Entrepreneurship is a key driver of economic growth and prosperity, yet women and minorities, especially in rural areas, often face barriers to starting their own businesses. With support from the United States Department of Agriculture, researchers at West Virginia University are delving into the reasons behind this disparity and seeking solutions to promote entrepreneurship among underrepresented groups.
Led by Heather Stephens, a professor of resource economics and management and director of the Regional Research Institute at WVU, the research project aims to identify factors that could support entrepreneurship for women and minorities, as well as barriers that deter them from pursuing self-employment opportunities. Collaborating with Daniel Eades, a WVU Extension specialist in rural economics, the team is collecting and analyzing county-level data to gain insights into the challenges faced by these groups in starting and growing their businesses.
The findings of the research will be translated into fact sheets and training materials that can be distributed to local policymakers and practitioners working within rural entrepreneurial development ecosystems. This includes educators in Extension, business incubators, regional economic development agencies, financial service providers, and chambers of commerce. By engaging with these stakeholders as experts in their own right, the research team aims to develop practical tools and resources that can drive positive change in local economic development policy.
One of the key insights from the research is the importance of understanding the unique motivations and challenges faced by women and minority entrepreneurs. For women, self-employment may offer a way to balance work and family responsibilities, while for minority groups, entrepreneurship can provide a pathway to economic empowerment and community development. By redefining success metrics and considering factors such as flexibility and childcare availability, the research team hopes to provide a more nuanced understanding of what drives entrepreneurial activity among underrepresented groups.
In rural communities that have historically relied on large employers like mines, there may be a lack of an ‘entrepreneurial mindset’ that hinders the growth of small businesses. By highlighting the potential economic benefits of self-employment and local business development, the research team aims to shift the narrative from a zero-sum game to a collaborative approach that leverages the skills and assets already present in the community.
Collaborating with colleagues from Penn State University and the University of Maine, WVU is at the forefront of efforts to promote entrepreneurship among women and minorities in rural areas. By addressing the systemic barriers and challenges faced by underrepresented groups, the research team hopes to pave the way for a more inclusive and vibrant entrepreneurial ecosystem that benefits all members of the community.
In conclusion, the research conducted by WVU researchers with support from the USDA sheds light on the factors influencing entrepreneurship among women and minorities in rural areas. By identifying barriers and opportunities for growth, the team is working towards creating a more equitable and thriving entrepreneurial landscape that empowers underrepresented groups to pursue their business dreams.
