Glen Muske

Michael Woods

As communities look towards developing their economic sectors, many of them have focused on the recruitment of new business and industry. As noted by development specialists, such planning strategies ignore an existing community resource, existing businesses and industries. Although reasons may exist for why little attention is paid to this segment, one identified reason has been the failure to recognize the current size and contributions of this economic segment.

This session will focus on the results of an Oklahoma study that studied a random sample of households in order to locate business owners. Such research, as noted by the National Family Business Studies of 1997 and 2000, have noted higher frequencies of business ownership than found in research where a business sampling frame is used or where sales or income tax records are used. These unnoticed businesses form a core of resources that developers need to consider in terms of how they can be nurtured to remain in business and to grow. The study will examine the type of businesses found, their size in terms of employees and gross profit, whether the business is a family business and/or home-based, and the owner's perspective of the success of the business. In addition, various demographic variables related to these businesses will be explored.

The goal of the roundtable will be to increase the awareness of community development specialists of the small and family business owner and to increase the realization of the possibility this segment can be to a community.