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Fostering Entrepreneurship

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  • Tom Barkin

Abstract

The Richmond Fed is committed to understanding the challenges faced by smaller communities and to searching for ways to make a difference. There are four themes that matter for moving the needle in smaller communities: preparing people to enter the workforce; addressing the effects of geographic isolation; removing barriers to participation; and connecting people to jobs. Fostering entrepreneurship is an opportunity to boost employment and economic growth and to increase economic resilience. To thrive, entrepreneurs need a strong infrastructure platform, better access to capital, a skilled workforce and a startup-friendly culture. These are not simple to create, but it can be done, as seen in places like Taylor County, West Virginia. Communities have within themselves the ability to grow. All they need is a little support.

Suggested Citation

  • Tom Barkin, 2019. "Fostering Entrepreneurship," Speech 101351, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:r00034:101351
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    File URL: https://www.richmondfed.org/press_room/speeches/thomas_i_barkin/2019/barkin_speech_20190828
    File Function: Speech
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