Although starting and growing a new business isn’t the right path for everyone, everyone should care about entrepreneurship. Why?
All you have to do is look at our economy. The last few years have been really tough, and a lot of people were unemployed. Things are looking up, though. We are coming out of the depths of the worst fiscal period since the Great Depression, and who do you think is making that happen? It is the entrepreneurs of the world. In fact, the Kauffman Foundation has a wonderful fact sheet that has evidence to support the impact of entrepreneurship on the economy.
A recent Forbes article by entrepreneur Zach Cutler of the Cutler Group suggests that the U. S. has to do a better job of promoting entrepreneurship to bolster innovation and job creation IF we want to continue to hold our place as the driving economic force in the world (China is catching up very fast).
My favorite quote in the article: “According to the Council on Competitiveness, entrepreneurship is directly responsible for the three key determinants of U.S. competitiveness: job creation, productivity growth and innovation. Young startups not only create nearly two thirds of America’s new jobs, they also boost the economy by forcing out less productive, older companies. Not to mention that such enterprises introduce revolutionary technologies and ideas that advance our nation and the globe.”
And THAT’S why everyone should care.
It’s impressive that a young person like Zach (according to the article, he is only 22) can be so insightful. It’s even more impressive that a magazine like Forbes selected him to write that article. Young people like Zach are why we do what we do here at the Anderson Center for Entrepreneurship and Innovation. We are here to help develop our budding entrepreneurs so that they can continue to keep the U. S. as the number one economy in the world.