The traditional landscape for starting a successful business is changing. In recent years, we have watched a remarkable shift in the entrepreneurial mindset, as more individuals are venturing into rural areas to build their businesses. Rural Nebraska, a region brimming with untapped potential and unique opportunities, is proving to be a fruitful place to start – especially Custer County. Let’s talk about some of the advantages to starting a business here.
Community. There may not be the bright lights and bustle of the more urban areas, but close-knit community support comes built-in. The entrepreneurial ecosystem in rural Nebraska is characterized by collaboration, mentorship, and a willingness to help one another succeed. Local chambers of commerce, economic development organizations, and business incubators play a crucial role in fostering entrepreneurship, providing resources, guidance, and networking opportunities to aspiring business owners.
Niche Market Opportunities. One of the key advantages of starting a business in rural Nebraska is the presence of unique market needs. Custer County contains distinctive opportunities that cater to specific needs. The availability of abundant natural resources as well as comparably affordable inputs help the ag economy thrive. The keen eye of local entrepreneurs can spot areas of need in the community and cater to the unmet demands in the economy.
Lower Operating Costs. Start-up costs associated with opening a business can be financially burdensome, with high rents, steep competition, and inflated operating costs all influencing your budget. Rural Nebraska offers a more affordable business environment to make the idea of starting a business less intimidating and more attainable. The cost of living is lower, and commercial real estate prices are more reasonable. These factors translate into reduced overhead costs, allowing entrepreneurs to allocate their resources more effectively and invest in the growth of their businesses.
The Role of Technology. Physical distance is no longer a major hurdle for entrepreneurs in rural areas thanks to technological advancements and rural broadband initiatives. Access to high-speed internet and remote collaboration tools have leveled the playing field. Entrepreneurs in Custer County are able to reach a global audience of customers and suppliers with the technology available to grow their business in an evolving world economy.
This is not to say that rural entrepreneurship doesn’t come with its own set of challenges. Workforce and housing shortages are two key issues CEDC is constantly strategizing solutions to. One thing we are never short on in Custer County and all across rural Nebraska is perseverance. With the right mindset, our communities have come together to collaborate new and innovative solutions to our shortfalls while still promoting our wins. This is what has and will continue to put Custer County at the forefront of innovation and economic growth in our state.