1 / 17

Nebraska Entrepreneurs: Seizing New Opportunities

Nebraska Entrepreneurs: Seizing New Opportunities. Teacher Workshop Sponsored by the Federal Reserve Bank of Kansas City – Omaha Branch. Agenda. Explore new findings on entrepreneurship in Nebraska Demonstrate new entrepreneurship lessons

kamaria-gyasi
Download Presentation

Nebraska Entrepreneurs: Seizing New Opportunities

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Nebraska Entrepreneurs: Seizing New Opportunities Teacher Workshop Sponsored by the Federal Reserve Bank of Kansas City – Omaha Branch

  2. Agenda • Explore new findings on entrepreneurship in Nebraska • Demonstrate new entrepreneurship lessons • Discuss variety of entrepreneurship classroom resources available in Nebraska and nationally • Review Fed educational resources • Attend the Economic Forum

  3. Do Nebraskans Want to Start Their Own Business? • 40% of the general public said they wanted to start a business of their own • 9% already have their own business • 69% of those ages 18-29 want to start their own business • 55% of business owners polled first thought of starting a business between the ages of 18-29 • Lesson learned: strike early! Source: 2005 Gallup Poll of Nebraska business owners and the general public

  4. Does the Interest in Entrepreneurship Get Acted Upon? • Only 25% of the public rate themselves as “very likely” to act on the idea of starting a business • 29% of those ages 18-29 rate themselves that way • More are unsure – 31% rate themselves a “3” on a 5-point scale Source: 2005 Gallup Poll of Nebraska business owners and the general public

  5. What are Some of the Greatest Obstacles for Entrepreneurs? • Other than financing, 58% of Nebraska business owners said management and education factors were the biggest obstacles • Developing clientele • Handling government regulation • Managing and motivating people • Good ideas • Lack of education, skills, experience • Lack of personal knowledge about technology Source: 2005 Gallup Poll of Nebraska business owners and the general public

  6. What Prepares Entrepreneurs the Most? • Life experiences – 27% • Education and Skills – 23% • Education in school • Talking with other entrepreneurs • Ability to spot an opportunity • Family – 21% • Working at another business – 16% Source: 2005 Gallup Poll of Nebraska business owners and the general public

  7. What Happens When Business Owners Want to Exit? • 28% of business owners plan to exit their business in 0-5 years; 21% plan to exit in 6-10 years • Plan to transfer businesses to: • Family – 36% • Employee(s) – 11% • Third party – 18% • Liquidate – 27% Source: 2005 Gallup Poll of Nebraska business owners and the general public

  8. Entrepreneurship Education is Important • Percentage polled who said it’s important/very important for schools to teach entrepreneurship: • General public – 81% • 51% very important; 30% important • Business owners – 86% • 49% very important; 37% important • 73% of business owners agree/strongly agree that if schools focused more on entrepreneurship education, more people would start their own businesses Source: 2005 Gallup Poll of Nebraska business owners and the general public

  9. Entrepreneurs Impact our Local Communities What do business owners contribute to their communities? Source: 2005 Gallup Poll of Nebraska business owners and the general public

  10. Entrepreneurial Depth and Breadth • Entrepreneurial breadth • Measurement of the number or concentration of all types of entrepreneurs in a region • Often “lifestyle” entrepreneurs • High in rural regions • Entrepreneurial depth • Measurement of the economic value created by entrepreneurs in a region • “High growth” entrepreneurs • Lower in rural regions

  11. Regional Factors that Drive Entrepreneurial Depth and Breadth • Human capital • Amenities • Financial capital • Infrastructure • Local economy

  12. Entrepreneurship Lesson Demonstration • Goal of the lessons: • Explore concepts of entrepreneurship • Look at entrepreneurship in your county • Evaluate your regional assets to foster entrepreneurship

  13. Entrepreneurship Lesson Demonstration • Entrepreneurial breadth and depth calculations • What does entrepreneurship look like in your county? • Why do these matter? Which is better? • Lifestyle versus high-growth entrepreneurs

  14. Entrepreneurship Lesson Demonstration • Does our local economy spur entrepreneurship? • Pros and cons activity • How would you market your community as “entrepreneur friendly”?

  15. Entrepreneurial Education Resources • Resources handout • Nebraska Entrepreneurs – Nebraska Council on Economic Education • http://ecedweb.unomaha.edu/entrepreneur/ home.htm • EntrepreneurShip Investigation – Nebraska 4-H • Available spring 2007 • Nebraska Department of Education – Entrepreneurship Education • http://www.nde.state.ne.us/entreped/

  16. Federal Reserve Educational Resources • www.federalreserveeducation.org • Public information catalog available on the site – order publications for free • DVD-based resources • Lessons and newsletters • Publications in your packet • Fed Challenge • Economics Challenge (sponsor with NCEE) • Essay Contest

  17. Federal Reserve Education Contacts in Nebraska • Jennifer Clark, Public Affairs Coordinator • 402-221-5560 or 800-333-1040, ext. 5560 • jennifer.clark@kc.frb.org • Erin Redemske, Public Affairs Specialist • 402-221-5608 or 800-333-1040, ext. 5608 • erin.redemske@kc.frb.org

More Related