UNITED STATES CONGRESSMAN 3rd DISTRICT, NEBRASKA TOM OSBORNE

Washington Round-up | Week of May 12, 2003

Be a Part of Nebraska’s Future: Opportunities, Tools for Entrepreneurs

Each spring, there is an annual rite of passage in Nebraska. Thousands of students complete their high school education and earn their diplomas. But what seems to follow this pomp and circumstance is a growing problem: more and more young people are leaving the state for other opportunities. So how do we stem the tide? Through my annual Youth Leadership Forums, I have been working to urge more students to plan their future in Nebraska by becoming an entrepreneur.

As I travel in the Third District, I encounter good people accomplishing great things every day in our state. Along with everything that is good, life in Nebraska can be made even better if more young people decide to play a role in our state’s future. Nebraskans have a rich history of business success, but our population is decreasing and too many young people are crossing our state lines. One way to improve Nebraska is to ensure that small towns have diverse economies and opportunities for young people. We can do this by putting the tools in young people’s hands to become entrepreneurs.

What is an entrepreneur? Simply stated, an entrepreneur is an individual who works to turn a business idea into a profitable reality. Unfortunately, not many people talk about how to become an entrepreneur. Yet, more than two-thirds of high school students want to be entrepreneurs. I believe that growing our own businesses is essential to the future of the Third District. Entrepreneurs can supply the business and economic diversity to help our communities grow and thrive. There are numerous successful local businesses in the Third District, but there is room for even more new businesses.

Although going to college in another state and moving to a big city sounds enticing to many youth, most do not factor in that the costs are much more expensive than in Nebraska. In fact, $1,400 per month for an apartment is not at all unusual in many cities. A comparison by the National Real Estate Relocation Guide shows that a person living in Columbus, Nebraska making $30,000 per year, would need to make the following salaries in the respective cities to enjoy the same standard of living (housing, car, entertainment, and other expenses):
Chicago = $65,044
Denver = $43,566
Los Angeles = $50,308
Washington, D.C. = $58,807
New York = $99,433

In other words, young people who choose to live in any of these cities would need to make substantially more money to live the same way as they would in Columbus. Getting a business started in Nebraska could be a more affordable and a more realistic approach to making a young person’s dream opportunity become a reality. Our people, resources, and quality of life are second to none.

In addition, numerous resources are available to help start a business. My offices are one tool to get assistance and answers to your questions. The Nebraska Business Development Center, the Nebraska Department of Economic Development Business Tool kit, the Nebraska EDGE (Enhancing, Developing & Growing Entrepreneurs), and the U.S. Small Business Administration are just a few of the organizations dedicated to helping young entrepreneurs get started.

I believe that Nebraska offers many opportunities for business-minded individuals, young and old. Profit systems in Ogallala provides software for radio stations around the world and was developed by a young local entrepreneur. Backporch Friends, a wholesale company employing eight people, was created by an enterprising high school sophomore in Valentine. Marshall Custom Hats is a thriving business created by an entrepreneur in Arthur.

Growing our own businesses through the efforts of entrepreneurs can help make rural Nebraska a better place to work, live and raise a family. It is my hope that we can foster the entrepreneurial spirit within every high-school graduate who wants to start a business. The Third District is an ideal location from which to launch fresh, new ideas.