Building an Entrepreneurial Community: Lifestyles and Environments That Can Appeal to Start-Ups?

Small and midsize communities may have more entrepreneurial potential than they realize. Economic clusters are often defined around specific industries, but the concept can also describe the many economic and social transactions that connect people within a community.

(Illustrative Only)
Start-up appeal
has a lot to do
with lifestyle...
and quality of life.

Everyday exchanges matter. Buying and selling, sharing information, attending club events, building friendships, making business connections, engaging with public services and investing in property all contribute to the local economic system. Together, these interactions create the environment in which businesses can grow.

Lifestyle is another important part of the equation. Entrepreneurs may be attracted not only by business opportunities but also by parks, waterfronts, recreation, arts, schools, sports, and a strong sense of community. These qualities can create the “buzz” that makes people want to move to an area, open a business, and put down roots.

Escanaba provides an interesting example. The waterfront, parks, financial institutions, schools, social organizations, businesses, and recreational opportunities represent assets that can work together as part of a larger entrepreneurial ecosystem. Anchor industries such as manufacturing, wood products, shipping, and boat repair can provide additional economic connections.

Think of it as a whole package sell. Lifestyle and 'Sense of Community' is important to entrepreneurs, the people who work here, and the people who visit (i.e. tourism which also support start-ups). 

The challenge is recognizing these assets and connecting them. A community that brings entrepreneurs, businesses, institutions, and community organizations together can create opportunities for new investment. Some businesses will succeed and others will fail, but entrepreneurship is often built on persistence and repeated attempts.

The larger opportunity is to show potential entrepreneurs why a community is worth investing in—not simply as a place to operate a business, but as a place to live, raise a family, participate, and build something that contributes to the next generation.

What Makes a City Entrepreneurial?

• Entrepreneurial cities develop ecosystems that fit their unique economic and community conditions.
• Universities, businesses, investors, mentors, and skilled workers help create a strong entrepreneurial environment.
• Successful businesses can encourage additional entrepreneurship by providing role models and resources.
• Midsize cities may have untapped human capital, businesses, and institutions that can support growth.
• Entrepreneurship includes both startups and existing businesses that expand, hire, invest, and enter new markets.

Sitarz, K. (2018, June 25). What makes a city entrepreneurial? Babson Thought & Action. https://entrepreneurship.babson.edu/what-makes-a-city-entrepreneurial/