ABSTRACT. There is a diverse literature on factors relating to successful entrepreneurs but only recently has more attention focused on the importance of diverse institutions and institutional networks in shaping entrepreneurial success. Similarly, there is a gap in the research on rural entrepreneurship and entrepreneurial development. This paper begins with a review of literature regarding the value of institutions and institutional networks in developing and supporting local entrepreneurship. This is followed by an example of a federal policy initiative working to support rural entrepreneurship through state institutions across the Black Belt of the Southeastern United States. Finally, the results of a state level entrepreneurial and economic development survey are discussed, highlighting the institutional and policy barriers that rural communities may face in implementing entrepreneurial development policy. This paper concludes with thoughts for future research and insight on the importance of the wider institutional and policy framework that within which entrepreneurship occurs. pp. 44–57

Keywords: development policy; economic development; rural entrepreneurship; institutions; regional development; rural development; rural economics; South Carolina