Starting from the dipole representation of small-$x$ evolution we implement the running of the coupling in a self-consistent way. This results in an evolution equation for the dipole density in Borel $(b)$ space. We show that the Borel image of the dipole density is analytic in the neighbourhood of $b=0$ and that it is equal to the BFKL solution at $b=0$. We study the Borel singularity structure of the dipole cascade emanating from a virtual photon at small $x$ and find a branch cut on the positive $b$-semiaxis starting at $b=1/ beta_0$. This indicates the presence of $1/Q^2$ power corrections to the small-$x$ structure functions. Finally we present numerical results in the context of D.I.S.
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