Entrepreneurship rests firmly on opportunity. But in the face of a rapidly changing global economy there is an overwhelming increase in entrepreneurship of necessity. Seniors need to extend their careers. Youth are struggling to launch theirs. Women are looking for flexibility to meet a combination of career and family needs. Individuals around the world are seeking freedom of opportunity. At the same time Big Business is pursuing profits around the world undermining the stability of employment markets. There is widespread decline in loyalty between employers and employees. Structural unemployment is a demoralizing prospect. One need only look to Detroit to see the impact.
The result? The most valued skill in the 21st Century may well be the ability to create your own job. Job creation rests clearly on individuals -first for themselves and then for others. It reflects the difference between Localization versus Globalization – small scale entrepreneurs find their opportunities locally creating jobs in areas that Big Business has abandoned for offshore savings. To compound this the fast paced rate of change driven by technology favours small flexible and adaptable businesses that adjust to changing circumstances. Large companies find their growth through acquisition not startups.
Around the world governments are finally recognizing the importance of entrepreneurs. Fortunately there is a great deal of talent that is suppressed and can be unleashed, whether through culture, education, gender , race, funding or other limitations. It will be up to government to remove the shackles Entrepreneurship has been the driving force behind the economic dominance of the Western world. It is the economic resource that puts other resources to work. Our economic future is moving to the hands of those who are driven to make things happen.
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So then The question is What will give people the impetus to step back long enough from the processes of business to evaluate that process and figure out that they can with conviction and consistent effort improve the process with either a paradigm shift or a better product. And will government ever learn that it cannot do as good of a job as the private sector because the private sector has a stake in the game to do things efficiently and economically because they work with their own money not someone else’s..