State of Entrepreneurship 2017
As we explore in this report, the state of entrepreneurship is improving, startup activity is up, Main Street entrepreneurship has reached a near two-decade high, and growth entrepreneurship is growing, and while it is still unclear what entrepreneurial activity will look like in the future, the past year showed great improvements.
After a long Great Recession hangover, entrepreneurship is finally rebounding in the United States.
Entrepreneurs are driving a resurgence of business activity in America - in new business creation, local small business activity, and the growth of small firms into larger businesses.
But underneath this reassuring surface, turbulent shifts are shaping the future of entrepreneurship to be dramatically different than what it is today, or was in the past.
We posit that three mega trends will be defining forces shaping the future of entrepreneurship for decades to come.
These three trends reflect the changing demographics, map, and nature of American entrepreneurship.
The State of Entrepreneurship Today
- The state of entrepreneurship is improving, across new firm creation, local small businesses, and growth companies.
- Overall entrepreneurial indicators have gone up, job creation by new establishments is on an uptick, and optimism among small business owners has surged.
- Yet, many entrepreneurial indicators are below the peak that preceded the Great Recession, and certain indicators of entrepreneurial dynamism are still in a long-term decline.
Three Mega Trends Shaping the Future of Entrepreneurship
- New Demographics of Entrepreneurship
- New Map of Entrepreneurship
- New Nature of Entrepreneurship
Zero Barriers to Startup
Despite encouraging data and promising trends, not all Americans are experiencing the benefits of entrepreneurial growth or have the same
access to entrepreneurial opportunities.
The Foundation’s founder, Ewing Marion Kauffman, believed that individuals have a fundamental right to take an idea they have and turn that into a business.
People shouldn’t need a formal degree.
They shouldn’t need consultants to navigate the process.
It shouldn’t matter what your race is, your gender, or where you live.
Anyone should be able to do it fast, without confusion, and for free, without any artificial barriers imposed by others.
Entrepreneurship is something that should be available to all - not just to those with money, connections, or expertise.
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