— Chuong Ngo, President and Founder
"We love to give other people the oppurtunity to grow"
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With traditional, heavy industry jobs moving to areas with cheaper labor and many industries quickening the adoption of labor substitution technologies, small businesses serving niche markets or brand new markets have increased in importance. Some areas have turned to fostering entrepreneurship by supporting the creation of a skilled workforce, giving ready access to capital to fund new ventures, and to building support networks for new entrepreneurs.
Other places—particularly rural areas—have been left behind. In those seemingly forgotten areas, education opportunities are often more limited, capital is harder access, and there is less support for new businesses. Even if a new business manages to get off the ground, its growth may be constrained by the lack of a skilled worker pool.
These areas have a number of advantages for new entrepreneurs:
• Strong social bonds can help local businesses as they are starting out.
• Lower cost of living makes it cheaper to start and develop businesses.
• The lack of competition from other rivals in the local area can give new businesses room to breathe in their formative years.
If the shortcomings in capital access, skilled workforce, and new business support are addressed, such underdeveloped areas may become vibrant again. This is why the Endless Sky Foundation was created.
The foundation exists to foster and build the foundations of a successful economy in depressed areas in a concerted and sustainable way. Towards this end, the foundation’s efforts will be focused on a few major lines:
• Directly jumpstart the local economy via the creation and support of local businesses, new or existing.
• Development of human capital, through education and training.
• Development of the support networks needed to sustain entrepreneurial activity.