Young entrepreneurs play key role in Florida revitalization

B usiness leaders in Florida’s Space Coast region are counting on the development of young entrepreneurs to bring the area back out of the recession, Florida Today reports.

"Small business is where most of the economic activity occurs in good times or bad, and most of the truly successful ones tend to be driven by younger professionals in their 20s and 30s," said Chester Straub, executive director of the Technological Research and Development Authority. "Having a pool of young, enthusiastic entrepreneurs is very important here."

The paper says many entrepreneurs have been helped by business incubation programs such as the one at Brevard Community College – which helps small business owners develop their business plans and growth strategies.

A recent survey by the Kauffman Foundation for Entrepreneurship found that 37 percent of youths said they saw forming a company as a real possibility.

The Space Coast region – located mostly in Brevard County on Florida’s eastern coast – has seen a steady rise in unemployment since 2006 – when the area’s jobless rate was below 3 percent. It now sits at 11.4 percent – more than 2 points higher than the national average.