Business Creation and the Entrepreneurial Process

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business creation

Across the country, small businesses contribute to our economy in many ways. They create nearly two-thirds of all American jobs and generate half of the country’s economic output. Despite this, they rarely make the headlines as much as large firms. But when they do, it is often a story of business creation—and the entrepreneurs who are leading the charge.

A big part of what drove the startup surge during the COVID-19 pandemic was a sense of urgency for Americans to get their goods and services back to normal as quickly as possible. New economic needs and changing consumer preferences also helped fuel this increase in business formation.

As the economy continues to recover from a tough decade, small businesses have played an important role in this growth by helping people find work and providing a platform for innovation. They continue to be the biggest source of net job creation in the U.S. In fact, they’ve created 61% of all new jobs over the past 25 years.

Understanding what drives business creation is important for scholars interested in entrepreneurship and economic development. This book makes an engaging supplementary coursebook for upper division and graduate courses in business plan creation and research methods, as well as a valuable resource for policy analysts emphasizing programs and policies to enhance business creation. It is also a useful read for those who are curious about the entrepreneurial process in general. This includes those who are considering starting their own businesses.