Is America Entrepreneurial Enough?

No. We aren’t.

 

There’s my two cents, but for the sake of making this post more interesting, let me elaborate.

 

In BusinessWeek’s Small Biz blog on July 1, John Tozzi explored whether entrepreneurship is on the decline using Scott Shane’s data from the New York Times that it is declining, and Steve King’s data from Small Business Labs that it is not declining.

 

I am sure both men used reliable sources and logic to reach these conclusions, and both could be arguably correct depending on their data. However, what frightened me the most was that even if entrepreneurship is not declining, it sure doesn’t seem to be on the rise. Here is one of the graphs Steve King uses to support his assertion that entrepreneurship is not declining:

 

graph

 

If these measly worms of graph are the best case scenario for the state of entrepreneurship in America, then we have a problem.

 

Everyone is debating the best way to “fix” the economy; what we need is not repair, but renewal. Trying to claw our way back to the way things used to be duirng more prosperous days is not going to help America into the coming years. What we need is innovation, creativity, and above all, entrepreneurship if we are to continue competing on a global stage. It is my sincere hope that over the next decade, graphs like the one above will show not only stability, but a rise in the rate of entrepreneurship.