Clients | GOVERNMENT

As communities experience increasingly critical needs such as declining economies and related civic and social challenges, we must respond and provide a solution. It is the entrepreneurs who can transform resources and generate wealth in a community. 

Entrepreneurship and the power of growing jobs, by ones and twos, are central to growing communities in the current economy. The SEF method shows local leaders how to harness the power of local entrepreneurs to bring sustainable change through Entrepreneurial Development. SEF has had remarkable success in communities across the country and around the world, in places large and small, rural and urban.

An empowered and engaged Community is important to creating a sustainable economy. Exploring collaborative opportunities in the economic development sector is an important part of this work, and worth the investment.  Activities such local businesses programs and building infrastructure can add value to a community but Entrepreneurial Development approach actually goes one step further. 

SEF have been involved in training over 300 communities in 4 continents creating employment and long term sustainability with reported success rates of business retention rates of over 80%.

Why it benefits communities

Attention is focused on small businesses, with research indicating they are responsible for between 65 and 90 percent of all job creation by entrepreneurs. (U.S. Small Business Administration, 2010) Economic development strategies that create and retain jobs are, obviously, in the highest demand.

• Sustainable businesses: Statistics indicate that 40% of businesses fail in the first 2 years and of the remaining, 80% will fail within the next 5 years; businesses assisted by Entrepreneurial Development have a better than 80% success rate, turning North American business success rates upside down. 

• Low cost per job: A low cost per job and a positive return on investment demonstrate that working with the entrepreneurial energy of local residents is a smart strategy for civic leadership.  In considering this return, it is important to keep several factors in mind. First, there are several economic benefits of the businesses — such as taxes paid, reduction in welfare benefits paid to business owners or workers, and increased circulation of money in local communities. 

Outcomes

Some 300 communities have been introduced to this methodology.  Based on experience, the Facilitator should assist up to approximately 200 entrepreneurs per community per year creating an average of 10 to 15 new businesses resulting in 40 to 60 new jobs.  The skills acquired by the Facilitator and volunteers last in-perpetuity.  The survival rate among newly created businesses supported by the program should show sustainability rates above 80% after 5 years. 

Summary

This approach adds value to existing economic development strategies, tools and incentives.  Judging from past success, incorporating this project will result in substantial job creation, entrepreneurial and personal development, an increased wage base, and a revitalization of the spirit of enterprise in your area.