Small Business News

Small businesses are the backbone of rural communities

Small scale entrepreneurship is a proven strategy to revitalize rural communities. Owning one’s own business can create genuine opportunity across rural America with the support of a modest public investment.

The importance of entrepreneurship is particularly profound in the most rural areas. Our analysis of economic conditions in the farm and ranch counties of Iowa, Kansas, Minnesota, Nebraska and the Dakotas found that nearly 60 percent of job growth in the 1990s came from people creating their own job by starting a small non farm business.

Tax credits should help the distressed

The most effective and desirable economic development strategy for many rural communities is small entrepreneurship. Small businesses are especially important today, as opportunities to attract large employers to remote rural areas diminish.

For the past decade, the Nebraska Advantage Microenterprise Tax Credit has played an essential role in helping these businesses get started. Passed in 2005, the act provides tax credits to applicants for creating or expanding microbusinesses that contribute to the revitalization of economically distressed areas.

Tips: social media for small businesses

Remember that social media is a dialogue and conversation. Small businesses can leverage platforms to expand visibility, increase sales, or inform their audience.

Managing social media – from content to execution – takes effort and time. If you do not have the resources to manage multiple accounts, think wisely in which ones you will invest in.

Small business needs identified in report

The opinions of 587 business owners, resource providers and lenders will help shape the future of our Rural Enterprise Assistance Project.

Responses are compiled in “Their needs and thoughts: Results of the fifth biennial Small Business Needs Assessment,” by Dena Beck, Rural Enterprise Assistance Project senior project leader.

The results will also be used by policymakers, lenders and other business resource providers for focusing, planning and developing strategic partnerships.

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