NOVA SCOTIA continues to reel from loads of bad news.

First, the federal government reneged on its agreement regarding offshore oil revenue.

Then, there was the loss of TrentonWorks, a railcar plant that has been operating for more than 100 years.

And earlier this year there was bad news about the closure of the Maple Leaf Foods processing plant in the Annapolis Valley.

Halifax scrubbed its bid to host the Commonwealth Games over concerns about affordability.

That decision put a damper on the spirits of many who sincerely hoped that such an event would bring new life, and new blood, to Nova Scotia.

News reports continue to bombard Nova Scotians with stories of young people heading West to find better opportunities.

The Chronicle Herald also recently reported that tourism revenue was down in the first quarter of 2007.

All of this bad news is leading some die-hard Nova Scotians to consider moving somewhere else — anywhere else — where there is less doom and gloom and more of a can-do attitude.

In the midst of all of this sit thousands of entrepreneurs, many of who operate homegrown, or home-based businesses.

Nova Scotia has a much higher percentage of rural-based entrepreneurs than the Canadian average.

Maybe it is time for Nova Scotia to start looking at who is already here when making plans for economic development.

The regional development agencies have long known that the secret to economic growth is as much about keeping existing entrepreneurs as it is about gaining new ones.

Yet, much government policy is focused on bringing in those new ones from away.

The primary mandate of Nova Scotia Business Inc. is to attract new employers to the area. In many cases, these employers bring low-wage jobs with few benefits.

Call centres are one such example. While these organizations employ a lot of people, they also have a high turnover, giving testimony to the fact that they are not necessarily great places to work...

See the full story at The ChronicleHerald.ca