extension Entrepreneurs & Their Communities

Transcription

1 extension Entrepreneurs & Their Communities

2 Housekeeping Details Sharing your address Webinar evaluation at Please take 5 minutes at the end of this webinar to let us know how we did & what else you d like to learn Site orientation

3 NebraskaEDGE A Piece of the Economic Pie Featuring: Program Highlights and Results Marilyn Schlake Center for Applied Rural Innovation, University of Nebraska-Lincoln

4 Program Introduction 1 Program Overview 2 Evaluation Results 3 Forward Challenges 4 Questions

5 Program Overview EDGE is a community-based entrepreneurial training program. 2,500 individuals trained 42 different regional centers affecting 285 different communities since contractual and volunteer staff. National Governors Association, Best Practice for Rural Economic Development, 2003 & 2004.

6 The EDGE Vision Communities that participate and partner with the NebraskaEDGE Program experience economic growth through added employment, increased revenues and enhanced community participation. Community Objectives: Build resources to successfully organize and conduct a training course. Increase business networking and cooperation. Create a supportive business environment. Experience an expanded economic.

7 Participant Objectives A completed business plan Practical business management skills, and decision-making tools. Potential start, expand or divest of their business. Local business networks & enhanced relationships. Enhanced local economies.

8 Course Locations Keya Paha Boyd Sioux Scotts Bluff Banner Kimball Dawes Box Butte Morrill Cheyenne Sheridan Garden Deuel Cherry Grant Hooker Thomas Blaine Loup Garfield Wheeler Arthur McPherson Logan Keith Perkins Lincoln Brown Rock Holt Custer Dawson Valley Sherman Howard Buffalo Greeley Hall Knox Pierce Wayne Thurston Antelope Madison Stanton Cuming Burt Boone Nance Merrick Hamilton Platte Polk Dixon Cedar Dakota Butler York Seward Colfax Dodge Washington Douglas Saunders Sarpy Cass Chase Dundy Lancaster Otoe Hayes Frontier Gosper Phelps Kearney Adams Clay Fillmore Saline Johnson Nemaha Red Hitchcock Willow Furnas Webster Harlan Franklin Nuckolls Thayer Jefferson Gage Pawnee Richardson

9 Community Coalition Structure Every Community is Unique! State Coalition and Administration

10 Why Coalitions? Builds community capacity through leadership. Builds cooperation and relationships between different groups of people. Builds horizontal community ties within community groups. Builds vertical community ties beyond the community.

11 Coalition Members Bankers Chamber of Commerce Accountants CPA s Small Business Development Center Cooperative Extension Community College/University Economic Development Social Service Agencies RC&D Councils Consultants Private business owners

12 Coalition Roles Leadership of Volunteers and Contractors Organization of coalition functions Communication to citizenry Business Functions for course. Financial contributions Course Assistance

13 Sponsor Benefits Builds capacity and awareness Creates opportunities Company can enter New Markets Media exposure Highly targeted market Participate in the educational process

14 Educational Materials NxLeveL TM Education Foundation Entrepreneur Start-up Business Plan Basics International Trade Tilling the Soil of Opportunity Get the Buzz on Biz

15 Business Owner Benefits Education locally High quality materials and instructors Practical, usable information Safe environment Increased business skills Provides a ROAD MAP

16 Course Details 12 Sessions, 3 ½ hours or 42 hrs of class time 2 Individuals per business Books included in participant fees One-on-One assistance Guest Speakers Business plan critiques Electronic files

17 Evaluation Results Status at Entry N=298 41% Idea 17% Start-up 42% Existing

18 Participant Survey Results Highest Priority for Participating in Course Decide if Ownership Right for Them 5% 11% 8% 43% 33% Receive Assistance to make more formal, stable, or profitable Address Immediate/Threatening Problem Assistance to Sustanitially Grow N=298 Other

19 Participant Survey Results Plans for Operation of Business, Before EDGE & After Have no idea how long Eventually sell Cont. to pass to family Keep as long as profitable Keep as long as it pays expenses Cont. until better Job Start the Business 0% 10% 20% 30% 40% 50% 60% 70% 80% After Before N=298

20 Participant Survey Results Is the business for which you enrolled in EDGE currently in operation? 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Total Existing Startup Idea months years years years 5 years N=298

21 Participant Survey Results How did the following activities change as a result of your participation in EDGE? Increase Interaction with Business Owners Increase Involvement in Comm. Orgs. Increase Involvement in Comm. Dev. Activities Increase Involvement in Bus Orgs Increase Finanicial Contributions N=298 0% 10% 20% 30% 40% 50% 60% 70% Not In Operation In Operation Combined Increase

22 Participant Survey Results How beneficial was the EDGE Program for your business activities? 94% Moderate- Significant How do you rate the quality of the instruction you received while in EDGE? 94% Moderate- Significant N=298 How do you rate the overall quality of the course? 98% Moderate - Significant

23 Business Survey Results In Business? Status Ownership Status Employees? 60% Currently in Operation 15% planning to start 4% started different business 36% parttime 64% full-time 28% Soleproprietor 19% jointly owned 23% LLC 16% Private corporation 53% Employees* 3.5 part-time 4.65 Full-time 1.4 Seasonal N=120 *Employment Increase: 1.0 PT; 1.14 FT;.45 Seasonal

24 Business Survey Results Since participating in EDGE, has this business changed in any of the following ways? Changed Mktg Strategies Increased types Products/Services Sold Increased Types of Products/Services Offered Changed Insurance Coverage Changed Professional Services Changed Legal Structure Existing Start-Up Idea N=120

25 Business Survey Results Changes in types of financing used in business Business Equity Investor Business Loan Govt Grtd Loan Govt Loan Credit Card Personal/Family Assets Personal/Family Savings N= After Before

26 Business Survey Results Did you use the business plan to obtain business equity/credit? Average Amount of equity/credit = $181,227 50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% N=32 Less than 35,000 35,000-65,000 65, ,000 Over 200,000 Idea Start-up Existing

27 Business Survey Results Business s Total Sales for 2007 Average Sales = $449,739 50% 45% 40% 35% 30% 25% 20% 15% 10% Idea Start-up Existing Part-time Full-time 5% 0% Less < $20,000 $20,001- $70,000 $70,001 - $249,999 $250,000 >

28 $316,748 Business Assets in 2007 Was this an increase or decrease in assets from % Same 3% Dec d 56% Increase Prior to participation in EDGE, dollar value of business assets = $189,729 Average for part-time = $18,123 Average for full-time = $267,387

29 Forward Challenges Strategic Planning Sessions Competition Collaborations Survey of Participants Website Solutions

30 Participants are wanting How do you think others would prefer to participate in the course? Internet Class - self-paced Internet Class - cohort Classroom - Modules Distance Interactive Use existing model N= 298 0% 20% 40% 60% 80%

31 Participants are wanting How would you prefer advanced training delivered on specialized topics? Podcasts Webinars Weekend Workshops One-day Workshps N= 298 0% 20% 40% 60% 80%

32 NebraskaEDGE Program University of Nebraska-Lincoln

33 Upcoming Events Wednesday, November 12 --Effective Networking Tips and Techniques for the Business Owner Glenn Muske, Oklahoma Cooperative Extension Wednesday, December 10 Next Level emarketing Tim O'Brien, Information Technology Business Consultant with Nebraska Department of Economic Development.