This is just what we need. Entrepreneurs are some of our favorite people. The EDC office is always ready to help entrepreneurs move forward.
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June
11,
2013 Issue
435
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We have always believed that entrepreneurs can play a
vital role in economic development. The following is, in part, the
findings of a recent study on American entrepreneurial rates:
U.S. Entrepreneurship Rates Reach Highest Level In More
Than A Decade
U.S. entrepreneurship rates climbed to the highest level
in more than a decade according to the 2012
Global Entrepreneurship Monitor (GEM) U.S. Report
issued May 2013 by Babson College and Baruch College. In 2012, the
average Total Early-Stage Entrepreneurial Activity rate (TEA)
increased to nearly 13 percent, an all-time high since GEM first began
tracking entrepreneurship rates in 1999.
“Despite a sluggish economy, 2012 was marked by U.S.
entrepreneurs reporting greater optimism and confidence in their
abilities to start new businesses,” commented the GEM Report’s lead
author, Donna
J. Kelley, Associate Professor of
Entrepreneurship at Babson College. “In fact, nearly 13 percent of
the U.S. adult population was engaged in entrepreneurship with the
vast majority starting businesses to pursue an opportunity rather
than out of necessity. On the downside, Americans closing businesses
were twice as likely as those in other innovation-driven economies to
cite difficulties financing their ventures.”
Among the Report’s key findings:
A diverse population –
There are seven women
for every 10 men engaged in entrepreneurship in the U.S.
Entrepreneurship is
not age specific; it attracts everyone from youth to seniors.
Approximately 15-20 percent of adults in the workforce in each
age group are engaged in entrepreneurship.
First-generation
immigrants are highly entrepreneurial: more than 16 percent of
first-generation immigrants were starting and running new
businesses in 2012, compared to 13 percent of nonimmigrants.
A ‘close’ environment –
Majority of
entrepreneurs (41 percent) are operating in the consumer sector.
More than two-thirds
of U.S. entrepreneurs start at home.
U.S. entrepreneurs
are rarely selling outside U.S. borders. Only 12 percent of
entrepreneurs have more than 25 percent international customers.
With only 16 percent
of funding stemming from banks, 82 percent of all funding
received is drawn from personal savings, family and friends.
Highly optimistic –
More than 43 percent
of Americans believe there are good opportunities for
entrepreneurship, a more than 20 percent jump from 2011.
56 percent of
Americans believe they have the capabilities to start a business.
Approximately
three-quarters of entrepreneurs start businesses to pursue an
opportunity rather than out of necessity.
The report concludes by stating that “The U.S. has made
positive progress along a wide range of entrepreneurial indicators.
Much remains to be done…”
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Available Industrial
Space
Featuring
this week...
Kershaw
Co. Spec Bldg
Camden,
SC 75,000 SF
For
more information,
contact Dean Bingham via
email or call
217.342.4443.
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Available Office Space
Featuring...
Oak Ridge
Technology Ctr
Oak Ridge,
TN 58,366 SF
For more
information,
contact Dean Bingham via
email or
call 217.342.4443
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In this new presentation, BoomtownUSA's Millennials -
Supercharged Entrepreneurs, Jack Schultz and Craig Lindvahl will show
you how
communities are connecting with their millennials.
Discover what your
young people can mean to your community's future!
For more
information about bringing Jack and Craig to your community,
contact Lisa
Huston via email or call
217.342.4443.
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Jack Schultz is the CEO of Agracel Inc., an industrial
development firm majoring in rural America, and author of Boomtown USA - The 7 1/2
Keys to Big Success in Small Towns.
The Agurban
is a free newsletter distributed each week to community and
economic development professionals throughout the United States.
Permission is hereby granted to forward, print, circulate, or quote
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please feel free to share it with other economic and community
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To learn more about Agracel visit www.agracel.com.
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Copyright © 2013 Agracel, Inc.
Our address is 2201 North Willenborg St Suite 2, PO Box 1107, Effingham,
IL, 62401, United States
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