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From the Ground Up: Fostering Entrepreneurship

The intrepid entrepreneur striking out on his own has always been an essential part of America’s image of itself. Pulling himself up by his bootstraps–or setting up her e-business on a laptop in a coffee shop–the self-made individual is the engine that drives the American economy.

This is even truer in times of economic crisis. According to one study, more than half of Fortune 500 companies were founded during a recession or bear market. Moreover, new firms tend to be where new jobs come from. On average, one-year-old companies add nearly three million new jobs in their first year, while existing firms lose one million jobs per year.

Full Story: http://www.democracyjournal.org/21/from-the-ground-up.php

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