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Why Should We Care About Entrepreneurship in the U.S.?

September 13, 2011

The short answer to this question?  Because entrepreneurs create jobs.

The Economist has a special report on jobs in its latest issue, and this article quotes Carl Schramm, the president of the Kauffman Foundation (described as the largest foundation in the U.S. devoted to entrepreneurship): “Big firms destroy jobs to become more productive. Small firms need people to find opportunities to scale. That is why they create jobs.” In other words, a large corporation can reduce costs and increase the productivity of each worker by reducing its workforce. However, in order for an entrepreneur to execute on her business plan, she will need to hire workers.

The Kauffman Foundation has funded a series of studies on immigrant entrepreneurs, describing high-skilled immigrants as “one of America’s greatest competitive advantages.”

Small businesses in the U.S. generated 65 percent of net new jobs in the last 17 years, according to the Small Business Administration.

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