IDEAS home Printed from https://ideas.repec.org/a/taf/comdev/v48y2017i2p282-298.html
   My bibliography  Save this article

The silver tsunami and rural small business retention: What can communities do?

Author

Listed:
  • Elizabeth Templin
  • Scott Chazdon
  • Glenn Muske
  • Felipe Dyna Barroso
  • Lillian Osborne
  • William Craig

Abstract

Since many rural communities have a disproportionately older population, the “silver tsunami” of retiring baby boomers has fueled interest in small business succession as a business retention strategy. Most business succession research has focused solely on the firm level without addressing community-level aspects. This article emphasizes the importance of community responses by blending findings from a rural small business survey with key informant interviews. Study findings suggest that successful business succession creates an opportunity for business expansion. Of the 118 new owners surveyed, 41% increased employment, 68% increased sales volume, and 68% increased their customer base. Communities reported facilitating business succession by (1) emphasizing the importance of succession planning, (2) reducing financial, time, and confidentiality barriers, and (3) providing accessible resources.

Suggested Citation

  • Elizabeth Templin & Scott Chazdon & Glenn Muske & Felipe Dyna Barroso & Lillian Osborne & William Craig, 2017. "The silver tsunami and rural small business retention: What can communities do?," Community Development, Taylor & Francis Journals, vol. 48(2), pages 282-298, March.
    • Handle: RePEc:taf:comdev:v:48:y:2017:i:2:p:282-298
    DOI: 10.1080/15575330.2017.1287110
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/15575330.2017.1287110
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/15575330.2017.1287110?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hancock, Christine & Steinbach, Alan & Nesbitt, Thomas S. & Adler, Shelley R. & Auerswald, Colette L., 2009. "Why doctors choose small towns: A developmental model of rural physician recruitment and retention," Social Science & Medicine, Elsevier, vol. 69(9), pages 1368-1376, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pedro Ramos & Hélio Alves & Paulo Guimarães & Maria A. Ferreira, 2017. "Junior doctors’ medical specialty and practice location choice: simulating policies to overcome regional inequalities," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 18(8), pages 1013-1030, November.
    2. Weinhold, Ines & Gurtner, Sebastian, 2014. "Understanding shortages of sufficient health care in rural areas," Health Policy, Elsevier, vol. 118(2), pages 201-214.
    3. McGrail, Matthew R. & Humphreys, John S. & Joyce, Catherine M. & Scott, Anthony, 2012. "International medical graduates mandated to practise in rural Australia are highly unsatisfied: Results from a national survey of doctors," Health Policy, Elsevier, vol. 108(2), pages 133-139.
    4. Paxton, Catherine M. & Anderson, Kayla M. & McDonald, Yolanda J., 2022. "The water sector industry workforce: A quantitative case study, Tennessee, USA," Utilities Policy, Elsevier, vol. 76(C).
    5. Scott, Anthony & Witt, Julia & Humphreys, John & Joyce, Catherine & Kalb, Guyonne & Jeon, Sung-Hee & McGrail, Matthew, 2013. "Getting doctors into the bush: General Practitioners' preferences for rural location," Social Science & Medicine, Elsevier, vol. 96(C), pages 33-44.
    6. Catherine Cosgrave & Christina Malatzky & Judy Gillespie, 2019. "Social Determinants of Rural Health Workforce Retention: A Scoping Review," IJERPH, MDPI, vol. 16(3), pages 1-19, January.
    7. Creed, Peter A. & Searle, Judy & Rogers, Mary E., 2010. "Medical specialty prestige and lifestyle preferences for medical students," Social Science & Medicine, Elsevier, vol. 71(6), pages 1084-1088, September.
    8. Probst, Markus, 2021. "Ohne Moos nichts los? Eine Discrete-Choice-Analyse der Präferenzen von Medizinstudenten für die Arbeit auf dem Land [No Mon, No Fun? A Discrete Choice Analysis of the Preferences of Medical Student," Junior Management Science (JUMS), Junior Management Science e. V., vol. 6(3), pages 507-546.
    9. Feder-Bubis, Paula & Bin-Nun, Gabi & Zarhin, Dana & Sherf, Michael & Heiman-Neuman, Nitza, 2023. "Residents' choice of a placement in periphery hospitals in Israel: The significance of personal/family and professional considerations," Health Policy, Elsevier, vol. 132(C).
    10. Siegel, Martin & Koller, Daniela & Vogt, Verena & Sundmacher, Leonie, 2016. "Developing a composite index of spatial accessibility across different health care sectors: A German example," Health Policy, Elsevier, vol. 120(2), pages 205-212.
    11. Chevillard, Guillaume & Mousquès, Julien, 2021. "Medically underserved areas: are primary care teams efficient at attracting and retaining general practitioners?," Social Science & Medicine, Elsevier, vol. 287(C).
    12. Catherine Cosgrave, 2020. "The Whole-of-Person Retention Improvement Framework: A Guide for Addressing Health Workforce Challenges in the Rural Context," IJERPH, MDPI, vol. 17(8), pages 1-14, April.
    13. Ashkenazi, Yael & Gordon, Michal & Rosen, Bruce, 2019. "Using financial incentives to attract medical residents to the periphery: The Israeli experience," Health Policy, Elsevier, vol. 123(1), pages 80-86.
    14. Anikó Bíró & Blanka Imre, 2022. "Financial subsidies and the shortage of primary care physicians," CERS-IE WORKING PAPERS 2210, Institute of Economics, Centre for Economic and Regional Studies.
    15. Pender, John & Kuhns, Maria & Yu, Cindy & Larson, Janice & Huck, Shirley, 2023. "Linkages Between Rural Community Capitals and Healthcare Provision: A Survey of Small Rural Towns in Three U.S. Regions," USDA Miscellaneous 333533, United States Department of Agriculture.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:comdev:v:48:y:2017:i:2:p:282-298. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RCOD20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.