Progress 01/06/03 to 09/01/08
Outputs
OUTPUTS: One of the major outputs of the project was an entrepreneurship survey of nascent entrepreneurs in the gestation stage of the entrepreneurial process. Information has been disseminated via presentations and workshops. I also conducted 18 workshops to an audience of 640 individuals. A symposia was conducted at AAEA (Agricultural and Applied Economics Association) related to entrepreneurship. Papers on global trade were also preented at AAEA. From the tobacco survey we found the farmer optimism had a statistically significant impact on how farmers spent their tobacco buyout money.This work was presented at the USASBE (United States Association of Small Business and Entrepreneurship) annual conference. PARTICIPANTS: Nothing significant to report during this reporting period. TARGET AUDIENCES: Target audience has been entrepreneurs and small businesses in rural areas as well as other academics. PROJECT MODIFICATIONS: Nothing significant to report during this reporting period.
Impacts
Results of the survey of tobacco farmers in Kentucky showed that differences exist between growers and quota leasees in terms of whether they chose a lump sum buyout payment or 10 annual payments. Household composition affected that choice as well. Overall, our results show that it is important for policy makers to take into acccount the hetergeneity among farmers when setting policy.
Publications
- Mayen, C., M.I. Marshall, and J. Lusk. 2007. Fresh Cut Melon The Money is in the Juice. Journal of Agricultural and Applied Economics 39(3): 597-609.
- Peake, W.O., M.I. Marshall, and P.V. Preckel. 2008. A Ranking of State Governments Efficient Use of Expenditures to Encourage Small Firm Births. Journal of Small Business Strategy 18(2): 43-55.
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Progress 10/01/06 to 09/30/07
Outputs
OUTPUTS: I have mainly concentrated on micro-enterprise development by providing business management assistance, and developing research based instructional materials and publications that can be used with a diverse audience. I have coordinated and delivered workshops nationally and internationally (e.g. Indiana, Ohio, Illinois, and Egypt) related to small business development. I have conducted 27 workshops and presentations to an audience of 945 individuals.
PARTICIPANTS: Helen Pushkarskaya, Department of Agricultural Economics, University of Kentucky. This person is a co-author on several papers related to project. Neighborhood Self-Employment Initiative is a partner organization in outreach activities. Graduate students have part of the project.
TARGET AUDIENCES: Target audience has been entrepreneurs and small businesses in rural areas. Another target audience has been Latino entrepreneurs.
Impacts
Results of the Indiana Entrepreneurship survey showed that business planning is crucial to the start-up process, thereby providing small business development practitioners improved information that may help them structure their assistance programs to best meet the needs of entrepreneurs. Results of the survey of tobacco farmers showed that there are statistically significant differences in the way farmers chose to spend their buyout money based on age, education, gender, and internet use. We also found that farmer optimism had a statistically significant impact on expenditure choice. Overall, our analysis suggests that it is important for policymakers to take into account this heterogeneity instead of treating all farmers as a homogeneous group of representative agents.
Publications
- Marshall, M.I. and T.L. Marsh. 2007. Consumer and Investment Demand for Manufactured Housing Units. Journal of Housing Economics 16: 59-71.
- Johnson, A., J. Fulton, and M.I. Marshall. 2007. Steps for Developing Effective Grant Writing Workshops. Journal of Extension. Volume 45(1).
- Marshall, M.I., A. Johnson, and J. Fulton. 2006. Writing a Successful Grant Proposal. Department of Agricultural Economics, Purdue University, EC-737: 12 pages.
- Lusk, C.L. and M.I. Marshall. 2006. Licensing, Regulatory, and Tax Requirements for Indiana Businesses: A Checklist Guide for New Businesses. Department of Agricultural Economics, Purdue University, EC-733-Revised: 130 pages.
- Marshall, M.I. and W.O. Peake. 2007. Demystifying Hoosier Entrepreneurs. Purdue Agricultural Economics Report: 1-3.
- Marshall, M.I. 2007. Evaluating Financing Option for Expansion. The New Agricultural Network. May, Volume 4(3).
- Marshall, M.I. 2006. Who Chooses to Own a Manufactured Home? Purdue University, Department of Agricultural Economics, Staff Paper #06-12, December.
- Peake, W. O and M.I. Marshall. 2006. What Do We Really Know About Entrepreneurs? An Analysis of Nascent Entrepreneurs in Indiana. Purdue University, Department of Agricultural Economics, Staff Paper #06-14, December.
