The past year year has been devastating for businesses, especially small business in rural America. The pandemic has forced many established businesses to change how they operate, their DNA, in order to stay open. Remote work is the new normal, cafes’ and diners have closed their in-door seating and shifted to carry-out or drive-thru only. The large office buildings that were once the symbol of the American economy are mostly vacant. The changes are becoming permanent in many cases.
People are relocating from the city back to their roots, the small towns. As they relocate back to small towns, they bring with them their dreams of starting a business. The main streets of small towns offer something that large cities do not, a friendly environment in which to conduct business, friends and neighbors as customers. Small towns or rural America as it is commonly called, offers the chance to fill ones dreams, build a business, raise a family, and in the process help others in the process. Rural entrepreneurship is becoming the centerpiece of America’s resurgence.
Starting a business in rural America has been discouraged in past literature for a variety of reasons that have become myths in the 21st century. In time past, commodities such as high-speed internet, logistics and access to interstate highways, infrastructure of the small town, talent, and the political makeup of the small town were seen as stumbling blocks to starting a small business. Additionally, the myth that one has to be in a larger town or city in order to access capital has been dispelled with tools such as Zoom, the many federal, state, and local financial groups, The reasoning to not start a rural business has been displaced and are myths.
The many different segments of the economy offers entrepreneurs and wide range of opportunities to start a business that is low-impact to the community. Entrepreneurship is often thought as large enterprises that are taxing on local facilities, not so in many cases. Small software development firms are a great example of a company that works well in a rural community. With remote work becoming the norm, the small business impact the local infrastructure in minor ways.
Recently, there have been several television shows that emphasis the benefits of small-town America. ie. Small Business Revolution with Robert Herjavec of Shark Tank fame, that emphasis the importance of small business and the town where they reside. The many small business featured clearly depict the impact they have on the community.
Many people ask if rural entrepreneurship is the same as urban entrepreneurship? In many ways yes, but in some ways no. Over the next weeks and months, the differences between urban and rural entrepreneurship will be examined.
Dr. Lawson is an executive coach and a Professor of Economics and Strategy. He writes on business issues, education, and developing today’s modern executives. He can be found on Twitter @dplwsn and #TMIBS.
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