Developing an entrepreneurial culture – Business plan competitions essential

According to Robert Dávila, board member of private equity organization Grupo Guayacán, statistics prove present and future economic growth is without a doubt in the hands of small entrepreneurial companies. Dávila points out that since 1980 there have been 34 million jobs created in the U.S., yet the Fortune 500 companies have lost 5 million jobs in that same period. He adds that in 1960, one out of every four employees, or 25% of the workforce in the U.S., worked for Fortune 500 companies; in 1999, that number had decreased to one in 14 employees, or 7% of the workforce. “From our perspective, it is pretty clear that if we want to have an impact on economic development in Puerto Rico and the rest of the world, we’ve got to focus on where the job creation is, and that is in the small entrepreneurial company,” confirmed Dávila.

With this in mind, the Guayacán Center for Entrepreneurship & Private Equity set out to look for a way in which to promote the creation of a business community that supported entrepreneurial initiatives. After visiting several stateside locations where this kind of community is already strongly developed, Dávila maintained the best way to commence developing that support system and educating people about viable opportunities, was through the creation of Business Plan Competition.

By Georgianne Ocasio Teissonniere of Caribbean Business

Full Story: http://www.puertoricowow.com/html/BusinessNewsDetail.asp?SORT=20

Please consider participating in the the 16th Annual John Ruffatto Business Plan Competition, 5/12, U Of M Missoula http://www.matr.net/article-13730.html