Q: What is the Rural Entrepreneurship Initiative?
A: LED’s Rural Entrepreneurship Initiative, delivered in partnership with the Edward Lowe Foundation, is a comprehensive program consisting of leadership development, peer learning, and strategic information that aims to accelerate the growth of second-stage businesses in rural areas of Louisiana.
Q: What is an eligible company for the Rural Entrepreneurship Initiative?
A: A Louisiana-based, rural small business that is past the start-up phase, has not yet reached maturity and is poised for future growth. Typically, these are second-stage growth companies with annual revenues of $600,000 to $50,000,000 that employ between five and 99 employees and have demonstrated the desire, ability and capacity to grow. A rural business is located in a city with less than 50,000 in population.
Q: Does meeting all of the eligibility requirements for LED’s Rural Entrepreneurship Initiative guarantee my acceptance into the program?
A: No. Due to high demand and limited capacity, eligibility does not guarantee acceptance into LED’s Rural Entrepreneurship Initiative.
Q: What is the cost to participate?
A: The program is wholly funded by LED.
Q: What are the services offered through the Rural Entrepreneurship Initiative?
A: The Rural Entrepreneurship Initiative consists of three components – a virtual kickoff retreat workshop spanning two hours for each of the three consecutive days, three monthly virtual roundtable sessions for peer-to-peer learning, and a customized Strategic Research engagement scheduled individually for each participant.
Q: How much time should I plan to dedicate to this program?
A: Participation in the program will consist of 12 hours of group time and another 10-12 hours of individual time with specialists spread over at least four months.
Q: As the leader of an Entrepreneur Support Organization, why should I refer my clients to the Rural Entrepreneurship Initiative program?
A: Referring clients to other state-supported services such as the Rural Entrepreneurship Initiative can help build trust, increase effectiveness and strengthen the entrepreneurial culture in Louisiana.