NC IDEA and MDC Announce Release of “Strengthening North Carolina’s Rural Entrepreneurship Future” Report
June 20 2024 - 10:36AM
Business Wire
Organizations Partner to Announce Opportunities
and Challenges of Rural Entrepreneurs in NC
NC IDEA, a private foundation committed to supporting
entrepreneurial ambition and economic empowerment in North
Carolina, in partnership with MDC, a nonprofit organization
dedicated to equipping Southern leaders, institutions, and
communities with the necessary tools and strategies to advance
equity and economic mobility in the US South, announced today the
release of “Strengthening North Carolina’s Rural Entrepreneurship
Future: Rural Entrepreneur & Ecosystem Partner Perspectives,” a
full report including in-depth analysis and recommendations around
rural entrepreneurship development. Together, with funding provided
by Wells Fargo, NC IDEA and MDC have partnered to explore avenues
to better support the needs of rural entrepreneurs across the
state.
“Growing up in rural North Carolina, I've seen firsthand the
huge potential for local entrepreneurs and the need for expanded
resources,” said Brandy Bynum Dawson, Senior Program Director of
Rural Prosperity and Investment at MDC. “Now, more than ever, it’s
time to push for efforts that support and celebrate the value of
rural entrepreneurship,” Bynum Dawson added.
To gain a comprehensive understanding of challenges and
opportunities and explore ways to better support the needs of rural
entrepreneurs across North Carolina, NC IDEA and MDC brought
together rural entrepreneurs and the organizations that support
them to document their unique experiences. Expanding access to
broadband, unique place-based opportunities in agriculture and
biotechnology, and the steadily increasing population size in many
rural communities are timely indicators that now is an opportune
time to invest in rural entrepreneurship.
“At a time when broadband access is improving and the 'new
normal' has changed the way we work and live, the landscape of
rural opportunity is evolving rapidly,” said Barry Ryan, Senior
Director of Strategic Partnerships at NC IDEA. “Our state’s rural
entrepreneurs and their supporting communities have shared a vision
for building a more vibrant future for our state, and in this
report, we have documented a playbook of the tools and resources
they need to make that vision a reality,” Ryan added.
North Carolina’s rural communities thrive on their culture of
ingenuity and resilience. Rural entrepreneurs face many challenges
in the development and sustainment of their businesses, yet there
are also a host of opportunities found only in rural North
Carolina’s unique landscape. As many rural regions have continued
to grow, it has become apparent that there are some key economic
and social advantages for small businesses and entrepreneurs in
rural communities. Given NC IDEA’s track record of advancing the
entrepreneurial potential of our state, the Foundation is uniquely
positioned to call on economic development and community leaders to
collaboratively respond to the needs of North Carolina’s rural
entrepreneurs.
“Wells Fargo is proud to collaborate with NC IDEA Foundation and
MDC to support their work aimed at building a stronger ecosystem of
support for rural entrepreneurs and their communities,” said Jay
Everette, head of Community Relations for Wells Fargo. “Rural small
business owners are the backbone of our local and regional
economies, especially here in North Carolina. As the Bank of Doing,
Wells Fargo is committed to making meaningful investments to help
them succeed,” Everette added.
For an in-depth analysis and recommendations, you can access the
full report, “Strengthening North Carolina’s Rural Entrepreneurship
Future: Rural Entrepreneur & Ecosystem Partner Perspectives” at
https://ncidea.org/rural-entrepreneurship/.
About NC IDEA Foundation
NC IDEA is an independent private foundation committed to
equitably empowering North Carolinians to achieve their
entrepreneurial potential. Through our powerful combination of
competitive grants and programs and a network of strategic
partners, we help entrepreneurs when they need it most. NC IDEA’s
resources are highly competitive, enabling the Foundation to
support North Carolina’s most ambitious entrepreneurs. We believe
entrepreneurs transform communities and view our work as a catalyst
for positive change. Learn more at www.ncidea.org.
About MDC
MDC equips Southern leaders, institutions, and communities with
the necessary tools and strategies to advance equity—particularly
racial and gender equity—and economic mobility. For over 50 years,
institutions, communities, foundations, and others across the South
have turned to MDC for deep knowledge and proven tools to design,
demonstrate, and sustain what works to boost members of
underinvested communities to higher rungs on the economic ladder.
Learn more at www.mdcinc.org.
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NC IDEA PRESS CONTACT: Andrea Cook, Senior Director
919.941.5600 • acook@ncidea.org
MDC PRESS CONTACT: Clarissa Goodlett, Director of
Communications 919.381.5873 • cgoodlett@mdcinc.org