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OK, let me get this straight: The Small Business Administration's Office of Advocacy reports that 27 million small businesses in the U.S. account for 50% of the Gross National Product and employ over 50% of the workforce, and Washington figures $30 billion in loan support and some tax credits will get things done.
What's that, $1,100 per company? Wow, where do we sign up!
Our fearful leaders gave $50 billion to General Motors, and $185 billion to AIG. According to the Congressional Budget Office publication, The Budget &amp; Economic Outlook: An Update August 2009, big business has been showered with more than $10 trillion (that's a "T") in funding and commitments, including: $1.3 trillion disbursed by the Federal Reserve, with another $2.8 trillion committed (including aid to AIG, Citigroup, Bank of America, Bear Stearns; $800 billion from the Treasury, with $3.6 trillion committed (including guarantees for Money Market Funds and TARP); and over $2.1 trillion committed by the FDIC (including increased depositor insurance and more Citigroup guarantees).
Um, does $30 billion to small business make a difference?
Last weekend, hundreds of entrepreneurs, designers, engineers and healthcare professionals came together in Boston to "hack" some of healthcare's biggest pain points.
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Interviewees shouldn't expect traditional questions when they're applying for a position at Limeade, a corporate wellness space focused on building high-performance workforces.
American tech entrepreneurs aren't all 20-somethings from elite universities. A Kauffman Foundation survey of U.S.-born CEOs from 500 engineering and technology companies revealed that today's American tech entrepreneurs are middle aged, well educated in business or technical disciplines, and hold degrees from an assortment of universities.
Intellectual property is one of the toughest subjects for entrepreneurs to understand. From dealing with the tech transfer office to hiring an attorney to filing a provisional patent, IP is a common stumbling block for early-stage entrepreneurs.
Blain Tomlinson, the CEO of Walkjoy, has vowed to largely eschew venture capital funding for his company.
For the third time in three years, the world has a new richest man.
Riding surging prices of his various telecom holdings, including giant mobile outfit America Movil, Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person on earth and nab the top spot on the 2010 Forbes list of the World's Billionaires.
Slim's fortune has swelled to an estimated $53.5 billion, up $18.5 billion in 12 months. Shares of America Movil, of which Slim owns a $23 billion stake, were up 35% in a year.
Are today's newly wealthy entrepreneurs robber barons or 21st-century heroes? Those who profit from the process of wealth creation are under increasing pressure to apply their skills and business experience to philanthropic ventures.
Want to graduate from entreprneur to venture capitalist? Take the VCAT (venture capital aptitude test) to see if you've got the right stuff. Hint: You need more real-world experience than crunching numbers and drawing up business models. A lot more.
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