Report Identifies Factors that Encourage Small Business Growth in Rural Areas

The U.S. Small Business Administration has released a new study that examines the factors that lead to small business growth in rural areas.

Among the key findings are:

1) the number of high school graduates increases the number of rural small businesses;

2) the presence of natural amenities also exerts a positive influence on business growth;

3) rural areas have difficulty attracting high-tech businesses due to workforce and infrastructure concerns; and

4) rural development centers and non-profit organizations are vital to rural economic development.

The report features detailed case studies from six states, including Kentucky and North Carolina. Download the report, An Empirical Approach to Characterize Rural Small Business Growth and Profitability, at http://www.sba.gov/advo/research/rs271tot.pdf

(Thanks to the Southern Compass for passing this along. Russ)