Your Entrepreneurial Ecosystem
Your Entrepreneurial Ecosystem

What Is Business Retention and Expansion and Is it Right for Your Community

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Interested in learning some about Business Retention and Expansion (BR&E)? Texas A&M AgriLife Extension Service has a new publication out on BR&E. The publication discusses what BR&E is generally and then focuses on two types of BR&E: the classic business visitation program, and the industrial cluster retention and expansion program. It also discusses why it would probably be good for your community! Check it out at the link below:

http://agrilifelearn.tamu.edu/Business-Retention-and-Expansion-p/eag-046.htm

Coverage on my team’s effort to use big data to aid rural economic development

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My co-PI, Dr. Linda Neihm, and our project to use big data in support of rural economic development received some more coverage. As I note in the article, big data are continuing to grow, but research and extension struggle with best practices for utilization of that data, especially in the development of practical uses. We know that there are numerous factors that influence the survival and growth of rural businesses, but current efforts have not yet utilized big data to dig into the relative importance of those various factors. Our work will do just that.

Read more at: https://www.hs.iastate.edu/news/2017/09/12/linda-niehm-big-data/

Moving Forward from Data to Goals

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Using data to guide local economic development efforts is essential to remaining competitive in a quickly evolving economy. Examining data can help leaders identify changes, new opportunities, and emerging issues and make decisions that reflect the entire community rather than merely the perception of a vocal or influential group. As we continue to get more and more sources and detailed data, often questions may turn to how to convert data into actionable goals. Check out this new article by Drs. Craig Carpenter and Rebekka Dudensing to learn about various conversion strategies and the importance of how the goals are written themselves.

http://agrilifelearn.tamu.edu/Translating-Data-Survey-Results-into-SMART-Goals-p/eag-047.htm

Getting the Community Involved in Local Development Efforts

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Getting the community involved in local and regional development efforts is fundamental to the successful creation and implementation of development plans. Community involvement not only improves community and economic development outcomes by utilizing local knowledge and networks, but can also grow community cohesion and vitality, as members feel more invested in the place that they live. Residents are more likely to embrace development proposals when invited to contribute their opinions and shape efforts to reflect their challenges and needs. Furthermore, shaping the efforts to reflect the challenges and needs of community members can only improve those efforts. Similarly, community members are more likely to be invested, and, in turn, more willing to invest the time to implement the proposals.

 

Read more in a new publication out by Dr. Rebekka Dudensing and me: http://agrilifelearn.tamu.edu/Getting-Community-Involved-in-Local-Development-p/eag-045.htm