- Peake, W.O and M.I. Marshall. 2007. Getting the Most Bang for the Buck: An Analysis of States Relative Efficiencies in Promoting the Birth of Small Firms. The Office of Advocacy Small Business Working Papers from U.S. Small Business Administration, Office of Advocacy.
- Peake, W.O. and M.I. Marshall. Is Degree of Rurality More Crucial to Small Firm Births than Access to Incubators? An Analysis of States Relative Efficiencies in Promoting the Birth of Small Firms. Selected paper presented at the American Agricultural Economics Association Conference, Portland, OR, July, 2007.
- Marshall, M.I. and H. Pushkarskaya. What did they do with the money? An Analysis of Tobacco Farmers Expenditure Choices. Selected paper presented at the American Agricultural Economics Association Conference, Portland, OR, July, 2007.
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Progress 10/01/05 to 09/30/06
Outputs
The results from the entrepreneurship study could help provide small business development entities with information on the important determining factors of entrepreneur's participation in a small business start-up and help them focus on those important aspects. Several key points were evident in the logit model results, and the conclusions drawn from these findings can assist small business development and university-related centers in program design to effectively meet the needs of entrepreneurs participating in a small business start-up. The information gained from this study will also help small business development service providers to design seminars and programs in such a way that it will most benefit entrepreneurs. Financial capital is an important factor for entrepreneurs as they take on the task of business formation. Out of the total of 84 participants, 30 participants fell into the lowest category of net worth, which signifies net worth less than $50,000.
Participants with lower net worth may have greater difficulty in securing financial capital to take on the task of business formation. Those with medium and higher levels of net worth have the greater propensity to be involved in a business start-up.
Impacts
To promote entrepreneurship at the lower levels of net worth, some funding opportunities such as incentives for education, micro-enterprise loans etc, may be needed to help entrepreneurs with lower levels of income to participate in a business start-up.
Publications
- Marshall, M.I. and A. Samal. 2006. The Effect of Human and Financial Capital on the Entrepreneurial Process: An Urban-Rural Comparison of Entrepreneurs in Indiana. AgEcon Search: Research in Agricultural and Applied Economics. http://agecon.lib.umn.edu. Selected paper presented at the American Agricultural Economics Association Conference, Long Beach, CA.
- Alexander, C. and M.I. Marshall. 2006. The Risk Matrix: Motivating the Importance of Risk Management Strategies. Journal of Extension. Volume 22(2).
- Marshall, M.I. and C. Alexander. 2006. Using A Contingency Plan to Combat Human Resource Risk. Journal of Extension. Volume 22(2).
- Marshall, M.I. 2006. Contingency Planning: A Well Kept Secret. Seed World. Volume 17, Number 2.
- Marshall*, Maria I., D. Bush, and K. Hayes. 2005. Extension Programming for Food Entrepreneurs: An Indiana Needs Assessment. Journal of Extension.
- Marshall, M.I. and T.L. Marsh. 2006. Endogenous Trade Protection in the Mexican Corn Market. Journal of International Agricultural Trade and Development. Volume 2, Issue 2.
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Progress 10/01/04 to 09/30/05
Outputs
The Study on Entrepreneurship in Indiana was designed to study entrepreneurs as they actually involve themselves in the entrepreneurial process, to gain an improved insight into the challenges they face throughout business creation. This study involved 65 respondents, who were surveyed to determine the factors that most affect them as entrepreneurs, given the current demographic status of the entrepreneur and the economic conditions of the area in which he/she resides. Survey results show that most of our respondents are between the ages of 26 and 44, fifty-eight percent are female, and 78 percent are white. Only 29 percent of the respondents had any previous startup experience and 59 percent had attempted to write a business plan. Thirty-four percent had a net worth less than 50,000 dollars and 40 percent had a net worth of over 100,000 dollars. A study was conducted in order to determine the relative impact of human, financial and social capital on the small
business formation process for entrepreneurs in the gestation stage who are approaching firm birth. We found that some college education increases an entrepreneur's chances of starting a new business. Attempting to create a business plan increases an entrepreneur's likelihood of starting a new business by 24 percent. Legislation passed during the 1990s attempted to move agricultural disaster relief to a more market oriented process. The failure of this legislation has been attributed to the political system behind agricultural disaster relief. This research explores the impact of political influence on the allocation of direct agriculture disaster payments during the 1990s. The results reveal that direct agriculture disaster payments are higher in those states represented by public officials key to the allocation of agricultural disaster relief. The effectiveness of legislation aimed at promoting crop insurance over direct cash payments is also examined. Importantly, direct
agriculture disaster payments are found to be simultaneously determined and negatively correlated with crop insurance payments indicating that disaster relief programs are not independent of other governmental risk management programs. The findings question a purely altruistic model of direct agriculture disaster assistance -and suggest a move toward more efficient methods of providing disaster relief.
