When I briefly scanned the title of this article earlier last month, I was, like, "well, yeah. Duh!" Universities can create great jobs by graduating bright students who know how to jump onto new business trends. And when those students become entrepreneurs and set-up shop in a near-by city, their successful ventures help the region's economy thrive, too.
In the Forbes article, "How Universities Can Help Cities Create Good Jobs," Dileep Rao explains how universities can work with local cities to nurture and develop high-potential entrepreneurs.
Rao says universities help educate young people become high-potential entrepreneurs by teaching emerging business owners to take advantage of new trends, export in-demand goods and add global value to local products.
According to Rao, high-potential American entrepreneurs can:
- Help small, local businesses that depend on the local economy.
- Attract global multinationals to build a local plant in the United States. Multinationals tend to locate in areas based on markets, costs and productivity.
- Help mid-sized and potential mid-sized businesses stay local. When these businesses export and expand, the businesses can import wealth to the local area, too.
He also explains how cities can help local economies in this process:
- The federal government is interested in networking to connect American firms with global markets. This can help more local businesses find customers.
- State governments could fund more local business efforts.
- Cities could help make local businesses stronger and more competitive.
Do you live in a city that makes local businesses a priority? Do you know of any local universities that are dedicated to graduating bright entrepreneurs and encouraging them to help the local community? Let us know!
