Guest blogger today for Patch:
Driving home today I was listening to the radio and yet another discussion of the politics of the debt ceiling and financial challenges facing our country. On more than one occasion I heard the comment “wealthy people create jobs” as an argument to against increasing taxes on the wealthiest Americans.
The tax policy debate aside, the statement is just wrong. Entrepreneurs create jobs, not the wealthy.
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As an advocate for entrepreneurship, in late 2005 I was asked by a friend to write an article about my thoughts on entrepreneurship and immigration policy. Researching that article I cam across some very interesting statistics on the productivity of foreign-born entrepreneurs, the United States dependence on foreign minds and the most surprising, that during the dot.com 1990s, more than 50% of start-up companies in silicon valley were started by foreign-born nationals. In a nutshell, America’s competitive advantage is its ability to attract foreign entrepreneurs and innovators.
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I was asked to join a panel on mentoring and entrepreneurship at the local NPR affiliate last week. Click here to listen to a recording (Windows or MP3) of the broadcast and learn about an entrepreneur mentoring program that has received international recognition. Continue reading →
Dr. William Peck, chairman of Innovate St. Louis penned a very nice Op-Ed piece for the Business Journal on the importance of entrepreneurs to our economic recovery. As entrepreneurs create almost 100% of new jobs in the United States, supporting entrepreneurs should be the number one economic development priority for the region and state.
Entrepreneurs are enormous contributors to both regional and national economic success. They create business entities that provide the majority of new jobs and exhibit the potential to rise to national and international significance. They collectively act as a hedge against the inevitable failure, relocation and downsizing of some established enterprises and offer an economic diversity that helps protect against destructive downturns in individual business sectors. Entrepreneurs advance the quality of life, wealth and the economy in the community as they capitalize upon opportunities to advance innovation. Continue reading →
There are many missed opportunities to engage and communicate with your customer regardless if you are a start-up, hospital, retailer, etcc… As noted in the previous blog there can be great upside when engaging in brainstorming and improving your product. But there can be a downside as well in how and what your customers will communicate.
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Listening to NPR the other day there was a passing comment regarding the relationship of the US economy to consumer confidence – about 2/3 of the US economy is directly connected to consumer spending. Not news in itself but with confidence in Bush at an all time low what could be the potential economic impact of Obama just winning the election. Some of the data is pretty surprising. Continue reading →
As a panelist today at an entrepreneurial forum I was asked a very interesting question by a member of the audience, “how do you know when it is the right time to pull the plug?” Not only a timely question given the current market conditions, but a great question that any entrepreneur should consider fairly early on in the development of a new company. Continue reading →