November is National Entrepreneurship Month. This observance is an effort to recognize, inspire, and cultivate support for our nation’s entrepreneurs in an effort to tap into the undiscovered talent and creative visions that are right here in our own backyard.
Since 2012, President Barack Obama has proclaimed November “National Entrepreneurship Month.” This declaration coincides with National Entrepreneurs’ Day on November 17, 2015 (the 3rd Tuesday in November each year) and Global Entrepreneurship Week (November 16- November 22, 2015), a global event started back in November 2007.
When you think of the impact American entrepreneurs have had on our country (and even the world – Facebook, Uber, and Under Armour, to name a few), it only seems fitting to formally recognize and show appreciation for the creative thinkers behind your favorite businesses.
Here are a few reasons we should all support our favorite “trep” this month and get behind small businesses:
- The 28 million small businesses in America account for 54% of all U.S. sales. (source: SBA)
- Through the first three quarters of 2014, small businesses added 1.4 million new jobs. (source: SBA Office of Advocacy: Small Business Market Update June 2015)
- Q1 2015 had the highest venture capital dollars since Q1 2000, indicating positive growth and investor confidence in our small businesses. Quarter 1 is typically the weakest quarter in venture capital during the year; however, Q1 2015 surpassed $13B in VC investments. (source: SBA Office of Advocacy: Small Business Market Update June 2015)
- For the first time in 35 years, business deaths outnumber business births. (Gallup)
- For the first time, Americans will be able to go online and invest in small businesses and entrepreneurs, which will allow small and young firms to expand and hire more quickly. (source: Whitehouse.gov “The JOBS Act: Encouraging Startups, Supporting Small Businesses”)
- 51% of millennials are planning to start a new business in the next five years, according to a Kauffman Foundation study. (source: CNBC Feb 2014)
- College entrepreneurial education is on the rise: 5,000 entrepreneurship courses were offered last year, up from about 100 in 1975, according to The Ewing Marion Kauffman Foundation. (source: CNBC Feb 2014)
So why should we take time to support or even think about National Entrepreneurship Month?
Let’s put it this way: entrepreneurs have been and are the source of innovation and job creation in our country for decades. Where would we be today without Ford, Carnegie, or Vanderbilt? How about Gates or Jobs?
Entrepreneurs are our greatest visionaries and creative minds. Without them, we risk becoming a stagnant culture, and our economy demands innovation and growth. Entrepreneurs are the “dreamers and doers” of our country, and our support is necessary because we will all be rewarded by the outcomes.
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