Developing high-growth businesses in rural areas: A study of four U.S. States

Abstract

Those who would establish high-growth businesses (HGBs) in rural settings face significant challenges. We report findings from more than 80 in-depth interviews regarding the obstacles that rural HGBs face and identify approaches for overcoming these obstacles. First, interviews confirm the need for improved access to a full range of financing options to support HGBs across different development stages. Second, HGBs need in-depth, sophisticated technical assistance, which is generally unavailable in rural areas. Finally, cooperation among financial and technical service providers is vital to program success. Based on these findings, a model is proposed for successful development of HGBs in rural areas.

Citation

Lamb, W.B. and Sherman, H. (2010), "Developing high-growth businesses in rural areas: A study of four U.S. States", New England Journal of Entrepreneurship, Vol. 13 No. 2, pp. 9-19. https://doi.org/10.1108/NEJE-13-02-2010-B001