Page 80 - 1-Entrepreneurship and Local Economic Development by Norman Walzer (z-lib.org)

Entrepreneurship and Small Business Growth 69

culture-based, (2) young male with bachelor degrees, and (3) immigrants—
are included to reflect potential entrepreneurs.

Employed in Agriculture
Businesses often start on a part-time basis and a flexible schedule can
provide the time to manage and/or operate a new venture. In some cases,
lifestyle entrepreneurs may include farm owners-operators or their families
who start a business to maintain a lifestyle or perhaps even to survive eco-
nomically. Two or more farm families may join in an operation; previous
research identified partnerships as influencing success (Blade Consulting
Corporation 2003). Agricultural employment in the Midwest is seasonal
which can permit farm operators and employees to pursue off-farm em-
ployment or other business activities.
Likewise, farm owners and operators may have access to resources such as
land and capital important in business formation. Farm owners-operators
are already in business, so they may have skills and experiences needed
to manage an operation. Some of their skills and knowledge are not di-
rectly transferable to new ventures; however, they are still familiar with
basic management practices. In any event, the percentage of county resi-
dents employed in agriculture is included as a proxy for potential entre-
preneurship.

Percent Hispanic
Hispanics are one of the most rapidly growing segments of the popula-
tion in the Midwest, even though the population base is still relatively
small. In some counties, the main population growth during the past
decade has involved Hispanics and, without this growth, these counties
would have declined in population (Lasley and Hanson 2003).
Immigrants offer several advantages for starting and expanding busi-
nesses. First, they have access to established markets in other locations be-
cause they represent cultures and societies with perspectives and consump-
tion habits different from the locale in which they relocated.
Second, arrival in a new location may create substantial pressure
to generate incomes, which could mean starting a small business. Thus,
percentage of Hispanic residents in a county is included to indicate poten-
tial entrepreneurship.

Percent Males, Ages 25–34, with Bachelor’s Degrees
Previous studies have debated the importance of young, educated males
in entrepreneurial efforts (Autio 2005). This group is launching their careers,
and an economy that focuses on information technology and computers