Google the word "entrepreneur" and the search engine will respond with more than 30 million results to your query. However, Google "reinventing entrepreneurship" and the results will number only in the hundreds.
While superficial, this experiment reveals a worrying condition.
Entrepreneurship has a critical function in the economy. Entrepreneurs are responsible for substantial employment generation and create important spill-over effects that have a significant impact on long-run regional-employment growth rates. Entrepreneurial firms account for substantial increases in productivity and economic growth and they modulate volatility in labour markets.
Perhaps most important, they are crucial to the development and commercialization of innovation.
The need to drive innovation capacity in industry is more urgent than ever. In addition to the staggering challenges of the economic crisis, current industry outlooks increasingly have embedded in them a collective note of warning that deserves our attention. Underlying structural changes, in economic liberalization, capital market developments, technological advances and deep demographic shifts, as well as the changes required to sustain competitiveness, are having a destabilizing effect on many firms.
To read the full, original article click on this link: nbbusinessjournal.com - improving prospects of startups - Breaking News, New Brunswick, Canada
Author: Peter Lindfield
