3.) Economic Development | Access to Capital

A community can improve its ability to undertake economic development activities by having dedicated and knowledgeable staff devoted to community economic development. Dedicated community resources for entrepreneurship and business development, along with supportive leadership and engaged members, are cornerstones of successful economic development. This next section will help you evaluate your community’s economic development resources and processes:

What are the lending policies of area financial institutions?
How competitive are their rates?
Do you know how much money leaves the community?
Does your community have a method for determining how well your investment shillings are spent?
Has your community completed an economic leakage study? If so how are you planning to incorporate that information into long-term economic planning?
How much (as a percentage) does the average community member/household spend on goods or services outside the community?
Do you know how this percentage compares with other similar communities?
Does the community have a good working relationship with area banks, bankers, Capital Corporations, Financial Institutions, and other lending agencies?