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Entrepreneurship – both of traditional and non-profit type – is a central pillar of economic development, job creation and social inclusion, and a catalyst for urban regeneration in deprived areas. Across the OECD the scope, number and growth of entrepreneurship support programmes are striking. Yet entrepreneurship strategies targeting...
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This chapter starts by examining the importance of entrepreneurship financing for distressed urban neighbourhoods as well as the barriers that exist, including lack of verifiable market information, limited access to capital markets, cost of technical expertise, “redlining” and racial discrimination. It then describes the current mechanisms for financing entrepreneurs in U.S. distressed urban neighbourhoods, covering personal...
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This chapter examines financing entrepreneurship in European distressed urban areas. A “finance issue” is identified focused on the need to stimulate a wider range of external financing instruments in distressed urban areas. Particular attention is paid to financing of pre-activity, bank- SME round tables, mutual guarantee schemes, business angels and “love money” investments. At the same time an “entrepreneurship issue” must also addressed, by improving the overall climate of an area for fostering...
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This chapter examines policies for advice, training and mentoring of entrepreneurs in US distressed urban areas. Existing support is described, covering federal, state and local government programmes, and foundationdriven support and limitations of existing support are highlighted. New thinking is outlined about the provision of advice, training and mentoring to entrepreneurs in United States inner cities, based around integrating...
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Effective training, advice and mentoring programmes are needed to develop entrepreneurial attributes amongst inner city residents together with specific functional competencies like financial management or market research. Various initiatives are described, including promotion of enterprise as a viable option, use of role models, sensitive outreach...
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Social enterprises in the United States are increasing economic options for low-income communities and nonprofit organisations. An unanswered question, however, is to what degree social enterprises can significantly contribute to urban rebuilding, particularly for highly-distressed cities. This paper argues that social enterprises can make such a contribution if public and private enterprises with social missions are included in the...
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If social enterprises wish to have a positive impact on the regeneration of distressed urban areas, a supporting framework enabling them to scale up and sustain their activities is needed. Another strategy is to establish intermediate structures (acting like development agencies) able to play a role in providing information, advice and training. Supporting social enterprises also means providing them with appropriate financial tools...
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This chapter examines area-based programmes in distressed areas of Chicago. These programmes are typical of those employed in the United States, have been associated with significant success and have considerable scope for transfer to other countries. Five programmes are described: federal Empowerment Zones; state Enterprise Zones; municipal Tax...
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Increasingly, promoting entrepreneurship is considered to be a useful tool to turn the tide in deprived urban areas. This chapter discusses implicit and explicit area-based policies to promote entrepreneurship in five distressed neighbourhoods in the cities of Antwerp, Dortmund, Manchester, Rotterdam and Strasbourg.
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This chapter builds on the preceding analysis, on specific tools to promote entrepreneurship, by examining how cities and their development agencies can create integrated entrepreneurship strategies for distressed neighbourhoods. It shows how cities combine actions for social enterprises, area-based and zone-led regeneration, finance, training and mentoring and other initiatives into comprehensive strategies. Initiatives...
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