Once again, entrepreneurial activity showed big in the United States.
Last year was a tough year for entrepreneurs. We have experienced a
deep recession, credit crunch and record unemployment rates. But
although the odds were against them, new-business creation during the
2007-2009 recession years increased steadily year to year (e.g. 60,000
more starts per month in 2009 than in 2007) and 2009
became the year business startups reached their highest level in 14
years. The number of startups even exceeded the count during the
peak of the 1999-2000 technology boom.
I encourage all readers to view the interactive graphics highlighting the Kauffman Index of Entrepreneurial Activity. The Index is an indicator that captures new business owners in their first month of significant business activity through the Current Population Survey (CPS), which is conducted by the U.S. Bureau of the Census and the Bureau of Labor Statistics. The graphics really bring numbers to life and allow one to see key Index findings since 1996.
In addition to the overall rate of entrepreneurial activity, the Index offers insights into the demographic and geographic composition of new entrepreneurs across the country between 1996 and 2009. For example, the latest Index report reveals that although their rate of entrepreneurship remains below other racial groups, African-Americans experienced greatest increases in business-creation rates from 2008 to 2009. In terms of age, entrepreneurship growth was highest among 35- to 44-year-olds. Among states, Oklahoma and Montana had the highest entrepreneurial activity rates, with 470 per 100,000 adults creating businesses each month. In general, business creation is highest in western and southern states, and lowest in the Midwestern and Northeastern states.
To read the full, original article click on this link: Policy Dialogue on Entrepreneurship | Resilient Entrepreneurship
Author: Jonathan Ortmans is president of the Public Forum Institute, a non-partisan organization dedicated to fostering dialogue on important policy issues. In this capacity, he leads the Policy Dialogue on Entrepreneurship, focused on public policies to promote entrepreneurship in the U.S. and around the world. In addition, he serves as a senior fellow at the Kauffman Foundation.
