Entrepreneurship

Summary:

Entrepreneurship is the process of bringing an idea to life and sharing it in the marketplace. The principal sources of innovation and job creation are new, young, and growing companies, responsible for nearly all of the net new job creation in the U.S. economy. As a result, entrepreneurship cannot be considered an afterthought. Whatever one’s politics, it is a national priority.

Having finally recovered from the Great Recession, the national entrepreneurship rate is at its highest level in two decades. The purpose of this page to gather the best thinking on what can be done to keep it growing. Declines in entrepreneurship reduce productivity and job formation – and with them economic growth, wages, and living standards for all Americans.

Recent research suggests that policymakers seeking to promote entrepreneurship in their city or state achieve the best results when they turn from past strategies and embrace a new economic model that recognizes the changing nature of work and need for an educational system that supports it. Steve Jobs put this concept simply. “Let’s go invent tomorrow,” he said, “rather than worrying about what happened yesterday.”

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Essential Reading

  • Collin West, Gopinath Sundaramurthy, Kauffman Fellows
    Bottom line: While the coasts have the highest number of non-white executives, they still have poor representation of Black and Latinx executives. White and Asian executives are gene...
  • Kauffman Foundation
    Bottom line: The Multi-Dimensional Private Jobs indicators series captures data related to the quantity and quality of new private-sector jobs. The data demonstrates a noticeable dro...
  • Pierre Azoulay, National Bureau of Economic Research
    Bottom line: Immigrants not only expand labor supply as workers but also expand labor demand as founders of firms. Immigrants act more as “job creators” than “job takers” and play ou...
  • David B. Audretsch, Petra Moog, Entrepreneurship Theory and Practice
    Bottom line: Democracy and entrepreneurship are inextricably linked together. It is a truism that decentralized, independent and autonomous decision-making fuels entrepreneurship as ...
  • Conrad Shang, Collin West, Nihar Neelakanti, Kauffman Fellows
    Bottom line: Investors looking to fund entrepreneurs need to change their approach to fit the Covid-19 new normal -- a world that is increasingly remote and increasingly digital. Ven...
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