Rate of self-employed falling in rural America

WASHINGTON, Oct. 11, 2017 - A new report from the U.S. Small Business Administration shows the rate of entrepreneurship in rural America is falling. The report, “The Retreat of the Rural Entrepreneur,” points out that in 1988, more than a fourth of the self-employed lived in rural areas, but by 2016, that had fallen to less than 1 in 6. The report’s author, Daniel Wilmoth, says the decline was caused by a population shift away from rural areas and a fall in the rural rate of self-employment. He suggests that the trend could be slowed or reversed by policy options that increase the attractiveness of careers in rural areas. “Improved telecommunications and transportation infrastructure can improve educational, employment, and business opportunities,” Wilmoth writes. “New business formation can be encouraged by providing guidance to aspiring entrepreneurs, improving the terms and availability of financing, and mitigating the burdens imposed by taxes and regulations.”