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Community Spotlight: Encouraging Entrepreneurship in Wheeling, West Virginia, and Emporia, Kansas
This week is National Entrepreneurship Week! Supporting local businesses and fostering strong entrepreneurial ecosystems are important activities for Main Street programs. New and long-standing successful businesses are the heart of Main Streets, providing local opportunities, driving economic revitalization, and creating a sense of community and place.
One initiative that offers a great case study of the power that Main Streets have to cultivate thriving entrepreneurial ecosystems is Show of Hands, a startup pitch-style program that uses community-driven crowdfunding to support new and expanding local businesses. The program was originally conceived in Wheeling, West Virginia, and later adopted by Emporia, Kansas, due to its demonstrated success.
The Concept
In 2014, Wheeling was facing high downtown vacancy rates and few avenues for new business creation. To address these issues, Wheeling Heritage came up with Show of Hands to bridge small business funding gaps and get community buy-in for local businesses. “The program is a way for the community to learn about new and emerging small businesses our community and feel like they have a stake in their success,” said Communications and Development Manager Alex Panas.
Show of Hands is open to anyone in the region interested in starting or expanding a business. Once businesses submit their proposals, community members vote with their wallets by attending the pitches and paying a cover charge. The funds raised via the cover charge are converted to a grant to the entrepreneurial concept of each attendee’s choice. Potential investors are also invited to the pitches and have the opportunity to provide additional investment funds to participating businesses. At the end, each business received a grant made up of the funds allocated to them by the public cover charges and investment funds.
The Impact
Wheeling’s Show of Hands program has awarded nearly $90,000 to 25 entrepreneurs. One of these awardees is Terry Jill Bonar, a local florist who first competed in the 2020 virtual Show of Hands. Terry Jill was a nurse who decided to pursue her dream of owning a floral shop when the hospital she had previously worked suddenly closed in 2019. Just as her business was up and running, the pandemic hit, presenting her a whole new set of challenges. The virtual version of Show of Hands allowed people to get a behind-the-scenes look at her storefront in a way that wasn't possible in our traditional in-person format. Since winning Show of Hands, Terry Jill completed her storefront, which has become a beautiful oasis for her customers and a functional space for her to serve her community with her passion for flowers.
The Expansion
In 2020, Emporia Main Street and Wheeling Main Street were invited to participate in a study on rural revitalization through the Brookings Institute. During the study, the Main Street programs had an opportunity to learn from each other. Emporia was impressed with Wheeling’s Show of Hands initiative; while they already had high school and collegiate pitch collections, they weren’t producing many successful businesses. The community-based model of Show of Hands seemed like a better fit for Emporia. Emporia Main Street Executive Director Casey Woods approached Alex Panas at Wheeling Main Street and initiated the “R&D” (rip-off and duplicate) of the idea. To adjust Show of Hands for Emporia, they added partners from Network Kansas, a statewide entrepreneurial support agency.“The Show of Hands pitch gives entrepreneurs an added incentive to get people involved in their business support at the ground level, wrote Casey Woods on the Emporia Main Street blog. “From the community perspective, these types of pitches create an ecosystem of ‘shared ownership’ that enhances community support for new startups and expansions.” Emporia Main Street is currently working with the Center on Rural Innovation and the Rural Innovation Network to identify funding and support gaps for certain businesses types so that Show of Hands can provide support where it is needed most.
“What makes our program so successful is the support we receive from our community stakeholders,” advises Alex Panas. “Once you assemble the right team and get the program is up and running, the results speak for themselves and people are always looking forward to the next event.” Small, local businesses rely on community buy-in more than other kinds of businesses, and Show of Hands engages the community to give them a sense of ownership and participation in their entrepreneurial ecosystems.
“Small businesses are what make Main Streets a destination,” said Alex Panas. Show of Hands is a great example of the types of programs that Main Streets can use to support their local entrepreneurs. “When we ask the question ‘whose responsibility is it to help entrepreneurs succeed?’ the answer should be ‘everyone’,” said Casey Woods.
Interested in learning more? Check out detailed information about Wheeling’s program here and Emporia’s program here.
Urban Impact Inc., harnesses strategic investments and collaborative efforts to foster a vibrant and sustainable future, from visionary adaptive reuse ventures to transformative development grants for small businesses and property owners in Birmingham, Alabama's historic 4th Avenue Black Business District.
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