Entrepreneurship is an extremely important, but little understood, component of the U.S. economy. This book aids that understanding by exploring the challenges and outcomes of the start-up phases of new firms. This is the first detailed, large-scale, longitudinally-based analysis of the entrepreneurial process. Three representative samples of new firms and two representative samples of nascent entrepreneurs (those attempting to start new firms) are used to consider a variety of factors that affect successful completion of the major transitions in the life of new businesses: conception, birth, and early development (survival and growth). Surprisingly, a substantial minority of start-ups become operational new firms. Among the many lessons the authors learn are that although new firm growth appears to reflect many factors, initial size is of special consequence. Not only are many general insights for entrepreneurs revealed, but the authors also pay special attention to the involvement of women and minorities in entrepreneurship and suggest effective government policy for different stages in the entrepreneurial process.

The recession and concerns over industrial competitiveness in the 1980s generated public concern with job retention and creation, leading to state and local programs designed to stimulate local economic development. As a new, rapidly growing field, local economic development literature proliferated, but has not provided a comprehensive source for the field. Several questions are of particular concern: What are the major financing mechanisms for economic development? How do they actually work? How does one evaluate their effectiveness? Financing Economic Development is a comprehensive resource which describes the major mechanisms available for financing economic development. The chapters describe financing tools or programs in some detail; provide one or more examples of how they work; classify the tool according to various approaches; and come to an evaluative conclusion about the utility and effectiveness of the mechanism for economic development. A documentation of institutional innovation by state and local government, this volume shows how governments--across the United Statesuare working with private sector financiers, thereby allowing private intermediaries to invest in new enterprises. With contributions by highly qualified practitioners and academics, this volume is appropriate for professionals as well as for upper division undergraduate and graduate students in urban studies, public administration, and policy studies. "The book provides useful information by presenting a considerable number of institutional arrangements and showing the immense variety of approaches to economic development on the state and local level. The latter aspect is particularly fascinating for readers from countries with a less fragmented government than the United States." --Journal of Evolutionary Economics "Although there have been a plethora of publications on economic development, this book is a useful addition to the body of literature on the subject. The book provides some useful examples and case studies of private-sector participation, which, of course, is the goal of most economic development programs." --Government Finance Review

The fully revised new edition of this textbook presents a well-balanced set of economic development financing tools and techniques focused on our current times of economic austerity. While traditional public sector techniques are evaluated and refocused, this volume emphasizes the role of the private sector and the increasing need to bring together different techniques and sources to create a workable financial development package. The chapters address critical assessments of various methods as well as practical advice on how to implement these techniques. New chapters on entrepreneurship, the changing nature of the community banking system, and the increasing need for partnerships provides critical insights into the ever-evolving practice of economic development finance.

The fully revised new edition of this textbook presents a well-balanced set of economic development financing tools and techniques focused on our current times of economic austerity. While traditional public sector techniques are evaluated and refocused, this volume emphasizes the role of the private sector and the increasing need to bring together different techniques and sources to create a workable financial development package. The chapters address critical assessments of various methods as well as practical advice on how to implement these techniques. New chapters on entrepreneurship, the changing nature of the community banking system, and the increasing need for partnerships provides critical insights into the ever-evolving practice of economic development finance.

The recession and concerns over industrial competitiveness in the 1980s generated public concern with job retention and creation, leading to state and local programs designed to stimulate local economic development. As a new, rapidly growing field, local economic development literature proliferated, but has not provided a comprehensive source for the field. Several questions are of particular concern: What are the major financing mechanisms for economic development? How do they actually work? How does one evaluate their effectiveness? Financing Economic Development is a comprehensive resource which describes the major mechanisms available for financing economic development. The chapters describe financing tools or programs in some detail; provide one or more examples of how they work; classify the tool according to various approaches; and come to an evaluative conclusion about the utility and effectiveness of the mechanism for economic development. A documentation of institutional innovation by state and local government, this volume shows how governments--across the United Statesuare working with private sector financiers, thereby allowing private intermediaries to invest in new enterprises. With contributions by highly qualified practitioners and academics, this volume is appropriate for professionals as well as for upper division undergraduate and graduate students in urban studies, public administration, and policy studies. "The book provides useful information by presenting a considerable number of institutional arrangements and showing the immense variety of approaches to economic development on the state and local level. The latter aspect is particularly fascinating for readers from countries with a less fragmented government than the United States." --Journal of Evolutionary Economics "Although there have been a plethora of publications on economic development, this book is a useful addition to the body of literature on the subject. The book provides some useful examples and case studies of private-sector participation, which, of course, is the goal of most economic development programs." --Government Finance Review