Page 172 - 1-Entrepreneurship and Local Economic Development by Norman Walzer (z-lib.org)

The Difference Makers: Entrepreneurial Young People 161

other’s energy and create even better ideas and inventions. This space may
simply be a parent’s garage or basement family room during an evening
with pizza and soda.

Pathways from Education to Opportunity
Communities can help young entrepreneurs transition from the learning
process to tangible business opportunities by helping them clarify goals
and develop a plan, connect with opportunities that are a good fit, and sup-
port them as their enterprises develop.
This work may involve compiling an inventory of soon-to-retire business
owners looking to sell their businesses during the next several years, or it
may include using an existing revolving loan fund to help a capable young
person without adequate cash or equity get into business. Each young en-
trepreneur is unique. Determining the help they need to move ahead and
filling those gaps is key.

CONCLUSION

Much ground has been covered in this chapter exploring the subject of
young entrepreneurs in the context of community economic development.
In closing, it may help to emphasize several key points.
First, youth entrepreneurship needs to be a priority within a community
economic development strategy for it to succeed. This is a long-term en-
gagement process. Some of the youth will not graduate for another 4 to 13
years. Further, if they plan to attend college and gain career experience, they
may not return for an additional 4 to 10 years or more. Entrepreneurship
development requires a sustained effort in a fast-paced world that expects
immediate results.
Equally important is the short-term impact youth can make in a com-
munity when there is room for them at the table. One high school student
we worked with put it this way, “We don’t mind painting the picnic shelter;
we just want to help pick the color!” What she was expressing simply is
youth want a role in determining the future of their community. Young peo-
ple can have great ideas, and they know what a community needs to attract
more young people to return. If youth attraction is a goal, then listening to
youth and supporting their ideas with action are key.
In moving forward, keep in mind the process discussed for engaging
young entrepreneurs, equipping them to succeed, and supporting them in
their entrepreneurial ventures. There are a variety of ways to approach each
of these key elements, but they all are needed to be the most successful.