Erik R. Pages gave a presentation at the VCEN Conference in Roanoke, VA on June 3rd, 2014. He discussed how entrepreneurship is being embraced more at various government levels, but that sustaining programs is difficult given budget cuts. He suggested communities promote entrepreneurship, invest in support services, build the pipeline of future entrepreneurs, and improve access to capital. Finally, he offered specific actions communities can take to support local entrepreneurs, such as becoming an information resource, catalyzing support networks, and engaging local educators.

1. Erik R. Pages
EntreWorks Consulting
VCEN Conference
Roanoke, VA
June 3, 2014

2.  The Good News: Our Message is Being Heard!
◦ What’s Happening in the Field Now
 The Bad News: Sustaining Momentum is
Tough!
 What Can You Do in Your Community?
June 3, 2014

3.  Washington embracing entrepreneurship in
multiple forms:
◦ Regional Development: StartUp America, Regional
Innovation Clusters (EDA), etc.
◦ Social Innovation: White House Social Innovation Fund
◦ Foreign Policy: State Dept. Global Entrepreneurship
Program
 States
◦ NGA Initiatives on:
 Growing State Economies
 Innovation, Entrepreneurship & Manufacturing
 Local Level
◦ Huge boom in economic gardening
◦ Traditional business attraction models losing favor
June 3, 2014

4.  Regulatory Reform
 Promote Entrepreneurship as an
Economic Development Priority
 Invest in High-Quality Support Services
 Build the Pipeline of Future
Entrepreneurs
 Access to Capital
June 3, 2014

5.  Many innovative programs cut or eliminated
from public budgets
◦ GrowFL
◦ Pipeline (Kansas)
 Meanwhile, long-standing support programs
are starved for funds
◦ SBDCs
◦ Microenterprise
◦ Capital access programs
June 3, 2014

6.  New approaches still not well understood
 Definitional Confusion: Entrepreneurship
vs. Small Business
 Goals Confusion: Empowerment vs.
Prosperity
 Clash between political cycles and
business cycles
 Attribution Issues: How do you claim
credit?
June 3, 2014

7.  Stress Inclusion and Opportunity
◦ Exclusive focus on gazelles may backfire
 Entrepreneurship as Transformational Tool
◦ For Individuals and Communities
 Specialized programs for target markets
 Realism about Program Impacts
◦ “Sell” the program as part of larger portfolio
June 3, 2014

8.  Must Serve the “Whole” Market
◦ Avoid targeting if you can
 Community transformation does not
occur through government programs
 But, comprehensive solutions are hard
June 3, 2014

9.  Learn from the experience in other regions
 Build on existing assets
◦ Link to Current Existing Business Retention and
Expansion Programs
 Create a focus on entrepreneurs
 Move forward with a systems approach to
entrepreneurship development
◦ Policy Emphasis Shifting toward Innovation
June 3, 2014

10.  Become an Information Resource
◦ Expert on your Small Business Sector
 Catalyze the Local Support Network
 Provide a Safe Meeting Space
◦ Pay for Coffee and Doughnuts!
 Broker Services
◦ Link Support Providers to Local Businesses
June 3, 2014

11.  Screen Deals
◦ Help review business plans for awards or new
investments
 Engage Educators
◦ Partner with Local Schools
 Introduce New Programs
◦ Targeting Special Markets (e.g Latinos)
◦ Targeting New Issues (e.g. health care)
◦ Sector Strategies (www.qb3.org)
June 3, 2014

12. Erik R. Pages
EntreWorks Consulting
703-237-2506
epages@entreworks.net
www.entreworks.net
BLOG: www.entreworks.net/blog
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June 3, 2014