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Center for Rural Affairs Releases Biennial Report on Rural Small Businesses

The Center for Rural Affairs recently released its 4th biennial assessment of rural small business trends, needs and concerns.

Jon Bailey, Director of Rural Public Policy Program, says the leading need and challenge among rural small businesses relates to capital and financing. 

Bailey says most small businesses begin as startups, with little capital, and continue that way throughout their existence. 

He says rural small business owners want more capital but do not want to increase their debt. 

On the other hand, Bailey says service providers who were surveyed say what these business owners actually need is additional training on how to operate and market their businesses.

"The business owners say they don’t need any training on business planning or basic business knowledge and then the service providers, who are independent and looking from these outside in on these businesses, say this is the greatest need these businesses have, especially at the start, just basic planning and knowledge of business.”

Bailey says the service providers are the people who are out there to help the businesses. 

He says the report also found that Latino owned businesses were more likely to be owned and operated by women, and the owners of these businesses tended to be younger than the rest of the sample group.