The Future of Entrepreneurship

Is there a future for entrepreneurship? Yes…for a number of reasons. First, the economy has changed radically over the last 10 years. Gone are the days when a person would work for a company for 30 years, retire and receive a gold watch with a great pension plan.

Today’s American corporation is learning to drive more profit using fewer people…often leveraging new technologies at the expense of hiring new employees. Second, because large companies will need fewer people, more individuals will create their own incomes by starting their own businesses.

In many cases, these new companies will outsource their skills and knowledge to these larger corporations, which benefit by lowering their fixed operating expenses with reduced payroll, taxes, and benefits. They will do more with less by maximizing the resources of smaller entrepreneurial companies or proven small turnkey businesses.

In a recent study reported by Bloomberg Business Week magazine, small businesses were considered to be the most trusted organizations, ahead of churches, larger corporations, and government. Small business owners earn that element of trust because often they have a very high degree of passion for their business, treat it as a way of life, and generally have a strong sense of appreciation and caring for their customers. They enjoy serving people and have a giving attitude. They are “givers” – not “takers.”