I think that the predominance of new ventures in the economy is in part a reflection of the mindset of Americans. As a culture Americans are risk takers, opportunity seekers, and like to be in control of their own success. Being an entrepreneur and starting new ventures is linked to all of these traits. New ventures in the economy are important in maintaining and increasing economic stability and growth. As our textbook states, over the past 10 years 600,000 new businesses were started up each year in the United States alone. For ever 300 adults in the U.S., one firm is created. I think this number is important because entrepreneurs are what drive our economy. The more entrepreneurs there are creating and expanding markets, more opportunities will be present to increase economic success. The new ventures also create jobs and opportunities to others, which as we all know is a huge problem in today's economy, and therefore would help sustain our communities.
In regards to new ventures, if I were to create one for the new economy I would create one that focuses on alternative energy sources and the education to the public about these sources. It would provide ways in which to run your home or business using the least amount of energy as possible. Not only is this a growing market, but the demand for these products will more than likely be increasing for many years to come.
~ Adrianne Siler
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I am in complete agreement with the statement about Entrepreneurs reflecting the mindset of Americans. It is in the very nature of American society. We can, in some aspects, consider the United States of America as a whole an Entrepreneurial enterprise if we trace its roots back to its seperation from England and its establishment of a self sufficient enterprise (U.S.A.). One of the top reasons that American's become entrepreneurs is because they desire financial and structural independance from the traditional form of employment.
ReplyDeleteEntrepreneurs are not only the very core of the American economy, but they ARE the American economy. Without them America as we know it would not be possible. Every major enterprise in America started from a new venture. Entrepreneurs have also always been inclined to attempt to predict the "next big thing" and invest in it in one form or another hoping to gain a profit from doing so. An intelligent entrepreneur will not only try to ride the next wave but will realize that every great new service or product has a potential compliment and/or substitute that can also be capitalized on.
Siver you are right. If I were to start another business I would neeed to open up a business that was eco friendly. One reason is for the tax reasons and second b/c when consumers know you are eco frienldy they are more likely to buy from you for that reason.
ReplyDeleteThe world needs help and that is why the world needs Entrepreneurs.