Community Assessment: Entrepreneurship

The Community Assessment is a critical step in understanding the Cheyenne area’s position and the issues that it faces in an increasingly competitive environment for new jobs, talent, and corporate investment. Below is just a segment from the full Community Assessment report.

Business Climate: Connectivity, Cost, and Other Considerations

Regarding other aspects of economic development programming and service delivery, over half (52.1 percent) felt that Greater Cheyenne has been unsuccessful or very unsuccessful at helping existing businesses overcome local barriers to growth and expansion while just 11.3 percent felt that the community has succeeded in this regard. Similarly, 50.9 percent felt the community had been unsuccessful or very unsuccessful at providing the necessary assistance to entrepreneurs and small businesses, as compared to 12.2 percent that felt the community had succeeded. Input participants expressed that Downtown Cheyenne is an optimal location for creative small business support and generation. In terms of talent, 60.5 percent of survey respondents believe that Greater Cheyenne has been unsuccessful at developing a sustainable, skilled workforce, compared to 6.9 percent that feel the area has been successful. Nearly 80 percent of respondents felt that the community has been unsuccessful or very unsuccessful at retaining the best and brightest students and young professionals, compared to only 4.1 percent who felt Greater Cheyenne has been successful. In summary, respondents feel that the community has been more successful in tourism marketing and its corporate marketing and recruitment efforts, and less successful in its efforts related to entrepreneurship, existing business expansion, and talent development, attraction, and retention. The remaining stories will focus on the assets supporting talent development (notably, its school systems) and the assets supporting talent attraction and retention (notably, its quality of life and downtown).

Rachel Girt