It doesn’t take a crystal ball to predict that both the opportunities and the pressures created by today’s global economy will continue into the next year and beyond. The economic landscape shifts dramatically nearly every month as a result of changes in workforce, access to capital and availability of new information.

In the midst of this, entrepreneurship has emerged as a powerful engine for economic growth. Entrepreneurship itself is nothing new; the emphasis it is now receiving certainly is. The reason for this intense interest has to do with the growing awareness of the long-term regional employment growth created by entrepreneurship.

Not only do these businesses create new local jobs, they also generate new growth and wealth in their communities. Entrepreneurs use regional assets to build their companies, and they are critical to bringing new ideas and innovation to the marketplace. They are largely responsible for the quality of life we all enjoy.

Entrepreneurs are educated risk takers who reap the rewards for an innovative venture. But unlike corporate CEOs or plant managers, entrepreneurs also bear the consequences of failure if their venture fails. They are managerial decision makers who marshal the resources to create success for their company.

Entrepreneurs enter self-employment for many reasons. They may want to fulfill a dream or create a lifestyle for themselves and their families. They may have a winning idea that will benefit other businesses or society as a whole. These entrepreneurs enhance the mix of businesses in their communities. (more…)