The document discusses different types of entrepreneurs from micro-enterprises to venture companies and the various needs of entrepreneurs at different stages. It outlines the key elements needed to support entrepreneurs, including business assistance, networks, capital, and community infrastructure. The document advocates for creating an entrepreneurship support system by leveraging federal, state, and local assets that brings together all the necessary resources.

1. Small Business and
Entrepreneurship Development
Maureen Collins-Williams
Director, Entrepreneurship Outreach
University of Northern Iowa
Maureen.Collins-Williams@uni.edu
#McWillie

2. Introduction to Entrepreneurship
1 A Changing Economy
2 Trends in Entrepreneurship
3 Who Are Entrepreneurs?
Microenterprises, Small Business
Innovators and Venture Companies
4 What do Entrepreneurs Need?
5 Putting it Together
Any Sweet
Reason, Clarksville
, Tennessee

3. Changing Economy
1800 85% of American Workforce
in Agriculture
1945 43% of American Workforce
in Manufacturing
2000 The New Economy

4. The New Economy
Knowledge Dependent
Rooted in Technology
Innovation Driven
Global
Harris Vaccines
Ames, Iowa

5. Current Economic Drivers
o Functional Performance Improvements
• Digitalization
• Speed
What’s Next?
o Broad-based
Technology Innovations
• Nano
• Bio
• Green
A Better Sunscreen?

6. 565,000 businesses
per month in 2010
543,000 businesses
per month in 2011
5.9% Drop
*Robert Fairlie, Kauffman Index of Entrepreneurial Activity, 2012
Target Click
Entrepreneurship Trends

7. Recession-reactive Entrepreneurs are
More Likely to Start Sole
Proprietorships than Employer Firms*
Technology has
Encouraged
Home Based Business
*Robert
Fairlie, Kauffman
Index of
Entrepreneurial
Activity, 2012
The Business Concierge Program
University of Northern Iowa
Entrepreneurship Trends

8. Entrepreneurship Benefits
the Regional Economy
Diversified Local Economy
Sticky Business
Local Decisions
Net Sum Jobs
Nimble
Maggie Vandewalle, Artist
Chattanooga, Tennessee

9. Business TA/Training
Networks
Community Infrastructure
(Including Business Space)
Capital
Elements of Support
“An economy’s prosperity is highly dependent on a dynamic
entrepreneurship sector” -GEM Study 2010

10. Business Technical
Assistance and
Training
o 1:1 Consulting
o Classroom Training
o Workshops/ Seminars
o Mentoring
Elements of Support
HeraHub: San Diego
Women Only CoWork

11. Capital
o The Right Kind of
Capital at The Right
Stage of the
Business Life Cycle
o Access to Capital
Resources
Roots Organic Market
Elements of Support

12. Networks
o Like Minded
Individuals Innovate,
Solve Problems,
Create Solutions and
Accelerate Outcomes
o Peer, Professional
and Social
EntreBash
Elements of Support

13. Community Infrastructure
o Entrepreneurship Is
Something To Aspire To
o Failure Is a Learning
Opportunity, Not a Stigma
o Physical and Cultural
Resources Are In Place
Google Get Online Event
Elements of Support

14. Micro-enterprise
Small Business
Innovator
Venture Company
Around The Corner Productions,
Cedar Falls, Iowa
The Entrepreneurship Spectrum

15. Micro-Enterprise
Very Small Business Ventures
o < Five Employees
o Owner Operated
o Less than < $35,000
Clustered in Retail/ Service
Often Home-based
Profits?
Shoe Fetish

16. Microenterprise
Technical Assistance
o Mentoring Over Counseling
o Classes/Workshops
Networking
o Peer, Club, 1:1
Community Infrastructure
o Facilities: CoWorks, PopUps, Public Space
o Respect for Churn
“Scrap”

17. Micro-Enterprise
Capital
o Microlending
• <$35,000
• Soft Credit/Collateral
• Shorter Terms
o Grants
• Community Foundations
o Crowdfunding
• Indiegogo
• Kickstarter
Maggie Vandewalle, Artist
Chattanooga, Tennessee

