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Entrepreneurship in Nebraska - Thompson.

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Information about Entrepreneurship in Nebraska - Thompson.
Business-Finance

Published on December 8, 2008

Author: aSGuest5640

Source: authorstream.com

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Entrepreneurship in Nebraska:Economic Indicators : Eric ThompsonUniversity of Nebraska-Lincoln Entrepreneurship in Nebraska:Economic Indicators Entrepreneurship and the State Economy : 2 Entrepreneurship and the State Economy Entrepreneurs benefit the national economy by developing new products, and cutting costs Same factors mean that entrepreneurship increases the relative competitiveness and growth of local economies. Comparisons : 3 Comparisons There has been tremendous growth in entrepreneurship in the United States economy in recent years We compare Nebraska to the nation Has Nebraska fully participated? We also compare growth in the 6 community college regions of Nebraska Community College Regions : 4 Community College Regions Tracking Entrepreneurship in Nebraska : 5 Tracking Entrepreneurship in Nebraska We tracked the progress of entrepreneurship in Nebraska over the two decades by measuring: Growth in business counts New firm formation rates Income of entrepreneurs Income creation Comparison of NE with US Business Counts : 6 Comparison of NE with US Business Counts Net growth in the number of businesses in Nebraska lags U.S. by 0.5% to 1.0% per year. Nebraska population is also growing more slowly. These findings are related. Lower rates of business formation is one factor limiting population growth in the state. Comparison of NE with US Business Counts : 7 Comparison of NE with US Business Counts However, there are a number of factors that affect population growth. And, lower population growth also may limit growth in business counts. It is useful to look at per person growth in business – to what extent are Nebraskan’s generating businesses? Employer Establishment Counts Per Person 2005 : 8 Employer Establishment Counts Per Person 2005 Annual Growth in Employer Establishments Counts Per Person 1994-2005 : 9 Annual Growth in Employer Establishments Counts Per Person 1994-2005 Comparison of NE with US Business Counts : 10 Comparison of NE with US Business Counts The growth of employer establishments per person is similar in Nebraska and United States. The picture is different when examining all firms, including proprietor’s without employees. Annual Growth in Business Counts Per Person 1994-2003 : 11 Annual Growth in Business Counts Per Person 1994-2003 Annual Growth in Business Counts Per Person 1994-2003 by Type of Business : 12 Annual Growth in Business Counts Per Person 1994-2003 by Type of Business Firm Births Per Person 2002-2004 : 13 Firm Births Per Person 2002-2004 Comparison of NE with US Income Creation : 14 Comparison of NE with US Income Creation Faster growth in income per proprietor and revenue per business in Nebraska. Faster growth in per capita income and income from wealth in Nebraska. Real Income Per Non-Farm Proprietor 2004 : 15 Real Income Per Non-Farm Proprietor 2004 Annual Growth in Real Income Per Non-Farm Proprietor 1990-2004 : 16 Annual Growth in Real Income Per Non-Farm Proprietor 1990-2004 Relative Per Capita Income 1990-2005Non-Farm Income : 17 Relative Per Capita Income 1990-2005Non-Farm Income Income from WealthReal Per Capita Income from Dividends, Interest and Rent 1990 to 2005 : 18 Income from WealthReal Per Capita Income from Dividends, Interest and Rent 1990 to 2005 Comparison among 6 Community College Districts : 19 Comparison among 6 Community College Districts Compare the number of employer establishments per person in the 6 districts, and growth in employer establishments. Compare growth in real income per proprietor, and per capita income. Employer Establishments Per Person 2005by Community College District : 20 Employer Establishments Per Person 2005by Community College District Annual Growth in Employer Establishment Counts Per Person 1990-2005by Community College District : 21 Annual Growth in Employer Establishment Counts Per Person 1990-2005by Community College District Real Income Per Non-Farm Proprietor 1990-2004 by Community College District : 22 Real Income Per Non-Farm Proprietor 1990-2004 by Community College District Relative Non-Farm Personal Income 1990-2003by Community College District : 23 Relative Non-Farm Personal Income 1990-2003by Community College District Real Dividend, Interest, and Rent Income Per Person 1990-2004 by Community College District : 24 Real Dividend, Interest, and Rent Income Per Person 1990-2004 by Community College District Conclusion : 25 Conclusion Many indicators suggest an average level of entrepreneurship in Nebraska. Nebraska and the United States have a similar number of businesses per person. The growth rate among employer establishments is similar in Nebraska and the nation on a per person basis. Firm birth rates are slightly higher in Nebraska than nationwide. Income per proprietor is growing more quickly in Nebraska than nationwide, as is revenue per firm, and per capita income. Conclusion : 26 Conclusion But many indicators suggest that entrepreneurial success in the state is concentrated in the Omaha area. While the number of employer establishments per person grew strongly in all 6 Community College Districts of Nebraska, the average income of proprietors was flat or declining in 5 of these districts. Omaha was the only region with rapidly growing average income per proprietor.

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