Impacts
A better understanding of the factors that help or hinder individuals during the entrepreneurial process will provide valuable information to both entrepreneurs and the entities that serve them. Through the information provided by this study, it is hoped that small business and economic development agencies may structure their entrepreneurship programs to best meet the needs of their clients; thus, improving the success rate of entrepreneurs. We found that political influence more than need affect the way that direct agricultural disaster payments are distributed. This may suggest a move to a more efficient method of providing disaster relief.
Publications
- Marshall, M.I. and T.L. Marsh. 2003. "Endogenous Protection in the Mexican Corn and Sorghum Market." AgEcon Search: Research in Agricultural and Applied Economics. http://agecon.lib.umn.edu.
- Marshall, M.I. and W. Oliver. 2005. "The Effects of Human, Financial, and Social Capital on the Entrepreneurial Process for Entrepreneurs in Indiana." http://www.aeaweb.org/annual_mtg_papers/2005papers.html.
- W.O. Peake and M.I. Marshall. 2005. "Human Capital and its Effect on Entrepreneurship: A Key Component or Much Ado About Nothing?" AgEcon Search: Research in Agricultural and Applied Economics. http://agecon.lib.umn.edu.
- Marshall, M.I. "Defining Your Business Through Goals and Objectives: First Steps for New Entrepreneurs." Department of Agricultural Economics, Purdue University, EC-727, 2004: 3 pages.
- Lusk, C.L. and M.I. Marshall. "Licensing, Regulatory, and Tax Requirements for Indiana Businesses: A Checklist Guide for New Businesses." Department of Agricultural Economics, Purdue University, EC-733, 2004: 130 pages.
- Marshall, M.I. "2003 Small Business Indicators." Purdue Agricultural Economics Report. (Pg 5-8), 2004.
- Lusk, C.L. and M.I. Marshall. "How to Use Goals to Achieve Business Success: First Steps for New Entrepreneurs." Department of Agricultural Economics, Purdue University, EC-726, 2005: 10 pages.
- Mayen, C. and M.I. Marshall. "Opportunities in the Fresh-Cut Fruit Sector for Indiana Melon Growers." Department of Agricultural Economics, Purdue University, EC-732, 2005: 8 pages.
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Progress 10/01/03 to 09/29/04
Outputs
A survey of Indiana entrepreneurs in the gestations stage of the entrepreneurial process was conducted. Preliminary results show that 89% of the entrepreneurs have a large retail chain in their community and 93% perceived the economy in their communities to be either growing with many thriving new businesses or stable with many established small businesses. These preliminary results indicate that entrepreneurs are more likely to start businesses if they perceive their communities to be thriving.
Impacts
The study will assess the factors that affect entrepreneurs during the start-up process. The study will also assess policy changes that may lower the institutional barriers that affect small businesses and in turn increase the economic development of rural communities.
Publications
- No publications reported this period
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Progress 01/06/03 to 09/30/03
Outputs
Endogenous Protection in the Mexican Corn and Sorghum Markets was presented at the AAEA meetings in Montreal Canada. Results showed that uncertainty in the corn import market in Mexico significantly increased import prices and decreased export quantity of corn and sorghum from the United States to Mexico. The entrepreneurship project is in its early stage of development. A survey to determine the factors that affect entrepreneurs in the gestation and infancy stages of the entrepreneurial process is being developed. Data collection will begin in February 2005 through a series of workshops that will be conducted by the author for entrepreneurs interested in starting a business in Indiana. Workshops will also be delivered in Spanish for immigrant entrepreneurs.
Impacts
The study will quantify impact of institutional barriers on U.S. firms. The study will also access policy changes that lower the institutional barriers that affect small businesses and in turn increase the economic development of rural communities.
Publications
- No publications reported this period
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