18. Small Business
Life-Style Companies
o <50 Employees
o Normal Profits
$50k- $500k Financing
Most Industries
The Sweet Granada,
downtown Emporia, KS

19. Small Business
Technical Assistance
o Counseling
o Classes/Workshops
o Business Space
Networking
o Professional /Industry Orgs
Community Infrastructure
o P & Z, Broadband

20. Small Business
Capital
o Commercial Lenders Sweet Spot Client
o SBA Loan Guarantees
o Revolving Loan Funds (Gap Financing)
Angelique Moss-Greer
Nashville,Tennessee

21. Innovator
Opportunist
Extra-Normal Profits
New Economy Driver
Populate Startup Communities
o Easily Bored
o Serial Entrepreneurs
o Male
Downtown T-Rex
Startup Community
St. Louis, MO

22. Innovator
Technical Assistance
o Informal
• Access to Capital and Talent
Networking
o Social
Community Infrastructure
o Culture (More Bohemian, the Better)
Bagolita’s
North Liberty, IA

23. Innovator
Capital
o Local Angels
o Crowdfunding?
o Formal Angels
o Commercial Lenders
(sometimes)
IndieGoGo
BugASalt
http://bit.ly/14Ydalq

24. Venture Company
Technology Transfer/Innovation
o Intellectual Property Assets
o Universities, Fed Labs
Management Teams
o Mostly Men
Emerging Industries
I-Tracker

25. Venture Company
Technical Assistance
o Business Intelligence
Networking
o Management Team/ Talent
Community Infrastructure
o Higher Ed, Labs, Workforce
Innovation Incubator

26. Venture Company
Capital
o Second Round SBIR, STTR
o Formal Angel Investments
o Venture Capital
• Multiple Rounds

27. As an economic developer, you will not be able to
make someone an entrepreneur. Your charge will
be to partner with local & regional service
providers to create an ecosystem where all
aspiring entrepreneurs can thrive.
27

28. Technical Assistance and Training
o Small Business Development Centers
o SCORE
o Community Colleges
o Universities/ Private Colleges
o Extension
o Micro-Enterprise Org
o Economic Development Org
o Main Street Programs
o Entrepreneurial Centers
Federal, State and Local Assets

29. Capital Providers
o Community Foundations
o Peer Lending/ Crowd Funding
o Micro-Loan Funds
o Main Street Communities
o City/ County/State Gov
o Commercial Lenders
o ED Organizations
o Angel Investment Groups
o Venture Capitalists
Federal, State and Local Assets

30. Networkers
o Chambers of Commerce
o Main Street Programs
o Industry Organizations
o Civic Organizations
Federal, State and Local Assets

31. Community Culture
o Local Government
o County Government
o Community Leaders
o Main Street Programs
o Existing Entrepreneurs
o Chambers of Commerce
o School Systems
Federal, State and Local Assets
WinField, Oklahoma
Main Street Program

32. Ultimate Objective:
To Create An
Entrepreneurship
Support System
“A New Economy Demands A New Approach.
We Don’t Need New Programs- We Need a New Mindset”.
-Erik Pages, Entreworks Consulting
Putting It All Together
GoodBlogs, Inc.

33. Entrepreneurship Support
Programs
MyEntre.Net
MyEntre.Net offers online technical assistance, capital, and networking to small
business owners through a changing array of programs including a concierge, cash
contests, a database of resource providers and an online idea exchange.
www.myentre.net
North Carolina’s Rural Entrepreneurship Development System
The project seeks to improve and broaden entrepreneurial support services in the
state's 85 rural counties, ensuring that they reach current and prospective
entrepreneurs in their home communities.
www.ncruralcenter.org/entrepreneurship/development.asp
Oklahoma Entrepreneur Ready Community Certification
Oklahoma provides a certification of ‘Entrepreneur Ready’ to communities who
engage in a series of efforts to support entrepreneurs.
http://www.entrepreneurready.com/