Fostering Entrepreneurship

Tom Barkin

Speech from Federal Reserve Bank of Richmond

Abstract: The Richmond Fed is committed to understanding the challenges faced by smaller communities and to searching for ways to make a difference. There are four themes that matter for moving the needle in smaller communities: preparing people to enter the workforce; addressing the effects of geographic isolation; removing barriers to participation; and connecting people to jobs. Fostering entrepreneurship is an opportunity to boost employment and economic growth and to increase economic resilience. To thrive, entrepreneurs need a strong infrastructure platform, better access to capital, a skilled workforce and a startup-friendly culture. These are not simple to create, but it can be done, as seen in places like Taylor County, West Virginia. Communities have within themselves the ability to grow. All they need is a little support.

Keywords: small town and rural communities; employment and labor markets; small business (search for similar items in EconPapers)
Date: 2019-08-28
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Persistent link: https://EconPapers.repec.org/RePEc:fip:r00034:101351

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