As we convened our state and national microenterprise experts for a second time, some interesting and inspiring ideas began to emerge. The program that evolved remained rooted in providing access to capital for small and emerging businesses, but offered much more. Borrowing a concept from The Four Times Foundation in Montana, SD Rural Enterprise is exploring a program to offer rural entrepreneur fellowships.

Fellowships awarded each year would be aimed to help small and emerging entrepreneurs build equity and grow their ventures. More importantly, the fellowships would allow entrepreneurs to build capacity. Still in the planning stage, the draft of the proposed fellowship program currently includes:

Step 1: Identify willing communities

A major criterion for a successful fellowship program is the support of the community around an entrepreneur. Therefore, communities that show evidence of their willingness to support entrepreneurship will be eligible to be selected. Among the community requirements would be the formation of a local business resource team, which would assist fellowship candidates in the area and be a champion for business in the community.

Step 2: Select fellowship candidates

Candidates would be selected through a competitive process. The businesses selected will receive a fellowship contingent on the accomplishment of certain benchmarks. All those that apply for a fellowship will have access to the local business resource team and may be eligible to access additional loan capital.

Step 3: Assess potential outcomes

The rural entrepreneur fellowship program has the potential to affect both communities and owners of emerging businesses. This program requires that the two work together to be successful. In the end, the ultimate goal is the creation and growth of successful rural businesses, but creating and sharing stories of hope and possibility is equally important.

To find out more about the rural microenterprise program as it takes shape, contact Rey Gonzales at or phone 605-978-2804.

2007 SUMMER REPORT
	Market research shows progress, promise & potential
	"Enterprise" fuels the spirit of SD business
	Author presents workshop to Rural Enterprise board
	Microenterprise program begins to take shape
	Capital Investment Fund is working for SD
	Meadowlark Retreat
	Helping communities & organizations to GROW
	Program creates value-added communities