U.S. Entrepreneurship Thrives
Another study on entrepreneurship is out. This one, by Florida International University, reports that 18 million people in the United States are actively engaged in startups (versus 31 million engaged in startups and established small businesses.)Yet the report notes a 20% drop in the levels of entrepreneurship in one year, from 2003 to 2004.
Does this mean that America is moving away from its entrepreneurial, self-reliant culture?
Well, not so fast there, bucko.
First of all, even counting the 20% drop, the U.S. still is in the upper third of all countries for overall and opportunity-based entrepreneurship. Among developed or high income countries, the U.S. compares favorably. It has more than twice the levels of entrepreneurship of Western and Central Europe.
Second, as the report notes, the drop in entrepreneurship may be an anomaly. The drop may simply reflect the aftermath of the dotcom bubble.
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