

  1. 1. Don Macke April 26, 2018 CU RCAP & Support Staff Cutting Edge Research
  2. 2. Moving Forward…
  3. 3. 2006-2016 Point to Point Change Analysis
  4. 4. United States Net Job Growth +48 Million Jobs 31% Job Growth Stage 1 Stage 2 2-9 Employees 10-99 Employees 26 million 20 million 53% 42% Combined Smaller Ventures 46 million 95% Stage 3 Stage 4 100-499 Employees 500+ Employees 2.6 million (1.0) million 5% --- “66% of Jobs by Locally Owned Ventures”
  5. 5. Nebraska Net Job Growth +351,869Jobs 32% Job Growth Stage 1 Stage 2 2-9 Employees 10-99 Employees 162,981 153,407 46% 44% Combined Smaller Ventures 316,388 90% Stage 3 Stage 4 Self Employed 100-499 Employees 500+ Employees ------------- 26,113 2,549 6,819 7.4% 0.7% 1.9% Combined 35,481 10%
  6. 6. November 2017 Thought Leaders Gathering • Focus on the Movement • Small Group of Thoughtful Leaders • Three Topics… – Communities on the Edge – Professional Development – Research
  7. 7. CU RCAP & Support Staff Research Roles
  8. 8. Inform Communities • Historical Performance • Development Opportunities • Entrepreneurial Ecosystem • Entrepreneurial Talent Research should empower communities to better understand their development opportunities and how growing an entrepreneurial economy and society can advance prosperity.
  9. 9. Percent Age Cohort Change 0.0% -1.3% -63.7% -51.4% 35.0% -6.8% -3.6% -4.0% -8.4% -5.3% -80.0% -60.0% -40.0% -20.0% 0.0% 20.0% 40.0% 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 2000-2010
  10. 10. Nonfarm Proprietors’ Income & Employment 0 200 400 600 800 1,000 1,200 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 Nonfarm proprietors' income (thousands of dollars) Nonfarm proprietors employment (number of jobs)
  11. 11. Track Activity & Outcome • Documentation • Evaluation • Stories We need accepted frameworks and protocols for documenting and evaluating how E-strategies and investments are working. But numbers are not enough, we also need more aggressive capture of stories.
  12. 12. Holt County – One Story
  13. 13. Kansas – Going to Scale
  14. 14. Measuring Impact • EcoDevo Smoke & Mirrors • Robust & Honest Impact • ROI • Redirection of Capital In America, we continue to spend most of our development dollars on attraction, competition, and corporate subsidies. We need strong impact measurement to enable resource redirection.
  15. 15. Stakeholder – the E-Movement In order to make entrepreneurship the foundation of all development as Brian Dabson envisioned... We need to cultivate local, state, and national stakeholders empowering them to make the hard decisions to funding entrepreneurship. Research is a foundational asset in building a national entrepreneurship movement in America.
  16. 16. November 2017 Framework Gather Data Establish Key Research Questions Set Metrics Development Systems for Capturing Data Case Studies Communication Strategies Get the Thought Leader Summit Notes… November 2017 Entrepreneurship on the Edges
  17. 17. A National E-Research Agenda 1. Network 2. Collaboration 3. Platform for Sharing 4. Learning Opportunities 5. Shared Evolving Practices 6. Empower Existing Researchers 7. Attract/Develop New Researchers 8. Funding 9. An Agenda 10. A Serious Commitment
  18. 18. Don Macke don@e2mail.org www.energizingentrepreneurs.org
  19. 19. Our Panelists Mark Muro – Senior Fellow The Brookings Institution Dane Stangler – Chief Policy Officer Startup Genome Kelly Edmiston – Senior Economist Federal Reserve Bank of Kansas City

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