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The economic downturn has placed a new focus on how to generate more “job creators” in our economies and made the idea of a global celebration of entrepreneurship as a path back to positive growth rates especially relevant. This past Saturday marked the 100-day countdown to what is now the largest entrepreneurship event in the world, kicking off November 16th, 2009 - Global Entrepreneurship Week - and I am asking for your help.
As we close out 2011, I did not want to forget to applaud the welcome attention this year brought to maximizing the entrepreneurial potential of women. A recent report, Overcoming the Gender Gap: Women Entrepreneurs as Economic Drivers, showed that despite the fact that about 46 percent of the workforce and more than 50 percent of college students are female, they represent only about 35 percent of startup business owners and tend to experience less growth and prosperity compared to firms started by men.
The Senate Committee on Small Business and Entrepreneurship introduced this week a legislation to reauthorize the Small Business Administration’s (SBA) Small Business Innovation Research (SBIR) program along with the Small Business Technology Transfer program (STTR), which were scheduled to expire at the end of July...
Although the reputation of the U.S. has gone through some bumpy air of late, we have consistently been held in high regard for our entrepreneurial prowess and culture. Even during these times of great economic stress, we are flooded with enthusiastic visitors from overseas (both in person and on-line) searching to understand and replicate the ecosphere that has fostered so much job creation and growth.
The China we knew as the enormous economy largely fueled by cheap labor and inexpensive manufacturing has changed. Though happening slowly compared to its potential, China is becoming one of the most innovative economies on the planet and the birthplace of entrepreneurs like Robin Li, CEO of Baidu, who are entrepreneurial rock stars at home and around the world. Entrepreneurial capitalism seems to be taking hold in China. How is entrepreneurship overcoming the roadblocks of a planned economy?
It is inevitable that a healthy economy will create new job opportunities, while also displacing existing jobs, as successful ventures survive and grow while others fail– even in good times. The process of job creation and economic growth relies on the constant “churning” of firms. Even so, new firms are responsible for the large majority of net new jobs in the U.S. From 1980-2005, firms less than five years old accounted for all net job growth in the country. This is why we need to approach labor rules carefully.
Holding an American and British passport, I enjoy the freedom to move easily among economies which is important given that I am now involved in advancing entrepreneurship in 140 countries. As APEC gets ready to complete the rollout of its APEC travel card and other regions outside the European Community develop single visa plans, I wonder how easy it is for current and aspiring entrepreneurs and investors to get around. Is it indeed getting better?
During this past Week I have been “Globe Blogging” and have reported from the road about various Global Entrepreneurship Week (Nov. 16-22) policy events among others from around the world. Entrepreneurs, development organizations, policy leaders and entrepreneurship researchers lent their voices and experiences to some series policy dialogues. When top-level officials engaged in Global Entrepreneurship Week they sent a message to their constituents about the government’s support for entrepreneurship, making young minds even more comfortable with the idea of doing good through the marketplace. Let’s hope decision makers will be motivated to more urgently enact regulatory reforms and advance other polices to bolster their nation’s entrepreneurial climate.
The recent announcement of Richard Branson, the world-famous entrepreneur best known for his Virgin brand empire and his passion for adventure sports, as the headline speaker at the upcoming Global Entrepreneurship Congress has generated a significant amount of attention and interest.
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