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Knoxville Business News Tennessee Mountain Scenery Background
August 24, 2023 | Tom Ballard

Promoting rural entrepreneurship becomes a high priority

The importance is understood, but challenges like lack of broadband and skilled workers impede progress.

A publication named Business Outreach recently spotlighted the challenges that entrepreneurs in rural areas face.

In this article, the publication writes that “those who have been following rural development trends and policies over the past several years have certainly heard a lot about the necessity of promoting entrepreneurship in rural areas. As policymakers and rural development practitioners work to establish methods to sustain rural economies, encouraging entrepreneurship has come to the top of the list.”

Entrepreneurs located in rural areas still have challenges to overcome despite their enormous potential. A Megaphone of Main Street report from SCORE provides a summary of the issues, noting that 54.6 percent of rural small business owners say finding clients is the biggest concern keeping them “up at night.” Cash flow is another challenge along with:

  • Lack of sufficient numbers of skilled workers (35.9 percent of communities);
  • Out-migration as Americans leave rural areas (45.3 percent of the communities); and
  • Absence of access to broadband or high-speed internet (19.2 percent of people).

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